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Monetary policy rules in practice: Re-examining the case of Turkey

dc.contributor.authorHasanov, Mübariz
dc.contributor.authorOmay, Tolga
dc.date.accessioned2016-04-27T07:07:40Z
dc.date.available2016-04-27T07:07:40Z
dc.date.issued2008
dc.departmentÇankaya Üniversitesi, İktisadi İdari Bilimler Fakültesi, Uluslararası Ticareten_US
dc.description.abstractThis paper investigates possible asymmetries in the monetary policy reaction function of the Central Bank of Republic of Turkey over the business cycles. It is found that the bank reacted more aggressively towards output stabilisation during recessions than expansions. The empirical evidence suggests that the inflation targeting policy of the Turkish Central Bank was accommodative rather than stabilising. Furthermore, it is found that although the Central Bank of Republic of Turkey responded to foreign reserves, real exchange rates and short-term capital inflows both in expansion and recession periods, the bank targeted money growth, budget deficits, and net foreign assets only in expansion periodsen_US
dc.description.publishedMonth7
dc.identifier.citationHasanov, M., Omay, T. (2008). Monetary policy rules in practice: Re-examining the case of Turkey. Physica A-Statistical Mechanics And Its Applications, 387(16-17), 4309-4318. http://dx.doi.org/10.1016/j.physa.2008.02.075en_US
dc.identifier.doi10.1016/j.physa.2008.02.075
dc.identifier.endpage4318en_US
dc.identifier.issn0378-4371
dc.identifier.issue16-17en_US
dc.identifier.startpage4309en_US
dc.identifier.urihttp://hdl.handle.net/20.500.12416/906
dc.identifier.volume387en_US
dc.language.isoenen_US
dc.publisherElsevier Scienceen_US
dc.relation.ispartofPhysica A-Statistical Mechanics And Its Applicationsen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectMonetary Policyen_US
dc.subjectSpreaden_US
dc.subjectReaction Functionen_US
dc.subjectNonlinearityen_US
dc.subjectAsymmetryen_US
dc.titleMonetary policy rules in practice: Re-examining the case of Turkeytr_TR
dc.titleMonetary Policy Rules in Practice: Re-Examining the Case of Turkeyen_US
dc.typeArticleen_US
dspace.entity.typePublication

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