Arşiv ve Dokümantasyon Merkezi
Dijital Arşivi

Unorthodox monetary policy with real-time measurements

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dc.contributor Graduate Program in Economics.
dc.contributor.advisor Hatipoğlu, Ozan.
dc.contributor.author Akgün, Ahmet.
dc.date.accessioned 2023-03-16T12:00:09Z
dc.date.available 2023-03-16T12:00:09Z
dc.date.issued 2018.
dc.identifier.other EC 2018 A54
dc.identifier.uri http://digitalarchive.boun.edu.tr/handle/123456789/16306
dc.description.abstract In this study, asymmetric interest rate corridor which is a part of Central Bank of Republic of Turkey’s unorthodox monetary policy is analyzed between the period 2011 and 2017. Using Bayesian filtering methods, output and inflation gaps are determined with the real-time measurements. In light of these gaps, an augmented Taylor rule is implemented to analyze the behavior of the instruments in response to these gaps. Our results indicate that policy rate, upper gap and upper bound do not react to these gaps, yet lower bound answers to control these gaps. Upper and Lower gap reacts only to output gap, whereas gap only responds to inflation gap in our analysis. Moreover, VAR analysis has been conducted on the gap. The gap responds to exchange rate, output gap and inflation gap shocks.
dc.format.extent 30 cm.
dc.publisher Thesis (M.A.) - Bogazici University. Institute for Graduate Studies in the Social Sciences, 2018.
dc.subject.lcsh Monetary policy -- Turkey.
dc.title Unorthodox monetary policy with real-time measurements
dc.format.pages vii, 41 leaves ;


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