Quality Growth versus Inflation in Turkey
AbstractWe estimate average quality growth and upward inflation bias for a set of 51 goods in Turkey by using 7 waves of Household Budget Survey from 2003 to 2009 and TURKSTAT prices. We employ instrumental variables approach introduced by Bils and Klenow (2001). We find that average quality growth in Turkey is 3.93 percent. Of this 3.93 percent, 2.28 percent is not netted out by TURKSTAT. Consequently, for the set of goods that we study, the estimated inflation bias is 2.28 percentage points.
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Bibliographic InfoPaper provided by Research and Monetary Policy Department, Central Bank of the Republic of Turkey in its series Working Papers with number 1121.
Date of creation: 2011
Date of revision:
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Quality bias; Inflation rates;
Other versions of this item:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-11-21 (All new papers)
- NEP-ARA-2011-11-21 (MENA - Middle East & North Africa)
- NEP-CBA-2011-11-21 (Central Banking)
- NEP-CWA-2011-11-21 (Central & Western Asia)
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- Mustafa Kilinc & Cengiz Tunc, 2013. "Turkiye’de Goreli Konut Deflatoru," CBT Research Notes in Economics 1314, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- Yavuz Arslan & Evren Ceritoglu, 2011.
"Kalite Artislari ve Enflasyon : Turkiye Ornegi,"
Central Bank Review,
Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 11(1), pages 1-9.
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