Record Details

Searching for the credibility of monetary policy in Turkey: Evidence from structural VAR analysis

Journal of Economics and Political Economy

View Archive Info
 
 
Field Value
 
Title Searching for the credibility of monetary policy in Turkey: Evidence from structural VAR analysis
 
Creator ALKAN, Buket
 
Subject Inflation expectations; Structural VAR; Credibility; Anchoring; The Turkish economy; Uncertainty.
E52; E58.
 
Description Abstract. A relationship between the macro shocks and the long-term inflation expectations leads to questioning the credibility of a central bank. This paper investigates the credibility of the Central Bank of Turkey by analyzing the anchoring effect of the long-term inflation expectations by using the uncertainty indicator. We conduct the analysis with the structural VAR method using survey-based inflation expectations data as well as economic uncertainty index data developed for the Turkish economy. Our results provided evidence in favor of the existing de-anchoring process and imply that the monetary policy is not fully credible in Turkey during the period under investigation.Keywords. Inflation expectations, Structural VAR, Credibility, Anchoring, The Turkish economy, Uncertainty.JEL. E52, E58.
 
Publisher Journal of Economics and Political Economy
Journal of Economics and Political Economy
 
Contributor —
 
Date 2019-03-11
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
—
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEPE/article/view/1851
10.1453/jepe.v6i1.1851
 
Source Journal of Economics and Political Economy; Vol 6, No 1 (2019): March; 78-93
Journal of Economics and Political Economy; Vol 6, No 1 (2019): March; 78-93
2148-8347
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEPE/article/view/1851/1856
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1851/941
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1851/942
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1851/943
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1851/944
http://www.kspjournals.org/index.php/JEPE/article/downloadSuppFile/1851/945
 
Rights Copyright (c) 2019 Journal of Economics and Political Economy
http://creativecommons.org/licenses/by-nc/4.0