AN ESSAY UPON BUSINESS CYCLE FACTS: THE TURKISH CASE

Öz

In our paper, we try to investigate the main determinants of Turkish business cycles. Having examined some important issues of interest in business cycle theory, we estimate the business cycle stylized facts for the Turkish economy and compare the estimation results obtained in this paper to some benchmark papers chosen in business cycle literature. All in all, our estimation results give support to the importance of supply side models in explaining Turkish business cycles in line with contemporaneous Real Business Cycle Theory

Anahtar Kelimeler

• Business Cycles, Turkish Economy, Countercyclical Prices, Supply-Driven Models

AN ESSAY UPON BUSINESS CYCLE FACTS: THE TURKISH CASE

Öz

Çalışmamızda, Türk iç çevrimlerinin başlıca belirleyicileri araştırılmaya çalışılmaktadır. İş çevrim kuramlarının önemli bulunan bazı özellikleri açıklandıktan sonra Türkiye ekonomisi üzerine bir deneme gerçekleştirilmiş ve elde edilen tahmin sonuçları iktisat yazınında iş çevrim kuramlarının oluşumunu ortaya koyan başlıca çalışmalarda elde edilen tahmin sonuçları ile karşılaştırılmıştır. Sonuç olarak, tahmin bulgularımız çağdaş reel iş çevrim kuramını destekler nitelikte sonuçlar üretmiş, Türk iç çevrimlerini açıklamaya yönelik arzyönlü oluşturulacak kuramsal ve uygulama içerikli çalışmaların önemi vurgulanmıştır

Anahtar Kelimeler

• İş Çevrimleri, Türkiye Ekonomisi, Tersçevrimsel Fiyatlar, Arz-Yanlı Modeller

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