Para politikası etkinliği ve enflasyon hedeflemesi
The purpose of this thesis is to check the effectiveness of monetary policy on macroeconomic indicators after the adoption of inflation targeting for randomly chosen 10 economies to fill the gap in the literature. For this purpose, the effectiveness of interest rates on output gap and inflation rate...
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TOBB ETÜ Sosyal Bilimler Enstitüsü
2015
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fttobbunietcris:oai:gcris.etu.edu.tr:20.500.11851/2404 2024-09-15T18:13:28+00:00 Para politikası etkinliği ve enflasyon hedeflemesi Huyugüzel, Nurbanu Taş, Bedri Kamil Onur 2015 https://hdl.handle.net/20.500.11851/2404 https://tez.yok.gov.tr/UlusalTezMerkezi/tezSorguSonucYeni.jsp en eng TOBB ETÜ Sosyal Bilimler Enstitüsü TOBB University of Economics and Technology, Graduate School of Economics and Social Sciences Tez https://tez.yok.gov.tr/UlusalTezMerkezi/tezSorguSonucYeni.jsp https://hdl.handle.net/20.500.11851/2404 open Impulse Response Function Output Gap Effectiveness of Monetary Policy VAR Model Inflation Targeting Regime Ekonomik Çıktı Açığı Para Politikası Etkinliği Etki Tepki Fonksiyonu VAR Model Analizi Enflasyon Hedefleme Rejimi Master Thesis 2015 fttobbunietcris https://doi.org/20.500.11851/2404 2024-09-05T23:43:58Z The purpose of this thesis is to check the effectiveness of monetary policy on macroeconomic indicators after the adoption of inflation targeting for randomly chosen 10 economies to fill the gap in the literature. For this purpose, the effectiveness of interest rates on output gap and inflation rates have been measured to compare the differences for pre and post targeting periods by evaluating VAR model analysis. The duration and magnitude of a shock is investigated by implementing impulse response functions. Effectiveness on output gap is found out significant for Iceland, South Korea, Mexico, Norway, Poland, Romania and Turkey and insignificant for Czech Republic, Republic of Serbia and the U.K. for pre-targeting period but significant for all economies for post-targeting period. Effectiveness on inflation has been found out significant for South Korea, Mexico, Romania and Turkey but insignificant for Czech Republic, Iceland, Norway, Poland, Republic of Serbia and the U.K. for pre-targeting. For post-targeting period, the findings have revealed effectiveness on inflation is significant for Czech Republic, Iceland, South Korea, Mexico, Norway, Poland, Republic of Serbia and the U.K. Findings reveal that effectiveness of monetary policy on output gap has been relevant for all countries after the adoption of inflation targeting by making effectiveness on output gap more obvious. The similar conclusion holds for effectiveness on inflation rates for post-targeting (except Turkey and Romania) implying the evidence for effectiveness on macroeconomic indicators after the adoption of inflation targeting. Keywords: Inflation Targeting Regime, VAR Model, Impulse Response Function, Effectiveness of Monetary Policy, Output Gap Bu çalışma, farklı zamanlarda enflasyon hedefleme rejimini benimsemiş olup rasgele seçilmiş 10 ekonominin, bu rejimin benimsenmesinden sonraki dönemlerde para politikasının makroekonomik göstergeler üzerindeki etkinliğini kontrol ederek ilgili literatürdeki boşluğu doldurmayı ... Master Thesis Iceland TOBB ETU GCRIS Database |
institution |
Open Polar |
collection |
TOBB ETU GCRIS Database |
op_collection_id |
fttobbunietcris |
language |
English |
topic |
Impulse Response Function Output Gap Effectiveness of Monetary Policy VAR Model Inflation Targeting Regime Ekonomik Çıktı Açığı Para Politikası Etkinliği Etki Tepki Fonksiyonu VAR Model Analizi Enflasyon Hedefleme Rejimi |
