In this paper, we aim to test the empirical validity of the QTM relationship for the Turkish economy. Using some contemporaneous time series estimation techniques, our estimation results reveal that stationarity characteristics of the velocities of currency in circulation and the broad money...

In this paper, we investigate the determinants of foreign exchange operations of the CBRT for the post-crisis period. Using modern time series econometrics, we try to analyze the different characteristics of FOREX market, and based on the estimation results, indicate the degree of effectiveness...

This paper examines whether the money multiplier processes in the Turkish economy is stable and can be forecasted. Research results using quarterly frequency data for the 1987Q1 – 2009Q4 investigation period show that the processes which convert the base money supply aggregates into the final...

This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach. The Turkish narrow money demand is chosen for investigation purposes and an extensive statistical-based econometric application has been carried out to observe whether the model in question has...

In this paper the convergence hypothesis based on the neo-classical growth theory is tried to be re-examined by using per capita real income data of 26 OECD countries. Considering some contemporaneous panel unit root tests for the 1970 – 2007 sample period, the main findings obtained indicate...

In this paper, the determinants of the portfolio based capital flows are examined for the Turkish economy. Following the structural vector autoregression methodology, the estimation results reveal that the ‘push’ factors based on the external developments for the Turkish economy have a...

In this study, the causal relationships between inflation, output growth and uncertainty have been re-examined for the Turkish economy. Based on the system-GARCH methodology, estimation results reveal that for the 1987M01 2008M09 investigation period with monthly data, the mutual Granger...

In this paper, money demand models using narrowly- and broadly-defined monetary aggregates have been tried to be constructed for the Turkish economy. Using some contemporaneous co-integration estimation techniques for the 1987-2007 period with quarterly data, our findings indicate that for the...

In this paper, the preceding / causal relationships between inflation and inflation uncertainty have been tried to be examined for the Turkish economy. Dealing with the information content of this relationship, we estimate that positive inflationary shocks are associated with statistically...