Abstract

In this study, Shopping Costs version of Money Services Model constructed by Ratti and Jeong (1994) was applied to Turkish monthly data for the period of 1989:011999:12. Since structural break is founded in the data, cointegration analysis and error correction model are employed in the light of structural break. According to the empirical finding, it is founded that one of the sources of currency substitution is reel exchange rate uncertainty in Turkey

Keywords

• Currency substitution,cointegration,structural break,real exchange rate uncertainty

Alışveriş Maliyetleri Parasal Hizmet Modeli: Türkiye Örneği

Abstract

Bu çalışmada, Ratti ve Jeong (1994)’ın Alışveriş Maliyetleri Parasal Hizmet Modeli, 1989:01-1999:12 dönemlerini kapsayan Türkiye’nin aylık verilerine uygulanmıştır. Veri setinde yapısal kırılma tespit edildiğinden eşbütünleşme ve hata düzeltme modelleri, yapısal kırılma dikkate alınarak uygulanmıştır. Elde edilen ampirik bulgulara göre, Türkiye’de reel döviz kurunun para ikamesinin kaynaklarından biri olduğu yönünde deliller ortaya konmuştur

Keywords

• Para ikamesi,eşbütünleşme,yapısal kırılma,reel döviz kuru belirsizliği

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