Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/121294
Autoren: 
Gürkaynak, Refet S.
Kantur, Zeynep
Tas, M. Anil
Yildirim, Secil
Datum: 
2015
Schriftenreihe/Nr.: 
CFS Working Paper Series No. 520
Zusammenfassung: 
We present an accessible narrative of the Turkish economy since its great 2001 crisis. We broadly survey economic developments and pay particular attention to monetary policy. The data suggests that the Central Bank of Turkey was a strong inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal anchor is visible in the break we estimate in Taylor-type rules as well as in asset prices. We also argue that recent discrete jumps in Turkish asset prices, especially the exchange value of the lira, are due more to domestic factors. In the post-2009 period the Central Bank was able to stabilize expectations and asset prices when it chose to do so, but this was the exception rather than the rule.
Schlagwörter: 
Turkey
CBRT
monetary policy
fiscal policy
JEL: 
E52
E62
E31
E32
E02
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
680.23 kB





Publikationen in EconStor sind urheberrechtlich geschützt.