IS-LM modeline alternatif olarak BMW modeli: Enflasyon hedeflemesi altında şoklara yönelik politika tepkilerinin analizi
IS-LM modeli, makro iktisat öğretiminde ve ders kitaplarında kullanılan temel araç olarak varlığını sürdürmektedir. Buna rağmen modelin ciddi bir biçimde eleştirildiği ve enflasyon hedeflemesi uygulayan merkez bankalarının politika uygulamalarında kullanılmadığı gözlenmektedir. Zira günümüz iktisat politikaları, kendisini makroiktisadın mevcut çekirdek modeli olarak gören Yeni Neo-klasik Sentez-DSGE (Dinamik Stokastik Genel Denge) modelleri üzerine inşa edilmiştir. Bu sebeple, geçmiş yirmi yılda, makroiktisat araştırmaları ile makro iktisat öğretimi ve ders kitapları arasındaki uçurum giderek artmıştır. Mevcut uçurumu azaltmaya yönelik çabalardan biri, Yeni Neo-Klasik Sentezin çıkarımları ile açık bir biçimde uyumlu ve grafiksel analize imkan veren bir alet çantasıyla standart IS-LM modeline önemli bir üstünlük sağlayan BMW modelidir. Bu çalışmanın amacı, makroiktisat öğretimi için IS-LM modeline bir alternatif olarak sunulan BMW modelini ele alarak, model aracılığıyla enflasyon hedeflemesi uygulayan merkez bankalarının şoklara verdiği politika tepkilerinin nasıl farklılaştığını incelemektir.
The IS-LM model remains the workhorse model of teaching in most macroeconomics textbooks. Despite its pervasive use, the IS-LM model has been seriously criticized and is far removed from the practice of inflation-targeting central banks. However, modern macroeconomics is based on the New Neoclassical Synthesis-DSGE (Dynamic Stochastic General Equilibrium) models which are considered itself as a core model in macroeconomics. For that reason, in the past twenty years, the gap between macroeconomics research and textbooks has grown wider. One of the attempts to bridge this gap is the BMW model which deals explicitly with the implications of the New Neoclassical-DSGE models and offers important advantages with a graphical analysis toolkit over the well known IS-LM model. The aim of this paper is to analyze the policy reactions of inflation targeting central banks to the shocks by presenting the BMW model which is treated as an alternative to the IS-LM model.
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- ISSN: 1301-3386
- Yayın Aralığı: Yılda 2 Sayı
- Başlangıç: 2018
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