Testing Exchange Rate Determination Model for YTL/US$$: Evidence from High Frequency Data
Yazarlar (2)
Prof. Dr. Cem Saatcioğlu Türkiye
Doç. Dr. Hüseyin Levent KORAP Türkiye
| Makale Türü |
Özgün Makale
(Diğer hakemli ulusal dergilerde yayınlanan tam makale)
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| Dergi Adı | Uşak Üniversitesi Sosyal Bilimler Dergisi | ||
| Dergi ISSN | 1308-738X | ||
| Dergi Tarandığı Indeksler | Eğitim Bilimleri İndeksi, Araştırmax, ASOS İndeks, Türk Eğitim İndeksi, İSAM, EBSCO HOST, SOBİAD | ||
| Makale Dili | İngilizce | Basım Tarihi | 01-2008 |
| Cilt / Sayı / Sayfa | 1 / 2 / 87–101 | DOI | – |
| Makale Linki | https://dergipark.org.tr/tr/pub/usaksosbil/issue/21654/232808 | ||
| UAK Araştırma Alanları |
Enflasyon
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| Özet |
| In this paper, exchange rate determination mechanism of YTL/US$ is examined for the 1986M01-2007M08 period of monthly frequency data. Using a theoretical approach based on the monetary model exchange rate determination mechanism, estimation results obtained from contemporaneous multivariate co-integration methodology indicate that YTL/US$ nominal exchange rate is co-integrated with the fundamentals suggested by economics theory. Estimation results reveal that there exists a positive relationship between nominal exchange rate and relative money supply differential and that an increase in the relative income differential would lead to an appreciation of the domestic currency against the US$. Besides, relative interest differential variable has a positive relationship with the nominal exchange rate as a priori hypothesized. However, no significant effect of relative inflation differentials on the nominal exchange rate has been found. |
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