Türkiye'de parasal aktarım mekanizması kanallarının işleyişi
Bu çalışma kapsamında para politikası şoklarının reel ekonomi ve fiyatlar üzerindeki etkileri araştırılmıştır. Bu nedenle çalışmada parasal aktarım kanalları incelenerek, Türkiye’de bu kanallardan hangilerinin etkin olarak çalıştığı analiz edilmiştir. Parasal aktarım mekanizmalarının çalışmalarını test etmek amacıyla da VAR modeli kapsamında etki tepki fonksiyonları ve varyans ayrıştırma yöntemi kullanılarak Türkiye’nin 1990-2006 yılları arası üçer aylık verileri test edilmiştir. Bulunan ampirik bulgulara göre, Türkiye’de geleneksel faiz oranı ve döviz kuru kanallarının çalıştığı, hisse senedi fiyatı ve banka kredi kanallarının istatistiksel olarak anlamlı çıkmadığı sonuçlarına ulaşılmıştır.
Processing of monetary transmission mechanism channelsin Turkey
This paper examines the impact of a monetary policy shock on output and prices for Turkey. Therefore, this paper is to explain the channel of monetary transmission mechanisms and to determine which monetary transmission channels work effectively in Turkey. In order to test the working of monetary transmission channels VAR model is constructed and the results, which are based on impulse response functions and variance decomposition with quarterly aggregate data covering the period 1990-2006 , are reported. According to empirical results, the traditional interest rate and exchange rate channels seems to be working in Turkey. There are no statistically significant results about the existence of equity price and bank credit channels in Turkey.
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- ISSN: 1300-3623
- Yayın Aralığı: Yılda 2 Sayı
- Başlangıç: 1973
- Yayıncı: Hazine ve Maliye Bakanlığı