Long-Run Relations Between Money, Prices and Output: The Case of Turkey

CEM SAATCİOĞLU, (İstanbul Üniversitesi, Ekonomi Fakültesi, Ekonomi Bölümü, İstanbul, Türkiye)
Levent KORAP (Marmara Üniversitesi, Ekonomi Bölümü, İstanbul, Türkiye)
Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi
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Yıl: 2008 Cilt: 4 Sayı: 7 Sayfa Aralığı: 33 - 54 Metin Dili: Türkçe İndeks Tarihi: 29-07-2022

Long-Run Relations Between Money, Prices and Output: The Case of Turkey

Öz:
Bu çalışmada, parasal büyüklükler, fiyatlar ve reel çıktı seviyesi arasındaki uzun dönemli ilişkiler paranın miktar kuramı çerçevesinde Türkiye ekonomisi için incelenmektedir. Çağdaş bazı ekonometrik yöntemler kullanılmak suretiyle elde ettiğimiz bulgular dar ve geniş kapsamlı tanımlanan parasal büyüklüklere ait dolanım hızlarının durağan yapısının reddedilemeyeceğini göstermektedir. Bununla birlikte, parasal büyüklükler fiyatların ve reel gelirin uzun-dönemli gelişimi açısından içsel bir yapıda görülmektedir. Ayrıca, bazı parametre istikrarsızlıkları ve yapısal kırılmalar özellikle Türkiye ekonomisindeki 1994 ve 2001 ekonomik kriz dönemleri için tahmin edilen modelle ilişkilendirilmektedir. Sonuç olarak parasal değişkenlerin içsel yapılarının veri olduğu bir ortamda parasal yetkililerin uyumlaştırıcı bir para politikası izlediği sonucuna ulaşılmaktadır.
Anahtar Kelime:

Para, Fiyatlar ve Çıktı Arasındaki Uzun-Dönemli İlişkiler: Türkiye Örneği

Öz:
In this paper, the long-run relationships between monetary aggregates, prices and real output level have been examined in a quantity theory of money perspective for the Turkish economy. Using some contemporaneous econometric techniques, our findings exhibit that stationary characteristics of the velocities of narrowly and broadly defined monetary aggregates cannot be rejected. However, monetary aggregates seem to have an endogeneity for the long-run evolution of prices and real income. Furthermore, some parameter instabilities and structural breaks have been attributed to the estimated model especially for the 1994 and 2001 economic crisis periods in the Turkish economy. We have concluded that given the endogenous characteristics of the monetary variables, monetary authority follows an accommodative monetary policy inside the period.
Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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APA SAATCİOĞLU C, Korap L (2008). Long-Run Relations Between Money, Prices and Output: The Case of Turkey. , 33 - 54.
Chicago SAATCİOĞLU CEM,Korap Levent Long-Run Relations Between Money, Prices and Output: The Case of Turkey. (2008): 33 - 54.
MLA SAATCİOĞLU CEM,Korap Levent Long-Run Relations Between Money, Prices and Output: The Case of Turkey. , 2008, ss.33 - 54.
AMA SAATCİOĞLU C,Korap L Long-Run Relations Between Money, Prices and Output: The Case of Turkey. . 2008; 33 - 54.
Vancouver SAATCİOĞLU C,Korap L Long-Run Relations Between Money, Prices and Output: The Case of Turkey. . 2008; 33 - 54.
IEEE SAATCİOĞLU C,Korap L "Long-Run Relations Between Money, Prices and Output: The Case of Turkey." , ss.33 - 54, 2008.
ISNAD SAATCİOĞLU, CEM - Korap, Levent. "Long-Run Relations Between Money, Prices and Output: The Case of Turkey". (2008), 33-54.
APA SAATCİOĞLU C, Korap L (2008). Long-Run Relations Between Money, Prices and Output: The Case of Turkey. Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi, 4(7), 33 - 54.
Chicago SAATCİOĞLU CEM,Korap Levent Long-Run Relations Between Money, Prices and Output: The Case of Turkey. Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi 4, no.7 (2008): 33 - 54.
MLA SAATCİOĞLU CEM,Korap Levent Long-Run Relations Between Money, Prices and Output: The Case of Turkey. Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi, vol.4, no.7, 2008, ss.33 - 54.
AMA SAATCİOĞLU C,Korap L Long-Run Relations Between Money, Prices and Output: The Case of Turkey. Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi. 2008; 4(7): 33 - 54.
Vancouver SAATCİOĞLU C,Korap L Long-Run Relations Between Money, Prices and Output: The Case of Turkey. Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi. 2008; 4(7): 33 - 54.
IEEE SAATCİOĞLU C,Korap L "Long-Run Relations Between Money, Prices and Output: The Case of Turkey." Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi, 4, ss.33 - 54, 2008.
ISNAD SAATCİOĞLU, CEM - Korap, Levent. "Long-Run Relations Between Money, Prices and Output: The Case of Turkey". Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi 4/7 (2008), 33-54.
Sayfa Oluşturulma Tarihi
22-04-2024 13:37

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