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TÜRKİYE EKONOMİSİNDE FİYAT KATILIKLARI

Yıl 2016, Cilt: 5 Sayı: 10, 19 - 29, 01.07.2016

Öz

Fiyat belirleme mekanizmasının nasıl işlediği makroekonominin en temel konularından biridir. Konjonktür dalgalanmalarının kaynakları ve aynı zamanda para politikasının ekonomi üzerindeki etkileri, fiyat değişimleri üzerinde gözlenebilir. Eğer fiyatlar yapışkansa (nominal şoklara yavaş tepki veriyorlarsa), merkez bankaları üretilen mal ve hizmetlerin reel miktarını etkileyebilirler. Fiyatların esnek olduğunu öngören Monetarizm ve Yeni Klasik makro ekonomi yaklaşımları aktif makroekonomik politikalara gerek olmadığını söylüyordu. Fiyatların ve ücretlerin katı olduğu varsayımı üzerine inşa edilmiş Yeni Keynesyen iktisat teorisine göre ise para nötr değildir ve parasal genişleme ekonomide reel sonuçlar üretir. Türkiye ekonomisi için hangi yaklaşımın geçerli olduğuna karar verebilmek için bu çalışmada fiyat katılıkları incelenmiştir. Ayrıca, ana harcama kalemleri bazında nominal fiyat değişimlerinin homojen dağılıp dağılmadıkları incelenmiş ve geometrik yoğunluk eğrileri, ortalaması medyanı, standart sapması elde edilmiştir. Bu amaçla Türkiye İstatistik Kurumu’ndan (TÜİK) temin edilen ve 2005:01-2014:12 dönemini kapsayan 331 maddenin fiyatı kullanılmıştır. Çalışmalar matlab ile hesaplanmıştır. Çalışmanın sonunda nominal fiyat katılıklarının düşük olduğu bulunmuştur.

Kaynakça

  • Abdioğlu, Z.:(2010).“Yeni Keynesyenlerde Fiyat ve Ücret Katılıkları: Türkiye Örneği”, Doktora Tezi, Karadeniz Teknik Üniversitesi
  • Alvarez, L.J., Dhyne, E., Hoeberıchts.: (2005)“Sticky Prices in the Euro Area: A summary of new Micro Evidence”, ECB Working Paper, No: 63.
  • Arrow, K. J.:(1954)“The Existence of an Equilibrium for a Competitive Economy”, Econometrica, XXII, 265-290.
  • Bernanke, B., Blınder A.: (1992)“The Federal Funds Rate and the Channels of Monetary Transmission”, American Economic Review, 82, 901-921.
  • Bernanke, B., Gertler, M., Watson, M.: (1997).“Systematic Monetary Policy and the Effects of Oil Price Shocks”, Brookings Papers on Economic Activity, 1997:1, 91-142
  • Bernanke, B., Mıhov, I.: (1998)“The Liquidity Effect and Long-Run Neutrality”, Carnegie Rochester Conference Series on Public Policy, 49, 149-194.
  • Bernanke, B., Boıvın, J.: (2003).“Monetary Policy in a Data-Rich Environment”, Journal of Monetary Economics, 50:3, 525-546.
  • Boıvın, J., Gıannonı, M. P., Mıhov, I.: (2009).“Sticky Prices and Monetary Policy: Evidence from Disaggregated US Data”, American Economic Review, 99:1, 350-384.
  • Calvo, G. A.: (1983).“Staggered Prices in a Utility-Maximizing Framework”, Journal of Monetary Economics, 12, 383-398.
  • Chrıstıano, L. J., Eıchenbaum, M., Evans, C.: (1999)“Monetary Policy Shocks: What Have Learned and to What End?” Handbook of Macroeconomics, Cilt 1A, 65-48.
