Taylor rule for Turkey under multiple structural breaks: Estimating the forward-looking taylor rule for Turkey under multiple structural breaks

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dc.authorscopusid57190881040
dc.authorscopusid57103418500
dc.authorscopusid55746024100
dc.contributor.authorSoybilgen, B.
dc.contributor.authorEroğlu, B.A.
dc.contributor.authorYener, H.
dc.date.accessioned2024-07-18T20:18:00Z
dc.date.available2024-07-18T20:18:00Z
dc.date.issued2019
dc.description.abstractWe estimate a forward-looking Taylor rule for Turkey covering both implicit and explicit inflation-targeting periods. In this analysis, we also consider the presence of structural breaks in the policy coefficients. Even though the Turkish economy has been undergoing several structural changes since 2002, the previous studies that estimate the monetary policy rule for Turkey disregard structural breaks, while fitting a policy reaction function. In this study, we examine a Taylor rule for Turkey using a two-stage least square regression that is coupled with the analysis of multiple structural breaks with unknown dates. By using this methodology, we show that the monetary policy function of the Central Bank of the Republic of Turkey exhibits four different periods. This result demonstrates that it is crucial to take account of structural breaks, while estimating monetary policy rules. © Peter Lang AG 2019.en_US
dc.identifier.endpage23en_US
dc.identifier.isbn9783631784389
dc.identifier.isbn9783631784396
dc.identifier.scopus2-s2.0-85090361388en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage11en_US
dc.identifier.urihttps://hdl.handle.net/11411/6845
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherPeter Lang AGen_US
dc.relation.ispartofCurrent Issues in Turkish Economics: Problems and Policy Suggestionsen_US
dc.relation.publicationcategoryKitap Bölümü - Uluslararasıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectMonetary Policyen_US
dc.subjectStructural Breaksen_US
dc.subjectTaylor Ruleen_US
dc.titleTaylor rule for Turkey under multiple structural breaks: Estimating the forward-looking taylor rule for Turkey under multiple structural breaksen_US
dc.typeBook Chapteren_US

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