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- Title
OPTIMAL PARA POLITIKASI ÇERÇEVESINDE TAYLOR TIPI FAIZ ORANI REAKSIYON FONKSIYONUN TAHMINI: TÜRKIYE ÖRNEĞI.
- Authors
PEHLİVANOĞLU, Ferhat
- Abstract
In this study, by being used period of 1987:1-2013:3 quarterly frequency data sets, it is aimed to determine whether short-term nominal interest rates act as rule-based and whether monetary authority follows a rule-based monetary policy strategy or not. Taylor-type interest rate reaction function has been estimated under forwardlooking expectations by considering technique GMM and findings have reached Taylor Rule is valid in Turkey in the relevant period of analysis. Additionally; flattening parameter, considering the size and significance of the other coefficients, another finding obtained in the study is the monetary authority with independence purpose does not fulfill applications for price stability as its primary task, instead it is in an effort to straighten fluctuations observed in growth as its primary objective .
- Publication
Journal of Knowledge Economy & Knowledge Management, 2014, Vol 9, Issue 1, p115
- ISSN
1308-3937
- Publication type
Article