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Possible effects of domestic and foreign factors on monetary policy implementation in Turkey: a DSGE-VAR approach
| Content Provider | Scilit |
|---|---|
| Author | Ozcelebi, Oguzhan Yildirim, Nurtac Kansu, Aydan |
| Copyright Year | 2014 |
| Description | Journal: Economic Research-Ekonomska Istraživanja In this paper, we attempt to explore the possible effects of technology, foreign output, price and terms of trade shocks on short-term interest rates in Turkey within a dynamic stochastic general equilibrium-vector autoregressive (DSGE-VAR) framework. In a sense, the primary aim of our paper is to analyse whether the Central Bank of the Republic of Turkey (CBRT) should consider the role of technology, foreign output, price and terms of trade shocks in its monetary policy implementation. Empirical results reveal that the above-mentioned factors have importance for the CBRT, which intends to control economy-wide interest rates in order to maintain price stability. |
| Related Links | http://www.tandfonline.com/doi/pdf/10.1080/1331677X.2014.974339?needAccess=true |
| Ending Page | 606 |
| Page Count | 17 |
| Starting Page | 590 |
| ISSN | 1331677X |
| e-ISSN | 18489664 |
| DOI | 10.1080/1331677x.2014.974339 |
| Journal | Economic Research-Ekonomska Istraživanja |
| Issue Number | 1 |
| Volume Number | 27 |
| Language | English |
| Publisher | Informa UK Limited |
| Publisher Date | 2014-01-01 |
| Access Restriction | Open |
| Subject Keyword | Journal: Economic Research-Ekonomska Istraživanja Operations Research and Management Science Foreign Shocks Domestic Shocks Short-term Interest Rates Monetary Policy Dsge-var Model |
| Content Type | Text |
| Subject | Economics and Econometrics |
