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The Effects Of Aggregate Demand And Supply Shocks On Output And Inflation In Turkey, 1987-2009


  • Zekeriya Yildirim

    () (Anadolu University)


In this study the effects of aggregate demand and supply shocks on output and inflation in Turkey is investigated by structural VAR (SVAR) technique for 1987:1-2009:3 period. The results show that aggregate demand shocks have a considerable effect on output in Turkey although aggregate supply shocks have a relatively dominant effect on output. Furthermore one of the most important findings of this study is that aggregate demand and supply shocks are highly correlated in Turkey. These findings have important policy implications for Turkey.

Suggested Citation

  • Zekeriya Yildirim, 2011. "The Effects Of Aggregate Demand And Supply Shocks On Output And Inflation In Turkey, 1987-2009," Anadolu University Journal of Social Sciences, Anadolu University, vol. 11(2), pages 81-96, May.
  • Handle: RePEc:and:journl:v:11:y:2011:i:2:p:81-96

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    SVAR; Demand and Supply Shocks;

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models


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