Time-varying taylor rule estimation for Turkey with flexible least square method [Esnek en küçük kareler metodu ile Türkiye için zaman içinde de?işen taylor kurali kestirimi]

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dc.authorid0000-0001-6814-747Xen_US
dc.contributor.authorSoybilgen, Barış
dc.contributor.authorEroğlu, Burak Alparslan
dc.date.accessioned2021-06-28T09:58:42Z
dc.date.available2021-06-28T09:58:42Z
dc.date.issued2019
dc.description.abstractIn this study, we estimate a time-varying Taylor rule for evaluating the policy reaction function of the Central Bank of the Republic of Turkey (CBRT). Even though the Turkish economy has been continuously evolving in the last 15 years, previous studies that analyze the monetary policy rule of the CBRT mainly use time-invariant monetary policy functions. We propose a flexible two-stage least square regression to deal with both instability and endogeneity problems in the monetary policy functions. By analyzing the period between 2006 and 2019, we clearly show that the monetary policy function of the CBRT changes over time, and using a time-invariant monetary policy rule model would yield misleading results.en_US
dc.fullTextLevelFull Texten_US
dc.identifier.doi10.21773/boun.33.2.3
dc.identifier.issn1300-9583
dc.identifier.scopus2-s2.0-85090367268en_US
dc.identifier.trdizinid458499en_US
dc.identifier.urihttps://hdl.handle.net/11411/3900
dc.identifier.urihttps://doi.org/10.21773/boun.33.2.3
dc.identifier.urihttps://search.trdizin.gov.tr/yayin/detay/458499en_US
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakTR-Dizinen_US
dc.issue2en_US
dc.language.isoenen_US
dc.nationalInternationalen_US
dc.numberofauthors2en_US
dc.publisherBogazici Universitesien_US
dc.relation.ispartofBogazici Journalen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectMonetary policyen_US
dc.subjectTaylor ruleen_US
dc.subjectTime-varying parameteren_US
dc.subjectTurkeyen_US
dc.titleTime-varying taylor rule estimation for Turkey with flexible least square method [Esnek en küçük kareler metodu ile Türkiye için zaman içinde de?işen taylor kurali kestirimi]
dc.typeArticle
dc.volume33en_US

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