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ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE

Year 2011, Issue: 60, 119 - 143, 25.01.2012

Deniz Giz Seçil Cecan

Abstract

Bu çalışmada, enflasyon hedeflemesinin makroekonomik istikrar üzerinde ne kadar etkili olduğunu ve hangi koşullarda başarılı sonuçlar vereceği tartışılmakta ve Türkiye'deki enflasyon hedeflemesi uygulaması incelenmektedir. Çalışmada, enflasyon hedeflemesinin makroekonomik istikrarı sağlamada yeterli olmayacağı diğer ekonomi politikaları ve yapısal tedbirlerle desteklenmesi gerektiği ileri sürülmektedir. Enflasyon hedeflemesinin Türkiye gibi gelişmekte olan ülkelerde gelişmiş ülkelerde olduğu gibi başarı sağlamadığı anlaşılmıştır. Türkiye'nin ön koşulları yerine getirme çabalarına hız vermesi ve enflasyon hedefi için indeks olarak tüketici fiyat indeksi yerine çekirdek enflasyonun kabul edilmesinin yararlı olacağı sonucuna varılmıştır.

Keywords

Enflasyon hedeflemesi para politikası stratejisi makroekonomik istikrar ekonomik kriz

References

  • BANK OF CANADA (2006), Renewal of the Inflation-Control Target, Erişim: 15.10.2009, http://www.bankofcanada.ca
  • BANK OF ENGLAND, resmi web sitesi, Erişim: 15.10.2009, http://www.bankofengland.co.uk
  • BERNANKE, B.S., LAUBACH, T., MISHKIN, F.S. ve POSEN, A.S. (2001), Inflation Targeting: Lessons from the International Experience, Princeton University Press: New Jersey, s.s. 25-38.
  • BERNANKE, B.S. ve MISHKIN, F.S. (1997), “Inflation Targeting: A New Framework for Monetary Policy?”, NBER Working Paper Series , No: 5893, Ocak 1997.
  • BOGDANSKI, J., TOMBINI, A.A. ve WERLANG, S.R.C. (2000), “Implementing İnflation Targeting in Brazil”, Banco Cetral Do Brasil Workin Paper Series, No:1.
  • CIHAK, M. ve HOLUB, T. (1998), “Inflation targeting in the Czech Republic”, Eastern European Economics, vol. 36, no. 3, s.s. 49-67.
  • CLIFTON, E.V., LEON, H., ve Wong, C.H. (2001), “Inflation Targeting and the Unemployment-Inflation Trade-off”, IMF Working Paper, No: 01/166, Ekim 2001.
  • CORBO, V., HEBBEL, K.S. ve LANDERRETCHE, O. (2001), “Does Inflation Targeting Make a Difference?”, Central Bank of Chile Working Papers, No: 106, Eylül 2001. CZECH NATIONAL http://www.cnb.cz/en/index.html Erişim: 16.10.2009,
  • EUROPEAN CENTRAL BANK, Resmi internet sitesi, Erişim: 16.10.2009, www.ecb.int
  • FISHER, I. (1911), The Purchasing Power of Money, MacMillan.
  • JADRESIC, E. (1999), “Inflation Targeting and Output Stability”, IMF Working Paper, No: 99/61, Nisan 1999.
  • JONAS, J. ve MISHKIN, F.S. (2003), “Inflation Targeting in Transition Countries: Experience and Prospects”, NBER Working Paper Series, No: 9667, Nisan 2003.
  • KEYNES, J.M. (1923), A Tract on Monetary Reform, London: MacMillan.
  • LANDERRETCHE, O., Morandé, F. ve Schmidt-Hebbel, K. (1999), “Inflation Target and Stabilisation in Chile”, Central Bank of Chile Working Papers, No: 55.
  • MARSHALL, A. (1887), “Remedies for Fluctuation in General Prices”, The Contemporary Review; FISHER, I. (1912), “A Compansated Dollar”, New York Times, 18 Ekim 1912, s. 10.
  • MASSON, P.R., SAVASTANO, M.A. ve SHARMA, S. (1997), “The Scope for Inflation Targeting in Developing Countries”, IMF Working Papers, No: 97/130, Ekim 1997.
  • MCCALLUM, B.T. (2001), “Inflation Targeting and The Liquidity Trap”, NBER Working Paper, No: 8225.
  • MISHKIN, F.S. (2000), The Economics of Money, Banking and Financial Markets, Addison Wesley: New York, p.p. 521-522.
  • MISHKIN, F.S. (2000), “Inflation Targeting in Emerging Market Countries”, NBER Working Paper Series, No: 7618, Mart 2000.
  • MISHKIN, F.S. ve SAVASTANO, M. A. (1999), “Monetary Policy Strategies for Latin America”, Journal of Development Economics, No: 7617, Mart 2000.
  • PHILLIPS, A.W. (1958), “The Relation Between Unemployment and the Rate of Change of Money Wages in the United Kingdom, 1861-1957”, Economica, Kasım, s.s. 283-299.
  • RESERVE BANK OF NEW ZEALAND (2008), Policy Targets Agreement, 18 Aralık 2008, Erişim: 12.10.2009, http://www.rbnz.govt.nz/monpol/pta/
  • SVENSSON, L.E.O., (1997a). "Optimal Inflation Targets, Conservative Central Banks, and Linear Inflation Contracts", American Economic Review, American Economic Association, vol. 87(1), S.S. 98-114, Mart 1997.
  • SVENSSON, L.E.O., (1997b). "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets" European Economic Review, Elsevier, vol. 41(6), S.S. 1111-1146, Haziran 1997.
  • SVENSSON, L.E.O. (2009b), “Flexible Inflation Targeting: Lessons from the Financi-al Crisis”, speech on 21 Eylül 2009, www.riksbank.se.
  • SVERIGES RISKBANK (2008), Monetary Policy in Sweden, Erişim: 15.10.2009, www.riksbank.se
  • TAYLOR, J.B. (1983), Macroeconomic Policy in the World Economy: From Econometric Design to Practical Operations, W.W. Norton and Company, New York.
  • TAYLOR, J.B., (1993), “Discretion versus Policy Rules in Practice”, Carnegie- Rochester Conference Series on Public Policy, Aralık 1993, No: 39, s.s. 195-214.
  • TAYLOR, J.B., (1999), Monetary Policy Rules, Chicago: University of Chicago.
  • T.C. BAŞBAKANLIK HAZİNE MÜSTEŞARLIĞI (2001), Güçlü Ekonomiye Geçiş Programı: Hedefler, Politikalar ve Uygulamalar, Mayıs 2001, Ankara.
  • TCMB (2006), Enflasyon Hedeflemesi Rejimi, TCMB Yayını, Erişim: 20.10.2009, www.tcmb.gov.tr
  • TOBIN, J. (1972), “Inflation and Unemployment”, The American Economic Review, Vol. 62, ss: 1-18.
  • WHITE, H. L. (2007), “What Type Of Inflation Target?”, Cato Journal, 27 (2), s.s. 283 – 288.
  • WICKSELL, K. (1898), Interest and Prices, MacMillan.

