Current Issues in Turkish Economics
Problems and Policy Suggestions
Summary
Excerpt
Table Of Contents
- Cover
- Title Page
- Copyright Page
- Foreword
- About the editors
- About the book
- Citability of the eBook
- Contents
- List of Contributors
- Taylor Rule for Turkey under Multiple Structural Breaks
- Returns to Overeducation
- Adult Obesity: Decomposition Analysis
- Monetary Policy in Turkey
- Internal Migration and Wages
- Anchoring of Inflation Expectations
- Flat-Plate Solar Collectors
- Determinants of Interest Rates
- Tourism Response to Domestic Disruptive Events
- List of Figures
- List of Tables
Barış Soybilgen
Istanbul Bilgi University, Department of Economics,
Adress: Eski Silahtarağa Elektrik Santralı Kazım Karabekir Cad. No: 2/13 34060 Eyüpsultan / Istanbul / Turkey
email: baris.soybilgen@bilgi.edu.tr
Bilge Eriş Dereli
Marmara University, Department of Economics
e-mail: bilge.eris@marmara.edu.tr
Burak Alparslan Eroğlu
Istanbul Bilgi University, Department of Economics,
Adress: Eski Silahtarağa Elektrik Santralı Kazım Karabekir Cad. No: 2/13 34060 Eyüpsultan / Istanbul / Turkey
email: burak.eroglu@bilgi.edu.tr
Burcu Düzgün Öncel
Marmara University, Department of Economics
e-mail: burcu.duzgun@marmara.edu.tr
Çağlar Yurtseven
Bahcesehir University, Department of Economics
Adress: Çırağan Caddesi, Osmanpaşa Mektebi Sokak, No: 4 - 6
34353 Beşiktaş, Istanbul / Turkey
e-mail: caglar.yurtseven@eas.bau.edu.tr
Dinçer Dedeoğlu
Bahcesehir University, Department of Economics
Adress: Çırağan Caddesi, Osmanpaşa Mektebi Sokak, No: 4 - 6
34353 Beşiktaş, Istanbul / Turkey,
e-mail: dincer.dedeoglu@eas.bahcesehir.edu.tr
Deniz Karaoğlan
Bahcesehir University, Department of Economics
Adress: Çırağan Caddesi, Osmanpaşa Mektebi Sokak, No: 4 - 6
34353 Beşiktaş, Istanbul / Turkey
e-mail: hanifedeniz.karaoglan@eas.bau.edu.tr
Erhan Aslanoğlu
Piri Reis University, Department of Economics and Finance,
e-mail: easlanoglu@pirireis.edu.tr
Hakan Acaroğlu
Department of Economics, Eskisehir Osmangazi University
Adress: 26480 Eskisehir / Turkey
e-mail address: hacaroglu@ogu.edu.tr
←9 | 10→Haluk Yener
Istanbul Bilgi University, Department of Economics
Adress: Eski Silahtarağa Elektrik Santralı Kazım Karabekir Cad. No: 2/13 34060 Eyüpsultan / Istanbul / Turkey
email: haluk.yener@bilgi.edu.tr
Hüseyin Kaya
Istanbul Medeniyet University, Department of Economics
Adress: 34000 Kadikoy / Istanbul /Turkey
e-mail: huseyin.kaya@medeniyet.edu.tr
Kaan Öğüt
Bahcesehir University, Department of Economics
Adress: Çırağan Caddesi, Osmanpaşa Mektebi Sokak, No: 4 - 6
34353 Beşiktaş, Istanbul / Turkey
e-mail: kaan.ogut@eas.bahcesehir.edu.tr
Kıvanç Karaman
Bogazici University, Department of Economics.
e-mail: kivanc.karaman@boun.edu.tr
Mahmut Tekçe
Department of Economics, Marmara University
e-mail: mtekce@marmara.edu.tr
M. Celalettin Baykul
Department of Metallurgical and Materials Engineering, Faculty of Engineering and Architecture, Eskisehir Osmangazi University
Adress: 26480 Eskisehir / Turkey.
e-mail address: cbaykul@ogu.edu.tr
Özer Selçuk
Department of Economics, Istanbul Medeniyet University
Adress: 34000 Kadikoy, Istanbul / Turkey,
e-mail: ozer.selcuk@medeniyet.edu.tr
Pınar Deniz
Marmara University, Department of Economics
e-mail: pinar.deniz@marmara.edu.tr
Seçil Yıldırım-Karaman
Altınbaş University, Department of Economics.
Serkan Yeşilyurt
Bahcesehir University, Department of Economics and Finance
Adress: Çırağan Caddesi, Osmanpaşa Mektebi Sokak, No: 4 - 6
34353 Beşiktaş / Istanbul / Turkey
e-mail: serkan.yesilyurt@eas.bau.edu.tr
Barış Soybilgen, Burak Alparslan Eroğlu and Haluk Yener
Taylor Rule for Turkey under Multiple Structural Breaks
Estimating the Forward-Looking Taylor Rule for Turkey under Multiple Structural Breaks
Abstract: We estimate a forward-looking Taylor rule for Turkey covering both implicit and explicit inflation-targeting periods. In this analysis, we also consider the presence of structural breaks in the policy coefficients. Even though the Turkish economy has been undergoing several structural changes since 2002, the previous studies that estimate the monetary policy rule for Turkey disregard structural breaks, while fitting a policy reaction function. In this study, we examine a Taylor rule for Turkey using a two-stage least square regression that is coupled with the analysis of multiple structural breaks with unknown dates. By using this methodology, we show that the monetary policy function of the Central Bank of the Republic of Turkey exhibits four different periods. This result demonstrates that it is crucial to take account of structural breaks, while estimating monetary policy rules.
Keywords: Taylor rule, monetary policy, structural breaks
Details
- Pages
- 204
- Publication Year
- 2019
- ISBN (PDF)
- 9783631784389
- ISBN (ePUB)
- 9783631784396
- ISBN (MOBI)
- 9783631784402
- ISBN (Softcover)
- 9783631782798
- DOI
- 10.3726/b15390
- Language
- English
- Publication date
- 2019 (April)
- Keywords
- Taylor rule overeducation obesity monetary policy internal migrant solar energy inflation targeting human development index
- Published
- Berlin, Bern, Bruxelles, New York, Oxford, Warszawa, Wien, 2019. 203 pp., 60 fig. b/w, 59 tables
- Product Safety
- Peter Lang Group AG
