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policy targets. The current study examines the stability of money demand function in Turkey from January 1989 to May 2010 …. More specifically, it estimates the demand for narrow money in Turkey and evaluates its robustness and stability …. Considering the economic reforms and financial crises in Turkey, it is found that there exists a well determined instability for …
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The stable money demand function is a crucial policy tool of the monetary policy of any central bank, which links the monetary sector of an economy to its real sector. Notably, after the global financial crisis of 2007-08, the role of money has come to be envisaged as an essential issue while...
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