Friedman (1984), parasal büyümedeki değişkenliklerin paranın gelir dolanım hızında düşüşe yol açabileceğini ileri sürmüştür. Para otoritesi, para arzını kısa süre içerisinde arttırdığında para arzının oynaklığını arttırmakta ve buda belirsizliğe neden olarak...

This study investigates the dynamics of inflation for Turkish economy from 1990 to until 2013 under the New Keynesian Philips Curve framework by using the non-causal time series methodology developed by Lanne and Saikkonen (2011) and Lanne and Luoto (2013). There is a vigorous ongoing debate on...

In this paper, we investigate the asymmetric effect of exchange rate movements on prices in both expansion and recession cycles for the inflation targeting (IT) period in Turkey, from 2002:M1 to 2012:M10, by using a co-integrating non-linear auto regression distributed lag (NARDL) model. This...

Fiyat istikrarının yanı sıra finansal istikrarı da gözeten bir para politikası çerçevesi çizmek mümkün. Bu makalede, önce, küresel krizden önce uygulanan (klasik) enflasyon hedeflemesi rejiminin finansal istikrarı da gözetecek biçimde nasıl yeniden tasarlanabileceği...

The purpose of this paper is to empirically analyze the role of the banking sector in monetary policy transmission in Turkey covering the period 1988-2009. By exploiting dynamic panel data modeling approaches, the heterogeneity in banks’ lending response to changes in policy interest rates is...

In this paper we empirically investigate the causal link between money and economic growth employing a Markov switching Granger causality analysis. We carry out our investigation using quarterly Turkey real Gross Domestic Product, real M2 and interbank money market rate data which cover the...

The paper reviews recent episodes of quantitative easing in the United States and associated internal and external transmission mechanisms. On the basis of the Vector Error Correction Model (VECM) specific features of transmission for the Russian economy are revealed. The U.S. active balance...

Although the effects of economic news announcements on asset prices are well established, these relationships are unlikely to be stable. This paper documents the time variation in the responses of yield curves and exchange rates using high frequency data from January 2000 through August 2011....

This article describes experimental economics, in general, and new developments in experimental macroeconomics, in particular. The approach has a clear niche in providing evidence on economic phenomena that cannot be observed directly or that are difficult to measure. Experimental work conducted...

A szerző összehasonlító jelleggel vizsgálja azt a kérdést, hogy mennyire volt releváns a Nemzetközi Valutaalap (IMF) gazdaságfelfogása a kelet és a középeurópai rendszerátalakító országok gazdaságpolitikája számra. Bemutatja e felfogás jelentős önfejlődését....