Arin, Kerim Peren; Gur, Timur Han - In: Applied Economics 41 (2009) 16, pp. 2085-2092
This article compares and contrasts the macroeconomic effects of exchange rate targeting and money supply targeting by using quarterly data from Turkey for the period February 1986-March 2000. The results of the VAR analysis show that the exchange rate does not have the traditional 'hump-shaped...