Inflation Targeting for Turkey

Izzet Tasar, Tayfur Bayat
2015 Procedia Economics and Finance  
In this study, we analyze the behavior of inflation rate in Turkey by using monthly data belonging 2003:M01-2014:M08 period. We employ Markov Switching Auto regression (MSI-AR) approach in order to investigate whether the monetary authorities have asymmetric behaviors. Results imply that the Central Bank of the Republic of Turkey plays active or inactive role in the economy due to economic conditions.
doi:10.1016/s2212-5671(15)01533-6 fatcat:3to4wbbwmzfhhe76ufbmhbiofe