| Yazarlar |
Cem Saatcioğlu
Türkiye |
Doç. Dr. Hüseyin Levent KORAP
Türkiye |
| Özet |
| In this paper, we aim to test the empirical validity of the QTM relationship for the Turkish economy. Using some contemporaneous time series estimation techniques, our estimation results reveal that stationarity characteristics of the velocities of currency in circulation and the broad money aggregate in the economy cannot be rejected through a quantity theoretical co-integrating long-term variable space. We find that there exists an about one-to-one proportionality between money and prices and money and real income, and that exogeneity of money cannot be rejected for the currency in circulation in the economy. But, the exception here comes from the broad monetary aggregate used in the QTM equation such that money seems to be endogenous as for the long-term variable space. |
| Anahtar Kelimeler |
| Co-integration | Income | Longspan data | Money | Prices | Quantity theory of money | Turkish economy |
| Makale Türü | Özgün Makale |
| Makale Alt Türü | SSCI, AHCI, SCI, SCI-Exp dergilerinde yayımlanan tam makale |
| Dergi Adı | Panoeconomicus |
| Dergi ISSN | 1452-595X |
| Dergi Tarandığı Indeksler | SSCI |
| Makale Dili | İngilizce |
| Basım Tarihi | 01-2009 |
| Sayı | 1 |
| Sayfalar | 55 / 72 |
| Doi Numarası | 10.2298/PAN0901055S |
| Makale Linki | http://panoeconomicus.org/index.php/jorunal/article/view/207 |
