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Transmission Mechanism Of Monetary Policy: The Case Of Turkey

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  • Gülçin Tap??n

    (?stanbul Ticaret Üniversitesi)

Abstract

Central Banks use monetary policy tools in order to reach such ultimate aims as enabling price stability, stabilizing output gap and increasing employment. The effects of monetary policies applied in accordance with the business cycles on the mentioned macroeconomic variables are realized by means of monetary transmission channels. The analysis of monetary transmission mechanisms indicating the macroeconomic outcomes of the change in the monetary policy tools is of high importance in terms of these policies? efficiency. This study examines the efficiency of monetary transmission mechanism in Turkey for the years between 1995:01-2018:11 by using the Toda-Yamamoto causality test.

Suggested Citation

  • Gülçin Tap??n, 2019. "Transmission Mechanism Of Monetary Policy: The Case Of Turkey," Proceedings of International Academic Conferences 9111508, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iacpro:9111508
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    References listed on IDEAS

    as
    1. Frederic S. Mishkin, 1996. "The Channels of Monetary Transmission: Lessons for Monetary Policy," NBER Working Papers 5464, National Bureau of Economic Research, Inc.
    2. John B. Taylor, 1995. "The Monetary Transmission Mechanism: An Empirical Framework," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 11-26, Fall.
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    More about this item

    Keywords

    Monetary Policy; Monetary Transmission Mechanism; Toda-Yamamoto causality test;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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