Year 2011, Issue: 60, 119 - 143, 25.01.2012

Deniz Giz Seçil Cecan

Abstract

References

  • BANK OF CANADA (2006), Renewal of the Inflation-Control Target, Erişim: 15.10.2009, http://www.bankofcanada.ca
  • BANK OF ENGLAND, resmi web sitesi, Erişim: 15.10.2009, http://www.bankofengland.co.uk
  • BERNANKE, B.S., LAUBACH, T., MISHKIN, F.S. ve POSEN, A.S. (2001), Inflation Targeting: Lessons from the International Experience, Princeton University Press: New Jersey, s.s. 25-38.
  • BERNANKE, B.S. ve MISHKIN, F.S. (1997), “Inflation Targeting: A New Framework for Monetary Policy?”, NBER Working Paper Series , No: 5893, Ocak 1997.
  • BOGDANSKI, J., TOMBINI, A.A. ve WERLANG, S.R.C. (2000), “Implementing İnflation Targeting in Brazil”, Banco Cetral Do Brasil Workin Paper Series, No:1.
  • CIHAK, M. ve HOLUB, T. (1998), “Inflation targeting in the Czech Republic”, Eastern European Economics, vol. 36, no. 3, s.s. 49-67.
  • CLIFTON, E.V., LEON, H., ve Wong, C.H. (2001), “Inflation Targeting and the Unemployment-Inflation Trade-off”, IMF Working Paper, No: 01/166, Ekim 2001.
  • CORBO, V., HEBBEL, K.S. ve LANDERRETCHE, O. (2001), “Does Inflation Targeting Make a Difference?”, Central Bank of Chile Working Papers, No: 106, Eylül 2001. CZECH NATIONAL http://www.cnb.cz/en/index.html Erişim: 16.10.2009,
  • EUROPEAN CENTRAL BANK, Resmi internet sitesi, Erişim: 16.10.2009, www.ecb.int
  • FISHER, I. (1911), The Purchasing Power of Money, MacMillan.
  • JADRESIC, E. (1999), “Inflation Targeting and Output Stability”, IMF Working Paper, No: 99/61, Nisan 1999.
  • JONAS, J. ve MISHKIN, F.S. (2003), “Inflation Targeting in Transition Countries: Experience and Prospects”, NBER Working Paper Series, No: 9667, Nisan 2003.
  • KEYNES, J.M. (1923), A Tract on Monetary Reform, London: MacMillan.
  • LANDERRETCHE, O., Morandé, F. ve Schmidt-Hebbel, K. (1999), “Inflation Target and Stabilisation in Chile”, Central Bank of Chile Working Papers, No: 55.
  • MARSHALL, A. (1887), “Remedies for Fluctuation in General Prices”, The Contemporary Review; FISHER, I. (1912), “A Compansated Dollar”, New York Times, 18 Ekim 1912, s. 10.
  • MASSON, P.R., SAVASTANO, M.A. ve SHARMA, S. (1997), “The Scope for Inflation Targeting in Developing Countries”, IMF Working Papers, No: 97/130, Ekim 1997.
  • MCCALLUM, B.T. (2001), “Inflation Targeting and The Liquidity Trap”, NBER Working Paper, No: 8225.
  • MISHKIN, F.S. (2000), The Economics of Money, Banking and Financial Markets, Addison Wesley: New York, p.p. 521-522.
  • MISHKIN, F.S. (2000), “Inflation Targeting in Emerging Market Countries”, NBER Working Paper Series, No: 7618, Mart 2000.
  • MISHKIN, F.S. ve SAVASTANO, M. A. (1999), “Monetary Policy Strategies for Latin America”, Journal of Development Economics, No: 7617, Mart 2000.
  • PHILLIPS, A.W. (1958), “The Relation Between Unemployment and the Rate of Change of Money Wages in the United Kingdom, 1861-1957”, Economica, Kasım, s.s. 283-299.
  • RESERVE BANK OF NEW ZEALAND (2008), Policy Targets Agreement, 18 Aralık 2008, Erişim: 12.10.2009, http://www.rbnz.govt.nz/monpol/pta/
