endogeneity of money. Implicitly, the money supply process with regard to Turkish inflation is unpredictable with respect to the … past history of prices, i.e. either inflation or currency depreciation. Therefore, the Turkish monetary regime may be … persistently high inflationary process in Turkey. -- Demand for Money ; High Inflation ; Granger Causality ; Exogeneity of Money …

inflation volatility.Also, causality tests results indicate that changes in the exchangerate, output gap volatility, and output … gap will have permanent andtemporary causal effects on inflation volatility. The policymakersshould carefully consider … these results to implement appropriatepolicies to reduce inflation volatility. The finding that the shocks areof temporary …

inflation tax revenue. Finally, the Cagan model is estimated with the additional assumption of rational expectations for Turkey …

related with money policy of Turkey were realised, and 1999(IV) when drastic measures were taken to cope with inflation … treasury bond interest return and inflation were analysed. We applied cointegration test for cointegration analysis and a …

reducing the average inflation rate while there was a strong recovery of the output. However, there are accumulated risks in …

inflation targeting. To ascertain whether this policy framework satisfies the necessary condition for effectiveness, we estimate …