EN
TR
MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY
Abstract
In this paper, a money demand model upon M2 broad monetary aggregate for the Turkish
economy is examined in a portfolio-based approach considering various alternative cost
measures to hold money. Employing multivariate co-integration methodology of same order
integrated variables, our estimation results indicate that there exists a theoretically plausible
co-integrating vector in the long-run money demand variable space. The main alternative
costs to demand for money are found as the depreciation rate of domestic currency and the
course of equity prices, for which the former brings out the importance of currency substitution
phenomenon settled in the economy. Besides, we find that domestic inflation carries a
weakly exogenous characteristic and conclude that the main factors leading to the domestic
inflation are determined out of the money demand variable space.
Keywords
Details
Primary Language
Turkish
Subjects
-
Journal Section
-
Publication Date
June 1, 2008
Submission Date
June 1, 2008
Acceptance Date
-
Published in Issue
Year 2008 Volume: 8 Number: 15
APA
Saatçioğlu, C., & Korap, L. (2008). MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY. Sosyal Ekonomik Araştırmalar Dergisi, 8(15), 1-13. https://izlik.org/JA58HB42HK
AMA
1.Saatçioğlu C, Korap L. MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY. SUSEAD. 2008;8(15):1-13. https://izlik.org/JA58HB42HK
Chicago
Saatçioğlu, Cem, and Levent Korap. 2008. “MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY”. Sosyal Ekonomik Araştırmalar Dergisi 8 (15): 1-13. https://izlik.org/JA58HB42HK.
EndNote
Saatçioğlu C, Korap L (June 1, 2008) MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY. Sosyal Ekonomik Araştırmalar Dergisi 8 15 1–13.
IEEE
[1]C. Saatçioğlu and L. Korap, “MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY”, SUSEAD, vol. 8, no. 15, pp. 1–13, June 2008, [Online]. Available: https://izlik.org/JA58HB42HK
ISNAD
Saatçioğlu, Cem - Korap, Levent. “MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY”. Sosyal Ekonomik Araştırmalar Dergisi 8/15 (June 1, 2008): 1-13. https://izlik.org/JA58HB42HK.
JAMA
1.Saatçioğlu C, Korap L. MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY. SUSEAD. 2008;8:1–13.
MLA
Saatçioğlu, Cem, and Levent Korap. “MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY”. Sosyal Ekonomik Araştırmalar Dergisi, vol. 8, no. 15, June 2008, pp. 1-13, https://izlik.org/JA58HB42HK.
Vancouver
1.Cem Saatçioğlu, Levent Korap. MODELING TURKISH M2 BROAD MONEY DEMAND: A PORTFOLIO-BASED APPROACH USING IMPLICATIONS FOR MONETARY POLICY. SUSEAD [Internet]. 2008 Jun. 1;8(15):1-13. Available from: https://izlik.org/JA58HB42HK