Does Central Bank Of Republic Of TURKEY React To Asset Prices?

Ertuğrul Üstün GEYİK

Makale detayları

Does Central Bank Of Republic Of TURKEY React To Asset Prices?

Yazarlar:

Ertuğrul Üstün GEYİK

Yayıncı:

Tekirdag Namik Kemal University

Dergi:

Papers on Social Science 2012 Vol.2012 Issue 1, pp.1-17

Belge Tipi:

Makale

Yayın Tarihi:

5/2012

Belge Dili:

İngilizce

Document ID (Org No.):

2000609045

Sıklık:

İki Yıllık

eISSN:

1308-4895

pISSN:

1308-4453

Özet:

 


The last decade made many Central Bankers dry and single minded inflation targeting bodies or at least they acted as if they were just targeting inflation. However, some speeches of the Central Bankers or some econometric analyses about Central Bank behaviors show different intentions. This paper analyses last ten years or the inflation targeting years of CBRT and tries two answer two critical questions: Does CBRT react to asset prices and if it does, is this reaction asymmetrically biased? A Taylor Rule like inflation targeting rule is used to regress Central Bank’s policy tool interest rate with inflation deviation, output gap and a self created Asset Price Index. The econometric analysis below shows that the answer to both of the questions above is positive in this context.

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Makale detayları

Does Central Bank Of Republic Of TURKEY React To Asset Prices?

Yazarlar: Ertuğrul Üstün GEYİK

Yayıncı: Tekirdag Namik Kemal University

Dergi: Papers on Social Science 2012 Vol.2012 Issue 1, pp.1-17

Belge Tipi: Makale

Yayın Tarihi: 5/2012

Belge Dili: İngilizce

Document ID (Org No.): 2000609045

Sıklık: İki Yıllık

eISSN: 1308-4895

pISSN: 1308-4453

Sayı

Yazarlar:

Ertuğrul Üstün GEYİK

Yayıncı:

Tekirdag Namik Kemal University

Dergi:

Papers on Social Science 2012 Vol.2012 Issue 1, pp.1-17

Belge Tipi:

Makale

Yayın Tarihi:

5/2012

Belge Dili:

İngilizce

Document ID (Org No.):

2000609045

Sıklık:

İki Yıllık

eISSN:

1308-4895

pISSN:

1308-4453