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Enflasyonun Türkiye için Refah Maliyeti

The Welfare Cost of Inflation in Turkey

Journal Name:

  • Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi

Publication Year:

  • 2017

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
This paper follows Bailey (1956) and estimates the welfare cost of inflation in Turkey by using annual data for the period 1970-2013. In this study, two functional form of money demand specifications are estimated: Meltzer’s (1963) log-log specification, and (2) Cagan’s (1956) semi-log specification. Based on the results of the two competing specifications, it is decided to rely more on the welfare cost measure obtained under the log-log money demand specification. Estimation results suggest that welfare cost generated by an increase in inflation from 0 to 10 percent ranges between 0.52 and 0.54 percent of GDP using M1 as the measure of money.
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Abstract (Original Language): 
Bu çalışma, 1970-2013 yılları arasındaki veri setini kullanarak enflasyonun Türkiye için refah maliyetini Bailey’dan (1956) yola çıkarak tahmin etmektedir. Bu çalışmada, iki ceşit para talebi fonksiyonu tahmin edilecektir. Bunlardan ilki Meltzer’in (1963) log-log para talebi fonksiyonu, diğeri ise Cagan’ ın (1956) yarı-logaritmik para talebi fonksiyonudur. Analiz sonuçları, enflasyonun log-log para talebi versiyonuna dayanan refah maliyeti tahmininin Türkiye için daha uygun olduğunu göstermiştir. Enflasyonun yüzde 0’dan yüzde 10’a yükselmesi sonucu, M1 para arzı kullanılarak tahmin edilen refah maliyetinin GSYİH’nın yüzde 0.52’si ve 0.54’ü arasında olduğu güzlemlenmiştir.
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REFERENCES

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