Testing Quantity Theory of Money for the Turkish Economy
Yazarlar (1)
Doç. Dr. Hüseyin Levent KORAP Kastamonu Üniversitesi, Türkiye
| Makale Türü |
Özgün Makale
(Ulusal alan endekslerinde (TR Dizin, ULAKBİM) yayınlanan tam makale)
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| Dergi Adı | BDDK Bankacılık ve Finansal Piyasalar Dergisi | ||
| Dergi ISSN | 1307-5705 | ||
| Dergi Tarandığı Indeksler | TR DİZİN | ||
| Makale Dili | İngilizce | Basım Tarihi | 01-2007 |
| Cilt / Sayı / Sayfa | 1 / 2 / 93–109 | DOI | – |
| Makale Linki | https://dergipark.org.tr/tr/pub/bddkdergisi/issue/57366/812755 | ||
| UAK Araştırma Alanları |
Enflasyon
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| Özet |
| In this paper, it is tried to test the main assumptions of the Quantity Theory of Money for the Turkish economy. Using some contemporaneous estimation techniques to examine the long-run stationary economic relationships on which the quantity theory is constructed, it is found that stationary characteristics of the velocitities of narrowly and broadly defined monetary aggregates cannot be rejected. However, monetary aggregates seem to be endogenous for the long-run evoluation of prices and real income. It is concluded that monetary authorities follow an accommodative monetary policy inside the period given the endogeneity of the monetary variables. |
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