  • SVENSSON, L.E.O., (1997a). "Optimal Inflation Targets, Conservative Central Banks, and Linear Inflation Contracts", American Economic Review, American Economic Association, vol. 87(1), S.S. 98-114, Mart 1997.
  • SVENSSON, L.E.O., (1997b). "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets" European Economic Review, Elsevier, vol. 41(6), S.S. 1111-1146, Haziran 1997.
  • SVENSSON, L.E.O. (2009b), “Flexible Inflation Targeting: Lessons from the Financi-al Crisis”, speech on 21 Eylül 2009, www.riksbank.se.
  • SVERIGES RISKBANK (2008), Monetary Policy in Sweden, Erişim: 15.10.2009, www.riksbank.se
  • TAYLOR, J.B. (1983), Macroeconomic Policy in the World Economy: From Econometric Design to Practical Operations, W.W. Norton and Company, New York.
  • TAYLOR, J.B., (1993), “Discretion versus Policy Rules in Practice”, Carnegie- Rochester Conference Series on Public Policy, Aralık 1993, No: 39, s.s. 195-214.
  • TAYLOR, J.B., (1999), Monetary Policy Rules, Chicago: University of Chicago.
  • T.C. BAŞBAKANLIK HAZİNE MÜSTEŞARLIĞI (2001), Güçlü Ekonomiye Geçiş Programı: Hedefler, Politikalar ve Uygulamalar, Mayıs 2001, Ankara.
  • TCMB (2006), Enflasyon Hedeflemesi Rejimi, TCMB Yayını, Erişim: 20.10.2009, www.tcmb.gov.tr
  • TOBIN, J. (1972), “Inflation and Unemployment”, The American Economic Review, Vol. 62, ss: 1-18.
  • WHITE, H. L. (2007), “What Type Of Inflation Target?”, Cato Journal, 27 (2), s.s. 283 – 288.
  • WICKSELL, K. (1898), Interest and Prices, MacMillan.
There are 34 citations in total.

Details

Primary Language Turkish
Journal Section Makaleler
Authors

Deniz Giz This is me

Seçil Cecan This is me

Publication Date January 25, 2012
Submission Date January 25, 2012
Published in Issue Year 2011 Issue: 60

Cite

APA Giz, D., & Cecan, S. (2012). ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE. Sosyal Siyaset Konferansları Dergisi(60), 119-143.
AMA Giz D, Cecan S. ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE. Sosyal Siyaset Konferansları Dergisi. January 2012;(60):119-143.
Chicago Giz, Deniz, and Seçil Cecan. “ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE”. Sosyal Siyaset Konferansları Dergisi, no. 60 (January 2012): 119-43.
EndNote Giz D, Cecan S (January 1, 2012) ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE. Sosyal Siyaset Konferansları Dergisi 60 119–143.
IEEE D. Giz and S. Cecan, “ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE”, Sosyal Siyaset Konferansları Dergisi, no. 60, pp. 119–143, January 2012.
ISNAD Giz, Deniz - Cecan, Seçil. “ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE”. Sosyal Siyaset Konferansları Dergisi 60 (January 2012), 119-143.
JAMA Giz D, Cecan S. ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE. Sosyal Siyaset Konferansları Dergisi. 2012;:119–143.
MLA Giz, Deniz and Seçil Cecan. “ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE”. Sosyal Siyaset Konferansları Dergisi, no. 60, 2012, pp. 119-43.
Vancouver Giz D, Cecan S. ENFLASYON HEDEFLEMESİ, MAKROEKONOMİK İSTİKRAR VE TÜRKİYE. Sosyal Siyaset Konferansları Dergisi. 2012(60):119-43.
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