Yıldırım, Metin and Korap, Levent (2012): Testing the Lucas critique for the Turkish money demand function. Published in: İktisat, İşletme ve Finans , Vol. 318, No. 27 (2012): pp. 5782.

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Abstract
This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach. The Turkish narrow money demand is chosen for investigation purposes and an extensive statisticalbased econometric application has been carried out to observe whether the model in question has been exposed to the content of such a critique. The results confirm the theory to explain the behavioral foundations of aggregate monetary economics approaches and reveal that no evidence can be found in favor of the nonrejection of the Lucas critique that leads us to infer that the modelling attempt can be considered by the researcher a feedback model which is able to encompass a whole class of expectation models.
Item Type:  MPRA Paper 

Original Title:  Testing the Lucas critique for the Turkish money demand function 
English Title:  Testing the Lucas critique for the Turkish money demand function 
Language:  English 
Keywords:  Money Demand; Lucas Critique; 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 > 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:  41156 
Depositing User:  Levent Korap 
Date Deposited:  11 Sep 2012 11:17 
Last Modified:  28 Sep 2019 04:34 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/41156 