| Yazarlar (2) |
Cem Saatcioğlu
Türkiye |
Doç. Dr. Hüseyin Levent KORAP
Türkiye |
| Özet |
| In this paper, a money demand model upon M2 broad monetary aggregate for the Turkish economy is examined in a portfolio-based approach considering various alternative cost measures to hold money. Employing multivariate co-integration methodology of same order integrated variables, our estimation results indicate that there exists a theoretically plausible co-integrating vector in the long-run money demand variable space. The main alternative costs to demand for money are found as the depreciation rate of domestic currency and the course of equity prices, for which the former brings out the importance of currency substitution phenomenon settled in the economy. Besides, we find that domestic inflation carries a weakly exogenous characteristic and conclude that the main factors leading to the domestic inflation are determined out of the money demand variable space. |
| Anahtar Kelimeler |
| Makale Türü | Özgün Makale |
| Makale Alt Türü | Ulusal alan endekslerinde (TR Dizin, ULAKBİM) yayınlanan tam makale |
| Dergi Adı | Selçuk Üniversitesi İktisadi ve İdari Bilimler Fakültesi Sosyal ve Ekonomik Araştırmalar Dergisi |
| Dergi ISSN | 2148-3043 |
| Dergi Tarandığı Indeksler | TR DİZİN |
| Makale Dili | İngilizce |
| Basım Tarihi | 01-2008 |
| Cilt No | 8 |
| Sayı | 15 |
| Sayfalar | 1 / 13 |
| Makale Linki | https://dergipark.org.tr/tr/pub/susead/issue/28424/302705 |