  • Creamer, K., Rankın, N.A.: (2008)“Price setting in south africa 2001–2007- stylised facts using consumer price micro data”, Journal of Development Perspectives, 1(4), 93-118.
  • Dotsey, M., Kıng, R., Wolman, A.: (1999)“State-Dependent Pricing and General Equilibrium Dynamics of Money and Output”, Quarterly Journal of Economics, 93, 655-690.
  • Eden, B.: (2001)“Inflation and price adjustment: An analysis of microdata”, Review of Economic Dynamics, 4, 607-636.
  • Fıscher, S.: (1977)“Long-Term Contracts, Rational Expectations, and the Optimal Mone Supply Rule”, Journal of Political Economy, 85(1), 191-205.
  • Golosov, M., Lucas R.E.: (2007)“Menu Costs and Phillips Curves”, Journal of Political Economy, 115, 171-199.
  • Hansen, B.W., Hansen, N.L.: (2006)“Price Setting Behaviour in Denmark: A study of CPI micro data 1997-2005”, Denmark Nationalbank Working Paper, 39.
  • Ikeda, D., Nıshıoka, S.: (2007)“Price Setting Behaviour and Hazard Functions: Evidence From Japanese CPI micro data”, Bank of Japan Working Paper, 07-E-19.
  • Kackmeıster, A.: (2007)“Yesterday’s Bad Times Are Today’s Good Old Times: Retail Price ChangesAre More Frequent Today Than in the 1890s”, Journal of Money, Credit and Banking, 39(8), 1987-2020.
  • Kashyap, A. K.: (1995)“Sticky Prices: New Evidence from Retail Catalogs”, Quarterly Journal of Economics, 100(1), 245-274.
  • Keynes J. M.: (1936)“The General Theory Of Employment”, Palgrave Macmillan.
  • Klenow, P. J., Kryvtsov, O., (2008)“State-Dependent or Time-Dependent Pricing: Does It Matter for Recent U.S. Inflation?”, Quarterly Journal of Economics, 123(3), 863-904.
  • Lucas, R.E.: (1972)“Expectations And The Neutrality Of Money”, Journal Of Economic Theory, 4, 103-124.
  • Lucas, R.E.: (1980)“The Death Of Keynesian Economics: Issues And Ideas”, University Of Chicago, Winter.
  • Lucas, R.E.: (1981)“Studies İn Business Cycle Theory”, Oxford, Basil Blackwell.
  • Macdonald, J. M., Aaronson, D.: (2000)“How Do Retail Prices React To Minimum Wage Increases?”, Federal Reserve Bank Of Chicago Working Paper, Wp-00-20.
  • Medına, J. P., Rappoport, D., Soto, C.: (2007)“Dynamics Of Price Adjustment: Evidence From Micro Level Data For Chile”, Central Bank Of Chile, 432.
  • Özmen, M.U., Sevinç, O.: (2011)“Price Rigidity İn Turkey: Evidence From Micro Data”, Tcmb Working Paper, No: 11/25.
  • Taylor, J.B.: (1979)“Monetary Policy During A Transition To Rational Expectations”, Journal Of Political Economy, 69, 108-113.
  • Taylor, J.B.: (1980)“Aggregate Dynamics And Staggered Contracts”, Journal Of Political Economy, 88, 1-23.
  • Taylor, J.B.: (1999)“Staggered price and wage setting in macroeconomics”, Handbook of Macroeconomics, 1 (B), 1009-1050.
  • Walras, L.: (1954)“Elements Of Pure Economics”, İlk Basım 1877, 17-47.

