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BİR PARA TALEBİ EŞİTLİĞİNDE REEL GELİR VE FİYATLAR İÇİN BAĞDAŞIKLIĞIN SINANMASI: TÜRKİYE ÖRNEĞİ

TESTING HOMOGENEITY FOR REAL INCOME AND PRICES IN A MONEY DEMAND EQUATION: THE CASE OF TURKEY

Journal Name:

  • İstanbul Üniversitesi Maliye Araştırma Merkezi Konferansları Dergisi

Publication Year:

  • 2010

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
In this paper, money demand models using narrowly- and broadly-defined monetary aggregates have been tried to be constructed for the Turkish economy. Using some contemporaneous co-integration estimation techniques for the 1987-2007 period with quarterly data, our findings indicate that for the narrowly-defined monetary aggregates the unit real income elasticity assumption cannot be rejected, but no such a finding can be obtained for the unit price elasticity assumption. For the broadly-defined monetary aggregates the reverse is true, that is, the unit price elasticity assumption cannot be rejected, but we are unable to give support to the unit real income elasticity. Furthermore, we find that interest rate as an alternative cost to holding money is only statistically significant for the broad money demand equation.
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Abstract (Original Language): 
Bu çalışmada, dar ve geniş tanımlı parasal büyüklükleri kullanan para talebi modellerinin Türkiye ekonomisi için oluşturulmasına çalışılmıştır. Bazı çağdaş eş-bütünleşim tahmin yöntemlerinin 1987-2007 dönemi için üçer aylık verilerle kullanılması sonucu elde ettiğimiz bulgular dar-tanımlı parasal büyüklükler için birim reel gelir esnekliği varsayımının reddedilemeyeceğini, fakat böyle bir bulgunun birim fiyat esnekliği varsayımı için elde edilemediğini göstermektedir. Geniş-tanımlı parasal büyüklükler için bu durumun tersinin geçerli olduğu, yani birim fiyat esnekliği varsayımının reddedilemediği, fakat birim reel gelir esnekliğine destek verilemediği gözlenmiştir. Ayrıca, faiz oranı parasal büyüklük tutumuna almaşık bir maliyet şeklinde yalnızca istatistiksel olarak geniş para talebi eşitliği için anlamlı bulunmuştur.
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  • 1
59-76
  • English

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REFERENCES

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