ADAPTABILITY OF THE INTEREST RATE TO THE INCOME AND INFLATION LEVEL OF THE ECONOMY: AN ALAYSIS OF THE TAYLOR RULE FOR TURKISH ECONOMY

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dc.authoridaltunoz, utku/0000-0002-0232-3108
dc.contributor.authorAltunoz, Utku
dc.date.accessioned2025-03-23T19:26:43Z
dc.date.available2025-03-23T19:26:43Z
dc.date.issued2019
dc.departmentSinop Üniversitesi
dc.description.abstractOne of the main target of central banks is to ensure price stability. The fight against inflation has an important place in reaching this aim. Especially central banks targeting inflation target use interest rates as the main tool. In this way, they decide how to change the interest rates in line with the targets they specify. Taylor Rule is a reduced version of the nominal interest rate determined by the central bank to respond to changes in inflation, output or other economic conditions. In this paper, it has been tried to determine whether the optimal monetary policy is determined based on the rules of production, inflation and exchange rate variables for the period of 2004: 01-2016: 10 in the light of Taylor Rule. Taylor Rule is analyzed in two model frameworks that the model in which the interest rates are determined according to the production deficit and the deviation of inflation from target and the model in which the interest rate of the central bank, which is a kind of open economy version of this model, is determined according to the production deficit, deviation of inflation from target and exchange rate deficit. As a result of study, it has been applied that Central Bank implicitly rule-based monetary policy regime within the framework of the Taylor rule with the switch of inflation targeting regime.
dc.identifier.doi10.30798/makuiibf.425866
dc.identifier.endpage63
dc.identifier.issn2149-1658
dc.identifier.issue1
dc.identifier.scopusqualityN/A
dc.identifier.startpage49
dc.identifier.urihttps://doi.org/10.30798/makuiibf.425866
dc.identifier.urihttps://hdl.handle.net/11486/4766
dc.identifier.volume6
dc.identifier.wosWOS:000466181500003
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.institutionauthorAltunoz, Utku
dc.language.isotr
dc.publisherMehmet Akif Ersoy Univ
dc.relation.ispartofJournal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20250323
dc.subjectInflation Targeting
dc.subjectTaylor Rule
dc.subjectARDL Bounding Test
dc.titleADAPTABILITY OF THE INTEREST RATE TO THE INCOME AND INFLATION LEVEL OF THE ECONOMY: AN ALAYSIS OF THE TAYLOR RULE FOR TURKISH ECONOMY
dc.typeArticle

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