TY  - JOUR
TT  - Estimation Of Money Supply Reaction Function By Using Time Varying Parameter Model With Heteroskedastic Disturbances
AU  - Telatar, Erdinç
PY  - 2001
DA  - December
JF  - Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
PB  - Hacettepe Üniversitesi
WT  - DergiPark
SN  - 1301-8752
SP  - 1
EP  - 17
VL  - 19
IS  - 2
KW  - : Para arzı
KW  - reaksiyon fonksiyonu
KW  - Markov-Değişimli model
N2  -  The purpose of this study is to estimate a reactionfunction used by monetary authority in conducting its policies for the periodof 1987-2000 in Turkey. A time varying parameter model with heteroskedasticdisturbances is used in the estimation procedure. Results indicate that therehad been an unstable relationship between the growth rate of currency incirculation used as policy instrument, and the volatility of inflation. This findingsupports the fact why contractionary monetary policy alone had not beensufficient to reduce inflation during the sample period as a result ofuncertainty, which was due to the changes in regression coefficients of thepolicy reaction function.  
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UR  - https://dergipark.org.tr/tr/pub/huniibf/issue//319319
L1  - https://dergipark.org.tr/tr/download/article-file/311256
ER  -