TÜRKİYE EKONOMİSİ FİYAT KATILIKLARININ FAVAR MODELİ İLE ANALİZİ

Fiyatların ve ücretlerin katı olduğu varsayımı üzerine inşa edilmiş Yeni Keynesyen iktisat teorisine göre para nötr değildir ve parasal genişleme ekonomide reel sonuçlar üretir. Her ne kadar toplulaştırılmış veriler fiyat katılığı varsayımını desteklese de, mikro veriler incelendiğinde toplulaştırılmamış fiyatların geleneksel olarak varsayılandan çok daha değişken olduğu görülmüştür. Makro ve mikro veriler arasındaki bu uyumsuzluğu açıklamak için, bir FAVAR modeli (Bernanke, Boivin ve Eliasz, 2005) geliştirilmiş ve fiyat değişimlerinde sektöre özgü ve ortak bileşenlerin payı 2005:01-2014:12 ekonomik verileri kullanılarak hesaplanmıştır. Yaptığımız bu analize göre, Türkiye’de fiyatların belirlenmesinde ortak bileşenlerin payı, yüksek bir fiyat katılık derecesine imkan vermeyecek kadar büyüktür.

Anahtar Kelimeler:

Fiyat Katılıkları, FAVAR, Yeni Keynesyen Ekonomi

ANALYSIS OF PRICE RIGITIY IN TURKEY BY FAVAR

New Keynesian economic theory is built on the assumption that prices and wages are sticky. Despite the aggregate data supporting the sticky prices assumption, micro data indicate that disagregated prices change much faster than conventionally assumed. In order to explain the disgreement between macro and micro data, we developed a FAVAR model (Bernanke, Boivin ve Eliasz, 2005) and computed the common and sector specific components for Turkish economy from 2005:01 to 2014:12. Our analysis revealed that share of common components in price setting process in Turkey is inconsistent with high degree of price rigidity.

Keywords:

Price Rigidity; Sticky Prices; FAVAR,

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