Price-Money Relationship After Inflation Targeting: Cointegration Test With Structural Breaks For Turkey and Brazil

Cuneyt DUMRUL; Yasemin DUMRUL

Makale detayları

Price-Money Relationship After Inflation Targeting: Cointegration Test With Structural Breaks For Turkey and Brazil

Yazarlar:

Cuneyt DUMRUL | Yasemin DUMRUL

Yayıncı:

İlhan ÖZTÜRK

Dergi:

International Journal of Economics and Financial Issues 2015 Vol.5 Issue 3, pp.701-708

Belge Tipi:

Makale

Yayın Tarihi:

8/2015

Belge Dili:

Türkçe

Document ID (Org No.):

2000813685

Sıklık:

İki Aylık

eISSN:

2146-4138

Özet:

 

The inflation targeting (IT) strategy may create structural changes in macroeconomic variables. This study analyzes the effect of the IT strategy on the price-money supply relationship in Turkey and Brazil by Kejriwal-Perron cointegration analysis with structural breaks. The analysis aims to determine whether the IT strategy leads to regime shifts in the price index-money supply relationship in Turkey and Brazil. The Kejriwal-Perron tests reveal a structural break in the price-money supply relationship as a result of the IT strategy. In both countries, the implementation of this strategy leads to a decrease in the regime coefficients for Turkey while it creates an increase for Brazil. When Turkey and Brazil are compared in terms of money-price relationship after the IT strategy, the study reveals that it has weakened more in Brazil.

Makale detayları

Price-Money Relationship After Inflation Targeting: Cointegration Test With Structural Breaks For Turkey and Brazil

Yazarlar: Cuneyt DUMRUL | Yasemin DUMRUL

Yayıncı: İlhan ÖZTÜRK

Dergi: International Journal of Economics and Financial Issues 2015 Vol.5 Issue 3, pp.701-708

Belge Tipi: Makale

Yayın Tarihi: 8/2015

Belge Dili: Türkçe

Document ID (Org No.): 2000813685

Sıklık: İki Aylık

eISSN: 2146-4138

Sayı

Yazarlar:

Cuneyt DUMRUL | Yasemin DUMRUL

Yayıncı:

İlhan ÖZTÜRK

Dergi:

International Journal of Economics and Financial Issues 2015 Vol.5 Issue 3, pp.701-708

Belge Tipi:

Makale

Yayın Tarihi:

8/2015

Belge Dili:

Türkçe

Document ID (Org No.):

2000813685

Sıklık:

İki Aylık

eISSN:

2146-4138