Currency substitution, policy rule and pass-through: evidence from Turkey

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dc.authoridYazgan, M. Ege/0000-0003-1412-4488
dc.authorwosidYazgan, Ege/GPG-1135-2022
dc.contributor.authorYazgan, M. Ege
dc.contributor.authorZer-Toker, Ilknur
dc.date.accessioned2024-07-18T20:55:08Z
dc.date.available2024-07-18T20:55:08Z
dc.date.issued2010
dc.departmentİstanbul Bilgi Üniversitesien_US
dc.description.abstractIn this article we analyse empirically currency substitution and exchange rate pass-through in the Turkish Economy, where their ongoing presence could undermine the implementation of a successful monetary policy, especially in a flexible exchange rate regime. Even though a considerable time has passed after the implementation of a flexible exchange rate regime in Turkey, by using Vector Error Correction model for the period from 1987 to 2004, we find that the currency substitution and exchange rate pass-through still have importance in the Turkish Economy and the monetary policy stance has been considerably strong, possibly, as a response of ongoing presence of them. If this is the case, to avoid the undesired consequences of this strong monetary policy, Turkey should consider some policy measures to reduce the degree of pass-through and currency substitution.en_US
dc.identifier.doi10.1080/00036840701858018
dc.identifier.endpage2378en_US
dc.identifier.issn0003-6846
dc.identifier.issn1466-4283
dc.identifier.issue18en_US
dc.identifier.scopus2-s2.0-77954428292en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.startpage2365en_US
dc.identifier.urihttps://doi.org/10.1080/00036840701858018
dc.identifier.urihttps://hdl.handle.net/11411/8726
dc.identifier.volume42en_US
dc.identifier.wosWOS:000280145300008en_US
dc.identifier.wosqualityQ3en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherRoutledge Journals, Taylor & Francis Ltden_US
dc.relation.ispartofApplied Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectMonetary-Policyen_US
dc.subjectCointegrationen_US
dc.subjectDemanden_US
dc.titleCurrency substitution, policy rule and pass-through: evidence from Turkeyen_US
dc.typeArticleen_US

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