Anchoring of inflation expectations and credibility in Turkey
Küçük Resim Yok
Tarih
2011
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
BILGESEL YAYINCILIK SAN & TIC LTD
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Anchoring of inflation expectations and credibility in Turkey This paper investigates the inflation targeting experience of Turkey in terms of the degree of anchoring of expectations to official targets. The estimated time-varying vector auto-regression model suggests a high path for the anchoring parameter until May 2006 and a relatively lower path until November 2008 following the financial turbulence of May 2006. The anchoring behaviour strengthens after November 2008. The congruence between model estimates and the anecdotal milestones of the Turkish economy can be interpreted as a sign of decision makers' manifestation of confidence in the Central Bank.
Açıklama
Anahtar Kelimeler
Monetary policy, Inflation targeting, Central Bank, Expectations, Anchoring, Credibility
Kaynak
IKTISAT ISLETME VE FINANS
WoS Q Değeri
Q4
Scopus Q Değeri
Cilt
26
Sayı
304
