STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST

Fındık Özlem Alper; Ali Eren Alper

doi:10.25287/ohuiibf.1510489

EN TR

STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST

Öz

This study aims to investigate the stationarity of long-term real interest rates for the top 10 countries with the highest long-term real interest rates among OECD countries in order to determine the effectiveness of monetary policies to be implemented. The study is one of the first to consider both structural breaks and nonlinearity to determine the effectiveness of policies to be implemented regarding interest rates. As a result of the Ranjbar et al. (2018) unit root test allowing for both structural changes and nonlinearity, the long-term real interest rates are stationary at the level for Turkey and Colombia; whereas not stationary at the level for the USA, Chile, Hungary, Iceland, Korea, Norway, Poland, and Canada. According to the results, it was determined that the policies to be implemented regarding interest rates in Türkiye and Colombia would be ineffective because interest rates tend to be mean-reverting.

Anahtar Kelimeler

Monetary policy, Interest rate hysteresis, Fourier

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

Makroekonomik Teori

Bölüm

Araştırma Makalesi

Yazarlar

Fındık Özlem Alper
0000-0002-7829-8551
Türkiye

Ali Eren Alper ^*
0000-0003-0008-1202
Türkiye

Yayımlanma Tarihi

10 Ekim 2024

Gönderilme Tarihi

4 Temmuz 2024

Kabul Tarihi

26 Eylül 2024

Yayımlandığı Sayı

Yıl 2024 Cilt: 17 Sayı: 4

DOI

https://doi.org/10.25287/ohuiibf.1510489

IZ

https://izlik.org/JA48ED74RU

APA

Alper, F. Ö., & Alper, A. E. (2024). STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 17(4), 944-957. https://doi.org/10.25287/ohuiibf.1510489

AMA

1.Alper FÖ, Alper AE. STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST. ÖHÜİİBFD. 2024;17(4):944-957. doi:10.25287/ohuiibf.1510489

Chicago

Alper, Fındık Özlem, ve Ali Eren Alper. 2024. “STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 17 (4): 944-57. https://doi.org/10.25287/ohuiibf.1510489.

EndNote

Alper FÖ, Alper AE (01 Ekim 2024) STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 17 4 944–957.

IEEE

[1]F. Ö. Alper ve A. E. Alper, “STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST”, ÖHÜİİBFD, c. 17, sy 4, ss. 944–957, Eki. 2024, doi: 10.25287/ohuiibf.1510489.

ISNAD

Alper, Fındık Özlem - Alper, Ali Eren. “STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 17/4 (01 Ekim 2024): 944-957. https://doi.org/10.25287/ohuiibf.1510489.

JAMA

1.Alper FÖ, Alper AE. STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST. ÖHÜİİBFD. 2024;17:944–957.

MLA

Alper, Fındık Özlem, ve Ali Eren Alper. “STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST”. Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 17, sy 4, Ekim 2024, ss. 944-57, doi:10.25287/ohuiibf.1510489.

Vancouver

1.Fındık Özlem Alper, Ali Eren Alper. STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST. ÖHÜİİBFD. 01 Ekim 2024;17(4):944-57. doi:10.25287/ohuiibf.1510489

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STATIONARITY OF LONG-TERM REAL INTEREST RATES: FINDINGS FROM NONLINEAR FOURIER UNIT ROOT TEST

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