PRICE RIGIDITY IN TURKISH ECONOMY Yazar/Author

Yıl 2016, Cilt: 5 Sayı: 10, 19 - 29, 01.07.2016

Öz

Price setting mechanism is one of the fundamental topics in macroeconomic theory. Causes of business cycles and effects of monetary policy on the economy can be observed with price changes. If prices are rigid (which causes slow response to the nominal shocks), central bank can influence the real quantity of produced goods and services. According to monetarism and new classical economic approaches, prices are flexible and there is no need for macroeconomic policies. On the other hand, New Keynesian economic theory is built on the assumption that prices and wages are sticky. Therefore, money is not neutral and monetary expansion results in real effects in an economy. In this paper we investigate the price rigidities in Turkey. Also, we investigate if the nominal changes are distributed homogeneously or not on the basis of main expenditure items and geometric density curves, average, median and standard deviation of price changes were obtained. For these purposes we used price of the 331 goods in 2005: 01-2014:12 period obtained from Turkey Statistical Institute (TUIK). The calculations are done by matlab. According to our results price rigidity is low in Turkey

Kaynakça

  • Abdioğlu, Z.:(2010).“Yeni Keynesyenlerde Fiyat ve Ücret Katılıkları: Türkiye Örneği”, Doktora Tezi, Karadeniz Teknik Üniversitesi
  • Alvarez, L.J., Dhyne, E., Hoeberıchts.: (2005)“Sticky Prices in the Euro Area: A summary of new Micro Evidence”, ECB Working Paper, No: 63.
  • Arrow, K. J.:(1954)“The Existence of an Equilibrium for a Competitive Economy”, Econometrica, XXII, 265-290.
  • Bernanke, B., Blınder A.: (1992)“The Federal Funds Rate and the Channels of Monetary Transmission”, American Economic Review, 82, 901-921.
  • Bernanke, B., Gertler, M., Watson, M.: (1997).“Systematic Monetary Policy and the Effects of Oil Price Shocks”, Brookings Papers on Economic Activity, 1997:1, 91-142
  • Bernanke, B., Mıhov, I.: (1998)“The Liquidity Effect and Long-Run Neutrality”, Carnegie Rochester Conference Series on Public Policy, 49, 149-194.
  • Bernanke, B., Boıvın, J.: (2003).“Monetary Policy in a Data-Rich Environment”, Journal of Monetary Economics, 50:3, 525-546.
  • Boıvın, J., Gıannonı, M. P., Mıhov, I.: (2009).“Sticky Prices and Monetary Policy: Evidence from Disaggregated US Data”, American Economic Review, 99:1, 350-384.
  • Calvo, G. A.: (1983).“Staggered Prices in a Utility-Maximizing Framework”, Journal of Monetary Economics, 12, 383-398.
  • Chrıstıano, L. J., Eıchenbaum, M., Evans, C.: (1999)“Monetary Policy Shocks: What Have Learned and to What End?” Handbook of Macroeconomics, Cilt 1A, 65-48.
  • Creamer, K., Rankın, N.A.: (2008)“Price setting in south africa 2001–2007- stylised facts using consumer price micro data”, Journal of Development Perspectives, 1(4), 93-118.
  • Dotsey, M., Kıng, R., Wolman, A.: (1999)“State-Dependent Pricing and General Equilibrium Dynamics of Money and Output”, Quarterly Journal of Economics, 93, 655-690.
  • Eden, B.: (2001)“Inflation and price adjustment: An analysis of microdata”, Review of Economic Dynamics, 4, 607-636.
  • Fıscher, S.: (1977)“Long-Term Contracts, Rational Expectations, and the Optimal Mone Supply Rule”, Journal of Political Economy, 85(1), 191-205.
  • Golosov, M., Lucas R.E.: (2007)“Menu Costs and Phillips Curves”, Journal of Political Economy, 115, 171-199.
  • Hansen, B.W., Hansen, N.L.: (2006)“Price Setting Behaviour in Denmark: A study of CPI micro data 1997-2005”, Denmark Nationalbank Working Paper, 39.
  • Ikeda, D., Nıshıoka, S.: (2007)“Price Setting Behaviour and Hazard Functions: Evidence From Japanese CPI micro data”, Bank of Japan Working Paper, 07-E-19.
  • Kackmeıster, A.: (2007)“Yesterday’s Bad Times Are Today’s Good Old Times: Retail Price ChangesAre More Frequent Today Than in the 1890s”, Journal of Money, Credit and Banking, 39(8), 1987-2020.
  • Kashyap, A. K.: (1995)“Sticky Prices: New Evidence from Retail Catalogs”, Quarterly Journal of Economics, 100(1), 245-274.
  • Keynes J. M.: (1936)“The General Theory Of Employment”, Palgrave Macmillan.
  • Klenow, P. J., Kryvtsov, O., (2008)“State-Dependent or Time-Dependent Pricing: Does It Matter for Recent U.S. Inflation?”, Quarterly Journal of Economics, 123(3), 863-904.
  • Lucas, R.E.: (1972)“Expectations And The Neutrality Of Money”, Journal Of Economic Theory, 4, 103-124.
  • Lucas, R.E.: (1980)“The Death Of Keynesian Economics: Issues And Ideas”, University Of Chicago, Winter.
  • Lucas, R.E.: (1981)“Studies İn Business Cycle Theory”, Oxford, Basil Blackwell.
  • Macdonald, J. M., Aaronson, D.: (2000)“How Do Retail Prices React To Minimum Wage Increases?”, Federal Reserve Bank Of Chicago Working Paper, Wp-00-20.
  • Medına, J. P., Rappoport, D., Soto, C.: (2007)“Dynamics Of Price Adjustment: Evidence From Micro Level Data For Chile”, Central Bank Of Chile, 432.
  • Özmen, M.U., Sevinç, O.: (2011)“Price Rigidity İn Turkey: Evidence From Micro Data”, Tcmb Working Paper, No: 11/25.
  • Taylor, J.B.: (1979)“Monetary Policy During A Transition To Rational Expectations”, Journal Of Political Economy, 69, 108-113.
  • Taylor, J.B.: (1980)“Aggregate Dynamics And Staggered Contracts”, Journal Of Political Economy, 88, 1-23.
  • Taylor, J.B.: (1999)“Staggered price and wage setting in macroeconomics”, Handbook of Macroeconomics, 1 (B), 1009-1050.
  • Walras, L.: (1954)“Elements Of Pure Economics”, İlk Basım 1877, 17-47.
Toplam 31 adet kaynakça vardır.

Ayrıntılar

Diğer ID JA58MH46RU
Bölüm Araştırma Makalesi
Yazarlar

Bige Küçükefe Bu kişi benim

Yayımlanma Tarihi 1 Temmuz 2016
Yayımlandığı Sayı Yıl 2016 Cilt: 5 Sayı: 10

Kaynak Göster

APA Küçükefe, B. (2016). TÜRKİYE EKONOMİSİNDE FİYAT KATILIKLARI. Balkan Sosyal Bilimler Dergisi, 5(10), 19-29.