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Impact of Easing Restrictions on Restaurant Inflation: Normalization Processes in Türkiye during COVID-19

Author

Listed:
  • Ceren Eldemir
  • Serdar Yurek

Abstract

Among the measures implemented in Türkiye during the COVID-19 pandemic, extensive restrictions were applied for restaurants, such as prohibitions regarding dine-in services. As the pandemic was brought under control to a certain degree, restrictions were loosened and normalization processes were begun. In this study, we estimate the causal impact of those normalization processes on restaurant pricing via regression discontinuity design. During the normalization processes that have begun following three main periods of restrictions, an increase of approximately 1.11% and 1.37% in the prices of food services occurred for the first and third normalization periods, respectively, whereas no significant impact is found for the second period.

Suggested Citation

  • Ceren Eldemir & Serdar Yurek, 2023. "Impact of Easing Restrictions on Restaurant Inflation: Normalization Processes in Türkiye during COVID-19," Working Papers 2303, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:wpaper:2303
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    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/en/tcmb+en/main+menu/publications/research/working+paperss/2023/23-03
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    More about this item

    Keywords

    Firm behaviour; Inflation; Microeconometrics;
    All these keywords.

    JEL classification:

    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General

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