spellingShingle |
Impulse Response Function Output Gap Effectiveness of Monetary Policy VAR Model Inflation Targeting Regime Ekonomik Çıktı Açığı Para Politikası Etkinliği Etki Tepki Fonksiyonu VAR Model Analizi Enflasyon Hedefleme Rejimi Huyugüzel, Nurbanu Para politikası etkinliği ve enflasyon hedeflemesi |
topic_facet |
Impulse Response Function Output Gap Effectiveness of Monetary Policy VAR Model Inflation Targeting Regime Ekonomik Çıktı Açığı Para Politikası Etkinliği Etki Tepki Fonksiyonu VAR Model Analizi Enflasyon Hedefleme Rejimi |
description |
The purpose of this thesis is to check the effectiveness of monetary policy on macroeconomic indicators after the adoption of inflation targeting for randomly chosen 10 economies to fill the gap in the literature. For this purpose, the effectiveness of interest rates on output gap and inflation rates have been measured to compare the differences for pre and post targeting periods by evaluating VAR model analysis. The duration and magnitude of a shock is investigated by implementing impulse response functions. Effectiveness on output gap is found out significant for Iceland, South Korea, Mexico, Norway, Poland, Romania and Turkey and insignificant for Czech Republic, Republic of Serbia and the U.K. for pre-targeting period but significant for all economies for post-targeting period. Effectiveness on inflation has been found out significant for South Korea, Mexico, Romania and Turkey but insignificant for Czech Republic, Iceland, Norway, Poland, Republic of Serbia and the U.K. for pre-targeting. For post-targeting period, the findings have revealed effectiveness on inflation is significant for Czech Republic, Iceland, South Korea, Mexico, Norway, Poland, Republic of Serbia and the U.K. Findings reveal that effectiveness of monetary policy on output gap has been relevant for all countries after the adoption of inflation targeting by making effectiveness on output gap more obvious. The similar conclusion holds for effectiveness on inflation rates for post-targeting (except Turkey and Romania) implying the evidence for effectiveness on macroeconomic indicators after the adoption of inflation targeting. Keywords: Inflation Targeting Regime, VAR Model, Impulse Response Function, Effectiveness of Monetary Policy, Output Gap Bu çalışma, farklı zamanlarda enflasyon hedefleme rejimini benimsemiş olup rasgele seçilmiş 10 ekonominin, bu rejimin benimsenmesinden sonraki dönemlerde para politikasının makroekonomik göstergeler üzerindeki etkinliğini kontrol ederek ilgili literatürdeki boşluğu doldurmayı ... |
author2 |
TaÅŸ, Bedri Kamil Onur |
format |
Master Thesis |
author |
Huyugüzel, Nurbanu |
author_facet |
Huyugüzel, Nurbanu |
author_sort |
Huyugüzel, Nurbanu |
title |
Para politikası etkinliği ve enflasyon hedeflemesi |
title_short |
Para politikası etkinliği ve enflasyon hedeflemesi |
title_full |
Para politikası etkinliği ve enflasyon hedeflemesi |
title_fullStr |
Para politikası etkinliği ve enflasyon hedeflemesi |
title_full_unstemmed |
Para politikası etkinliği ve enflasyon hedeflemesi |
title_sort |
para politikasä± etkinliäÿi ve enflasyon hedeflemesi |
publisher |
TOBB ETÜ Sosyal Bilimler Enstitüsü |
publishDate |
2015 |
url |
https://hdl.handle.net/20.500.11851/2404 https://tez.yok.gov.tr/UlusalTezMerkezi/tezSorguSonucYeni.jsp |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
Tez https://tez.yok.gov.tr/UlusalTezMerkezi/tezSorguSonucYeni.jsp https://hdl.handle.net/20.500.11851/2404 |
op_rights |
open |
op_doi |
https://doi.org/20.500.11851/2404 |
_version_ |
1810451231269715968 |