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The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach

Year 2013, Volume: 3 Issue: 4, 874 - 884, 01.12.2013

Taha Bahadır Sarac Okyay Ucan

Abstract

The monetary authority affects the aggregate demand and investment expenditure via controlling short run interest rates. It is important to satisfy the price stability together with working interest rate channel. This study aims to investigate the validity of interest rate channel in Turkey since the inflation targeting period starting with the year 2002. The sample period covers quarterly data from 1990:1 to 2011:3. It is stated that after the 2002 efficiency of interest rate channel increases.

Keywords

Kalman Filter Markov Switching Monetary Policy Turkey

Year 2013, Volume: 3 Issue: 4, 874 - 884, 01.12.2013

Taha Bahadır Sarac Okyay Ucan

Abstract

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Details

Other ID JA88GN49JR
Journal Section Research Article
Authors

Taha Bahadır Sarac This is me

Okyay Ucan This is me

Publication Date December 1, 2013
Published in Issue Year 2013 Volume: 3 Issue: 4

Cite

APA Sarac, T. B., & Ucan, O. (2013). The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach. International Journal of Economics and Financial Issues, 3(4), 874-884.
AMA Sarac TB, Ucan O. The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach. IJEFI. December 2013;3(4):874-884.
Chicago Sarac, Taha Bahadır, and Okyay Ucan. “The Interest Rate Channel in Turkey: An Investigation With Kalman Filter Approach”. International Journal of Economics and Financial Issues 3, no. 4 (December 2013): 874-84.
EndNote Sarac TB, Ucan O (December 1, 2013) The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach. International Journal of Economics and Financial Issues 3 4 874–884.
IEEE T. B. Sarac and O. Ucan, “The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach”, IJEFI, vol. 3, no. 4, pp. 874–884, 2013.
ISNAD Sarac, Taha Bahadır - Ucan, Okyay. “The Interest Rate Channel in Turkey: An Investigation With Kalman Filter Approach”. International Journal of Economics and Financial Issues 3/4 (December 2013), 874-884.
JAMA Sarac TB, Ucan O. The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach. IJEFI. 2013;3:874–884.
MLA Sarac, Taha Bahadır and Okyay Ucan. “The Interest Rate Channel in Turkey: An Investigation With Kalman Filter Approach”. International Journal of Economics and Financial Issues, vol. 3, no. 4, 2013, pp. 874-8.
Vancouver Sarac TB, Ucan O. The Interest Rate Channel in Turkey: An Investigation with Kalman Filter Approach. IJEFI. 2013;3(4):874-8.