Araştırma Makalesi

Structural Changes and Purchasing Power Parity in Turkish Exchange Rates

Cilt: 21 Sayı: 1 20 Mart 2019
İlhan Küçükkaplan , Hüseyin Ağır *, Çağın Karul , Ahmet Koncak
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Structural Changes and Purchasing Power Parity in Turkish Exchange Rates

Öz

We re-examine the purchasing power parity (PPP) hypothesis for Turkey by concentrating on modelling structural changes as sharp (with dummy variables) and smooth (with a Fourier approximation) process. The results show (i) more evidence in favor of PPP hypothesis when structural changes are taken into account and (ii) modelling the shifts with different approaches plays a crucial role for policy implications. 

Kaynakça

  1. Adigüzel, U, Şahbaz, A., Özcan, C. C. and Nazlioğlu, Ş. (2014). “The Behavior of Turkish Exchange Rates: A Panel Data Perspective”, Economic Modelling, 42, pp. 117-185.
  2. Bahmani-Oskooee, M., Chang, T., Liu W. C. (2014). “Revisiting Purchasing Power Parity in 34 OECD Countries: Sequential Panel Selection Method”, Applied Economics Letters 21(18), pp.1283-1287.
  3. Becker, R., Enders, W. and Lee, J. (2006). “A Stationarity Test in The Presence of an Unknown Number of Smooth Breaks”, Journal of Time Series Analysis 27, pp. 381–409.
  4. Carrion-I-Silvestre, J. L. and Sansó, A. (2007). “The KPSS Test with Two Structural Breaks”, Spanish Economic Review 9(2), pp. 105-127.
  5. Dickey, D. A. and Fuller, W. A. (1981). “Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root”, Econometrica, 49, pp. 1057-1072.
  6. Enders, W. and Lee, J. (2012). “The Flexible Fourier Form and Dickey-Fuller Type Unit Root Tests”, Economics Letters 117, pp. 196-199.
  7. Karagöz, K. ve Saraç, B. (2016). “Testing the Validity of PPP Theory for Turkey: Nonlinear Unit Root Testing”, Procedia Economics and Finance 38, pp. 458 – 467.
  8. Kurozumi, E. (2002). “Testing for Stationarity with a Break”, Journal of Econometrics 108(1), pp. 63-99.
  9. Kwiatkowski, D., Phillips, P. C.B., Schmidt, P. and Shin, Y. (1992). “Testing the Null Hypothesis of Stationary against the Alternative of a Unit Root”, Journal of Econometrics 54, pp. 159–178.
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Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yazarlar

Yayımlanma Tarihi

20 Mart 2019

Gönderilme Tarihi

18 Ekim 2018

Kabul Tarihi

20 Mart 2019

Yayımlandığı Sayı

Yıl 2019 Cilt: 21 Sayı: 1

DOI

https://doi.org/10.32709/akusosbil.471934

IZ

https://izlik.org/JA27CN35GL

Kaynak Göster

RIS / Bibtex
APA
Küçükkaplan, İ., Ağır, H., Karul, Ç., & Koncak, A. (2019). Structural Changes and Purchasing Power Parity in Turkish Exchange Rates. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi, 21(1), 203-208. https://doi.org/10.32709/akusosbil.471934
AMA
1.Küçükkaplan İ, Ağır H, Karul Ç, Koncak A. Structural Changes and Purchasing Power Parity in Turkish Exchange Rates. AKÜSBD. 2019;21(1):203-208. doi:10.32709/akusosbil.471934
Chicago
Küçükkaplan, İlhan, Hüseyin Ağır, Çağın Karul, ve Ahmet Koncak. 2019. “Structural Changes and Purchasing Power Parity in Turkish Exchange Rates”. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi 21 (1): 203-8. https://doi.org/10.32709/akusosbil.471934.
EndNote
Küçükkaplan İ, Ağır H, Karul Ç, Koncak A (01 Mart 2019) Structural Changes and Purchasing Power Parity in Turkish Exchange Rates. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi 21 1 203–208.
IEEE
[1]İ. Küçükkaplan, H. Ağır, Ç. Karul, ve A. Koncak, “Structural Changes and Purchasing Power Parity in Turkish Exchange Rates”, AKÜSBD, c. 21, sy 1, ss. 203–208, Mar. 2019, doi: 10.32709/akusosbil.471934.
ISNAD
Küçükkaplan, İlhan - Ağır, Hüseyin - Karul, Çağın - Koncak, Ahmet. “Structural Changes and Purchasing Power Parity in Turkish Exchange Rates”. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi 21/1 (01 Mart 2019): 203-208. https://doi.org/10.32709/akusosbil.471934.
JAMA
1.Küçükkaplan İ, Ağır H, Karul Ç, Koncak A. Structural Changes and Purchasing Power Parity in Turkish Exchange Rates. AKÜSBD. 2019;21:203–208.
MLA
Küçükkaplan, İlhan, vd. “Structural Changes and Purchasing Power Parity in Turkish Exchange Rates”. Afyon Kocatepe Üniversitesi Sosyal Bilimler Dergisi, c. 21, sy 1, Mart 2019, ss. 203-8, doi:10.32709/akusosbil.471934.
Vancouver
1.İlhan Küçükkaplan, Hüseyin Ağır, Çağın Karul, Ahmet Koncak. Structural Changes and Purchasing Power Parity in Turkish Exchange Rates. AKÜSBD. 01 Mart 2019;21(1):203-8. doi:10.32709/akusosbil.471934

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