Munich Personal RePEc Archive

Structural VAR identification of the Turkish business cycles

Levent, Korap (2007): Structural VAR identification of the Turkish business cycles. Published in: International Research Journal of Finance and Economics , Vol. 9, (2007): pp. 72-86.

[img]
Preview
PDF
MPRA_paper_21971.pdf

Download (221kB) | Preview

Abstract

In this paper, we investigate some of the main properties of the Turkish business cycles. Our empirical findings indicate that domestic inflation is countercyclical with real output and lags the GDP cycle by one quarter. We then construct a structural VAR model upon the Turkish economy, and estimate that the courses of real variables are mainly determined by the supply shocks, while both real and nominal shocks affect significantly the dynamics of the nominal variables.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.