In this study, we examine the money supply endogeneity in Turkish economy for the post crises period, between 2009.10 and 2016.12 by employing asymmetric causality test. Our results reveal that a positive credit shock will cause a positive shock in the money supply. That is, an increase in...

This paper examines the validity of the endogenous money supply hypothesis in Türkiye from 2008 to 2020. The endogenous money hypothesis underlines the fact that a demand for bank credit leads to the creation of credit and deposit. Deposits are created once credit application is approved by...