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Kosulluluk Araci Olma Baglaminda Kisa Vadeli Faiz Oranlarinin Hedeflenen Enflasyondan Sapmada Kullanimi: Bounds Test Yaklasimi (Türkiye Örnegi)

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  • Res. Ass. Dr. Mahmut ZORTUK

    (Istanbul Üniversitesi Iktisat Fakültesi Ekonometri Bölümü Ekonometri A.B.D.)

Abstract

In that study discussed to apply the processing of over-cover and uncover inflation targeting strategy between the year intervals 2001-2006 in Turkey and targeting simultaneously; in the situation of inflation rates, potential production level and exchange rate occur a deviation, how the short run interest rates follow a way that is tried to determine. For determining of inflation rates, also one of the most known ways is Taylor Rule. The processing of Taylor Rule analyzed by helping of Bounds Test, which is a new method comparatively, includes Turkey and understood the result that the mentioning variations, which forms Taylor Rule, effect on the short run interest clearly.

Suggested Citation

  • Res. Ass. Dr. Mahmut ZORTUK, 2007. "Kosulluluk Araci Olma Baglaminda Kisa Vadeli Faiz Oranlarinin Hedeflenen Enflasyondan Sapmada Kullanimi: Bounds Test Yaklasimi (Türkiye Örnegi)," Istanbul University Econometrics and Statistics e-Journal, Department of Econometrics, Faculty of Economics, Istanbul University, vol. 6(1), pages 41-68, December.
    • Handle: RePEc:ist:ancoec:v:6:y:2007:i:1:p:41-68
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    References listed on IDEAS

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    1. Mario Blejer & Alfredo Leone & Pau Rabanal & Gerd Schwartz, 2002. "Inflation Targeting in the Context of IMF-Supported Adjustment Programs," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.),Inflation Targeting: Desing, Performance, Challenges, edition 1, volume 5, chapter 10, pages 439-464, Central Bank of Chile.
    2. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    3. Karagol, Erdal & Erbaykal, Erman & Ertugrul, Hasan Murat, 2007. "Türki̇ye’De Ekonomi̇k Büyüme İle Elektri̇k Tüketi̇mi̇ İli̇şki̇si̇: Sinir Testi̇ Yaklaşimi [Economic Growth And Electricity Consumption In Turkey: A Bound Test Approach]," MPRA Paper 100150, University Library of Munich, Germany.
    4. Kremers, Jeroen J M & Ericsson, Neil R & Dolado, Juan J, 1992. "The Power of Cointegration Tests," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 325-348, August.
    5. Taylor, John B., 1993. "Discretion versus policy rules in practice," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 195-214, December.
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    Keywords

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    JEL classification:

    • 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
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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