A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy

Hüseyin Taştan; Bekir Aşık

EN TR

A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy

Öz

We estimate a canonical small open economy real business-cycle model and its several extensions using a Bayesian approach to explore the effects of different structural shocks on macroeconomic fluctuations in Turkey. Alternative models include several theoretical exogenous shocks, such as those to temporary and permanent productivity, world interest rates, preferences, and domestic spending, as driving forces together with financial frictions. Results indicate that output is mostly driven by trend growth shocks, while temporary shocks are relatively less important. Although empirical results generally favor the stochastic trend model, in which there are only transitory and permanent productivity shocks as causative elements, an extended model with random world interest rates and various financial frictions can be a viable alternative to explain economic fluctuations.

Anahtar Kelimeler

Real business-cycle models, financial frictions, Turkey, small open economy, emerging economies

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

Ekonomi

Bölüm

Araştırma Makalesi

Yazarlar

Hüseyin Taştan
Türkiye

Bekir Aşık Bu kişi benim
Türkiye

Yayımlanma Tarihi

1 Mayıs 2014

Gönderilme Tarihi

1 Mart 2014

Kabul Tarihi

-

Yayımlandığı Sayı

Yıl 2014 Cilt: 3 Sayı: 2

IZ

https://izlik.org/JA88BR27CB

APA

Taştan, H., & Aşık, B. (2014). A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy. Ekonomi-tek, 3(2), 27-50. https://izlik.org/JA88BR27CB

AMA

1.Taştan H, Aşık B. A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy. Ekonomi-tek. 2014;3(2):27-50. https://izlik.org/JA88BR27CB

Chicago

Taştan, Hüseyin, ve Bekir Aşık. 2014. “A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy”. Ekonomi-tek 3 (2): 27-50. https://izlik.org/JA88BR27CB.

EndNote

Taştan H, Aşık B (01 Mayıs 2014) A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy. Ekonomi-tek 3 2 27–50.

IEEE

[1]H. Taştan ve B. Aşık, “A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy”, Ekonomi-tek, c. 3, sy 2, ss. 27–50, May. 2014, [çevrimiçi]. Erişim adresi: https://izlik.org/JA88BR27CB

ISNAD

Taştan, Hüseyin - Aşık, Bekir. “A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy”. Ekonomi-tek 3/2 (01 Mayıs 2014): 27-50. https://izlik.org/JA88BR27CB.

JAMA

1.Taştan H, Aşık B. A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy. Ekonomi-tek. 2014;3:27–50.

MLA

Taştan, Hüseyin, ve Bekir Aşık. “A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy”. Ekonomi-tek, c. 3, sy 2, Mayıs 2014, ss. 27-50, https://izlik.org/JA88BR27CB.

Vancouver

1.Hüseyin Taştan, Bekir Aşık. A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy. Ekonomi-tek [Internet]. 01 Mayıs 2014;3(2):27-50. Erişim adresi: https://izlik.org/JA88BR27CB

A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy

Öz

Anahtar Kelimeler

A Bayesian Estimation of Real Business-Cycle Models for the Turkish Economy

Öz

Anahtar Kelimeler

Kaynakça

Ayrıntılar

Birincil Dil

Konular

Bölüm

Yazarlar

Yayımlanma Tarihi

Gönderilme Tarihi

Kabul Tarihi

Yayımlandığı Sayı

IZ

Kaynak Göster