Threshold regression model for Taylor rule: The case of Turkey [2-s2.0-85086479254]

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dc.authorscopusid36616226300
dc.authorscopusid6701354830
dc.authorscopusid15125307700
dc.contributor.authorDeniz, P.
dc.contributor.authorStengos, T.
dc.contributor.authorYazgan, E.
dc.date.accessioned2024-07-18T20:17:42Z
dc.date.available2024-07-18T20:17:42Z
dc.date.issued2020
dc.description.abstractThis paper employs the structural threshold approach of Kourtel-los et al. (2016) to examine various specifications of the Taylor rule model. Contrary to the previous work on the Taylor rule, this methodology allows for endogeneity of the threshold variable in addition to the right-hand-side variables suggesting a fully comprehensive flexible framework that does not rely on restrictive linearity and/or exogeneity assumptions. In order to examine the model, Turkey is selected as an inflation targeting developing economy, since its central bank (the Central Bank of Turkey) as argued by Dincer and Eichen-green (2014) has been one of the fastest improving central banks in terms of its transparency score. We will use monthly data for the period of 2004-2018 that includes a number of historical episodes such as the global financial crisis as well as various internal political developments that may have had an impact on the fluctuations of the relevant macroeconomic variables as well as on the functional form of the inflation targeting Taylor rule specification. Empirical findings high-light the different reactions of the central bank in determining policy rate under different regimes. © 2020, Rimini Centre for Economic Analysis. All rights reserved.en_US
dc.identifier.endpage41en_US
dc.identifier.issn1973-3909
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-85086479254en_US
dc.identifier.scopusqualityQ4en_US
dc.identifier.startpage1en_US
dc.identifier.urihttps://hdl.handle.net/11411/6704
dc.identifier.volume12en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherRimini Centre for Economic Analysisen_US
dc.relation.ispartofReview of Economic Analysisen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectNonlinearitiesen_US
dc.subjectTaylor Ruleen_US
dc.subjectThreshold Regression Modelsen_US
dc.titleThreshold regression model for Taylor rule: The case of Turkey [2-s2.0-85086479254]en_US
dc.typeArticleen_US

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