You are here

Alternatif Para Politikası Stratejileri Üzerine Karşılaştırmalı Bir Değerlendirme

A Comparative Assessment on the Alternative Monetary Policy Strategies

Journal Name:

Publication Year:

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
The views put forward against discretionary policies and inflation costs resulted in the change of the precedence sequence of monetary policy targets. In recent years, price stability has been accepted the primary target of the monetary policy in many developed and developing countries. This development led to the ad¬vent of the alternative monetary policy strategies. Monetary targeting, exchange rate pegging and inflation targeting, are the basic monetary strategies. The country practices have shown that all of the so called strategies haven't been successful in reaching the desired targets at the same level. The aim of this paper is to compare the alternative monetary strategies in terms of the effectiveness of the policy ap¬plications.
Abstract (Original Language): 
İhtiyari politikaların aleyhine ileri sürülen görüşler ve enflasyon maliyetleri, para politikası hedeflerinin öncelik sıralamasının değişmesi sonucunu doğurmuştur. Son yıllarda birçok gelişmiş ve gelişmekte olan ülkede, f i y a t istikrarı, para politikası¬ nın birincil hedefi olarak kabul edilmeye başlanmıştır. Bu gelişme, alternatif para po¬ litikası stratejilerinin gündeme gelmesine yol açmıştır. Parasal hedefleme, döviz kuru hedeflemesi ve enflasyon hedeflemesi başlıca parasal s t r a t e j i l e r d i r . Ülke uygulama¬ ları açıkça göstermiştir ki, söz konusu stratejilerin hepsi istenilen hedefe ulaşmak a¬ çısından aynı düzeyde başarılı olamamıştır. Bu çalışmanın amacı, politika uygulamaları¬ nın etkililiği açısından alternatif parasal s t r a t e j i l e r i karşılaştırmaktır.
34
54

REFERENCES

References: 

Bernanke, Ben S. ve Frederic S. Mishkin (1997), "Inflation Targeting: A New Framework
for Monetary Policy?", Thie Journal of Economic Perspectives, 11, (2), 97-116. Bernanke, Ben S. vd. (1999), Inflation Targeting: Lessons from thie International Experience, Princeton Uni. Press. Bofinger, Peter (2001), Monetary Policy: Goals, Institutions, Strategies and Instruments, Oxford Uni. Press.
Brash, Donal T. (2002), "Inflation Targeting: New Zealand's Experience Over 14 Years",
Thie Northi American Journal of Economics and Finance, 13, 99-112. Calvo, Guillermo A. ve Carlos A. Vegh (1997), "Inflation Stabilization and BOP Crises in Developing Countries", 1-93. http://www.bsos.umd.edu/econ/ciecrp1.pdf
Alternatif Para Politikası Stratejileri Üzerine... 53
Calvo, Guillermo A. ve Carlos A. Vegh (1994), "Inflation Stabilization and Nominal Anchors",
Contemporary Economic Policy, 12, 35-45. Calvo, Guillermo A. ve Frederic S. Mishkin (2003), "The Mirage of Exchange Rate Regimes
for Emerging Market Countries", NBER Working Paper, No:9808, 1-42. Castro, Vitor and Francisco Jose Veiga (2004), "Political Business Cycles and Inflation
Stabilization", Economics Letters, 83, 1-6. Castro, Vitor and Francisco Jose Veiga (2002), "Political Business Cycles and Inflation
Stabilization", 1-33. http://www.eeg.uminho.pt/economia/nipe/fjveiga/ERBS_MBS.pdf Croce, Enzo ve Mohsin S. Khan (2000), "Monetary Regimes and Inflation Targeting", Fi¬nance & Development, 37, (3). Debelle, Guy (1997), "Inflation Targeting in Practice", IMF Working Paper, WP/97/35, 1¬34.
Dueker Michael ve Andreas M.Fischer (2001), "The Mechanics of A Successful Exchange-Rate Peg: Lesson From Emerging Markets", Studienzentrum Gerzensee, Stiftung Der Schiweizerischien National Bank Working Paper, No:01.02, 1-37. Fischer, Stanley (1996), "Maintaining Price Stability", Finance & Development, December,
34-37.
Freedman, Charles (2001), "Inflation Targeting and the Economy: Lessons from Canada's
Fırst
Decade"
, Contemporary Economic Policy, 19, (1), 2-19. Jonas, Jiri ve Frederic S. Mishkin (2003), "Inflation Targeting in Transition Countries: Ex¬perience and Prospects", NBER Working Paper, No:9667, 1-62. Kahn,George A. ve Klara Parrish (1998), "Conducting Monetary Policy With Inflation Tar¬gets", Economic Review, Federal Reserve Bank of Kansas City, 83, (3), 5-32. Kenen, Peter B. (2000), "Fixed Versus Floating Exchange Rates", Cato Journal, 20, (1), 109¬13.
Laubach, Thomas (1999) Signalling with Monetary and Inflation Targets", Center for Fi¬nancial Studies Working Paper, No:1999/05, 1-29. Leiderman Leonardo ve Lars E.O.Svensson (1995), "Introduction", Inflation Targets, Ed. By
leiderman ve Svensson, CEPR, 1-18. Miller, Roger LeRoy ve David D. VanHoose (1993), Modern Money and Banking, McGraw -
Hill, Inc.
Mishkin, Frederic S. (2000), "Inflation Targeting in Emerging - Market Countries", The
American Economic Review, 90, (2), 105-9. Mishkin, Frederic S. (1999), "International Experience with Different Monetary Policy Re¬gimes", Journal of Monetary Economics, 43, 579-605. Mishkin, Frederic S. (1997), "Strategies for Controlling Inflation", NBER Working Paper,
No:6122., 1997, 1-49.
Mishkin Frederic S. ve Miguel Savastano (2001), "Monetary Policy Strategies for Latin America", Journal of Development Economics, 66, 415-44.
54 Seyfettin Erdoğan
Mishkin Frederic S. ve Miguel Savastano (2002), "Monetary Policy Strategies for Emerging Market Countries: Lessons from Latin America", Comparative Economic Studies, XLIV,
(2), 45-82.
Obstfeld, Maurice ve Kenneth Rogoff (1995), "The Mirage of Fixed Exchange Rates", Thie
Journal of Economic Perspectives, 9, (4), 73-96. Oktar Suat, Enflasyon Hedeflemesi, İstanbul:Bilim-Teknik Yayınevi, 1998. Quispe- Agnoli, Myriam (2001), "Monetary Policy Alternatives for Latin America", Federal
Reserve Bank of Atlanta Economic Review, Third Quarter, 1-11. Rebelo, Sergio ve Carlos A. Vegh (1995), "Real Effects of Exchange Rate - Based Stabili¬zation: An Analysis of Competing Theories", NBER Working Paper, No:5197, 1-60. Rebelo, Sergio (1997), "What Happens When Countries Peg Their Exchange Rates? (The
Real Side of Monetary Reforms)", NBER Working Paper, No:6168, 1-39. Schmidt-Hebbel Klaus ve Matias Tapia (2002), "Inflation Targeting in Chile", The North
American Journal of Economics and Finance, 13, 125-46. Schmid, Peter (1999), "Monetary Targeting in Practice: The German Experience", Center
for Financial Studies Working Paper, No:1999/03, ss. Svensson, Lars E.O. (2002), "Inflation Targeting: Should It Be Modeled as An Instrument Rule or A Targeting Rule?" European Economic Review, 46, 771-80.

Thank you for copying data from http://www.arastirmax.com