Uluslararası Aktarım Kanalı Bağlamında Geleneksel ve Geleneksel Olmayan Para Politikası Stratejileri Üzerine Bir Karşılaştırma

Durmuş Çağrı Yıldırım; Buket Kırcı

doi:10.17233/sosyoekonomi.2020.04.07

Research Article

A Comparison on Conventional and Unconventional Monetary Policy Strategies in the Context of International Transmission Channel

Year 2020, Volume: 28 Issue: 46, 141 - 155, 31.10.2020

Durmuş Çağrı Yıldırım Buket Kırcı

https://doi.org/10.17233/sosyoekonomi.2020.04.07

Cited By: 1

Abstract

In this study, the effectiveness of conventional and unconventional monetary policy strategies is investigated for developing countries (Romania, Poland, Hungary and Turkey) for 2008:1-2017:5 period with panel VAR methodology. Results show that in the post-global crisis period, conventional policy implementations cannot create meaningful and lasting effects on GDP in developing countries. It has been seen that unconventional monetary policy doesn’t have a statistically significant effect on inflation, while its most severe and permanent effect is observed on the real effective exchange rate.

Keywords

Monetary Transmission Mechanism, International Transmission Mechanism, Unconventional Monetary Policies, Panel VAR Analysis

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