Levent, Korap (2007): Testing quantity theory of money for the Turkish economy. Published in: Journal of BRSA Banking and Financial Markets , Vol. 1, No. 2 (2007): pp. 93109.

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Abstract
In this paper, it is tried to test the main assumptions of the Quantity Theory of Money for the Turkish economy. Using some contemporaneous estimation techniques to examine the longrun stationary economic relationships on which the quantity theory is constructed, it is found that stationary characteristics of the velocitities of narrowly and broadly defined monetary aggregates cannot be rejected. However, monetary aggregates seem to be endogenous for the longrun evoluation of prices and real income. It is concluded that monetary authorities follow an accommodative monetary policy inside the period given the endogeneity of the monetary variables.
Item Type:  MPRA Paper 

Original Title:  Testing quantity theory of money for the Turkish economy 
English Title:  Testing quantity theory of money for the Turkish economy 
Language:  English 
Keywords:  Theory of Money ; Neutrality ; Cointegration ; Turkish Economy ; 
Subjects:  C  Mathematical and Quantitative Methods > C3  Multiple or Simultaneous Equation Models ; Multiple Variables > C32  TimeSeries Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models E  Macroeconomics and Monetary Economics > E3  Prices, Business Fluctuations, and Cycles > E31  Price Level ; Inflation ; Deflation E  Macroeconomics and Monetary Economics > E6  Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E61  Policy Objectives ; Policy Designs and Consistency ; Policy Coordination E  Macroeconomics and Monetary Economics > E4  Money and Interest Rates > E41  Demand for Money 
Item ID:  21704 
Depositing User:  Levent Korap 
Date Deposited:  29 Mar 2010 07:29 
Last Modified:  27 Sep 2019 05:25 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/21704 