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AN ANALYSIS ON MONETARY CONDITION INDEX IN TURKEY BY USING STRUCTURAL VAR ANALYSIS

AÇCI, Yunus; TASAR, Izzet - 2016

The Central Bank of Turkey (TCMB) has a significant power on aggregate demand and inflation expectation via monetary … possible effects of MCI on the aggregate demand in Turkey. Structural VAR analysis will be used for the analysis. The period …

Persistent link: https://www.econbiz.de/10011529234

The difficulty of discerning what's too tight: Taylor rules and Japanese monetary policy

Posen, Adam; Kuttner, Kenneth - 2003

Observers have relied increasingly on simple reaction functions, such as the Taylor rule, to assess the conduct of monetary policy. Applying this approach to deflationary or near-zero inflation environments is problematic, however, and this paper examines two shortcomings of particular relevance...

Persistent link: https://www.econbiz.de/10009472315

How European is the European Central Bank's Monetary Policy?

Petrova, Teodora D. - 2010

Ever since its establishment in 1999, the European Central Bank worked on maintaining relative price stability mainly through inflation targeting. The ECB aims at a target inflation rate below but close to 2%. However, the diversity among the member states in the European Union and the Eurozone...

Persistent link: https://www.econbiz.de/10009449317

The Taylor rule and dynamic stability in a small macroeconomic model

Chappell, David; Turner, Paul - 2003

In this paper we embed the Taylor interest rate rule in a simple macroeconomic model with Calvo contracts. We contrast this with the case in which the interest rate is determined by the conventional LM curve along with a fixed value for the monetary aggregate. We derive conditions under which...

Persistent link: https://www.econbiz.de/10009461225

Two essays on monetary policy under the Taylor rule

Goldberg, Dror (contributor); Li, Qi (contributor) - 2004

In this dissertation, two questions concerning monetary policy under the Taylor rule have been addressed. The ﬁrst question is on, under the Taylor rule, whether a central bank should be responsible for both bank supervision and monetary policy or whether the two tasks should be exercised by...

Persistent link: https://www.econbiz.de/10009464972

EU ENLARGEMENT TO TURKEY: POTENTIAL IMPACTS ON AGRICULTURAL MARKETS AND HOW THEY ARE SHAPED BY CHANGES IN MACROECONOMIC CONDITIONS

Fellmann, Thomas; van Leeuwen, Myrna; Salamon, Petra - 2011

The potential accession of Turkey to the EU, and the related adoption of the CAP by Turkey,is expected to influence … agricultural markets in both the EU and Turkey. The extent of theaccession impacts depends on the one hand on the way the CAP will …-membership simulation show that the impacts on agriculturalmarkets in Turkey are significant, while effects on EU markets are rather limited …

Persistent link: https://www.econbiz.de/10009446181

Lietuvos pinigų politika

Baranovaitė, Marina - 2005

The object of the study – Lithuanian monetary policy. The purpose of the work – to estimate the level of achieved objectives of Lithuanian monetary policy and to forecast perspectives after joining to European Union. The main tasks: 1. to investigate the objectives, means and results of...

Persistent link: https://www.econbiz.de/10009478782

Loud and clear? Can we hear when the SARB speaks?

Reid M.; Du Plessis S. - 2010

Inflation targeting is a forward-looking framework for monetary policy that has brought unprecedented transparency to the process of monetary policy. This paper aims to assess the degree to which the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC) has, since the introduction...

Persistent link: https://www.econbiz.de/10009480479

The sensitivity of south African inflation expectations to surprises

Reid M. - 2009

Price stability is widely recognised as the primary goal of modern monetary policy, and the management of private sector inflation expectations has become an essential channel through which this goal is achieved. This evaluation aims to improve the understanding of how the sensitivity of private...

Persistent link: https://www.econbiz.de/10009480481

Optimal Central Bank Conservatism and Monopoly Trade Unions

Berger, Helge; Hefeker, Carsten; Schoeb, Ronnie - 2000

The “conservative central banker” has come under attack recently. Explicitly modeling the interaction of a trade union with monetary policy, it has been argued that the standard solution to the inflationary bias in monetary policy might actually be welfare reducing if the trade union has an...

Persistent link: https://www.econbiz.de/10009447268

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