AN ALTERNATIVE APPROACH TO ANALYZE THE MONETARY TRANSMISSION IN TURKEY: AN EMPIRICAL ANALYSIS ON SPEED OF ADJUSTMENT

Year 2012, Volume: 4 Issue: 7, 93 - 104, 05.02.2014

Ayhan Uçak Kasırga Yıldırak

Abstract

　

Parasal aktarma mekanizmasının para politikasının etkililiği üzerinde hayati rolü vardır. Politika faiz oranındaki değişiklikler reel büyüklüklere bu mekanizmanın kanalları vasıtası ile tesir eder. Bu gecikmeler ile ilgili olarak kullanılan faiz oranı geçişkenliği kavramı, piyasa ve banka faizlerinin politika faizine uyumunun derecesini ve hızını tanımlar. Bu çalışmada uyum hızı parametresinin tahmin edilebileceği bir model önerilerek, Türkiye’de banka kredi faizlerinin politika faizine dinamik uyum hızı karşılaştırmalı olarak analiz edilmektedir.

Anahtar Kelimeler: Para politikası, politika faizi, faiz oranı geçişkenliği, banka kredileri, Hull- White modeli, Kalman filtresi

Keywords

Para politikası, politika faizi, faiz oranı geçişkenliği, banka kredileri, HullWhite modeli, Kalman filtresi

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