Money, Income, and Causality
An Examination for the Turkish Economy
Bibliographic Data
| ID | 15067328 |
|---|---|
| Authors | Seref Bozoklu (0000-0002-9186-866X, Istanbul University, corresponding author) |
| Year | 2013 |
| Volume | 26 |
| Issue | 1 |
| Pages | 171-182 |
| Publication date | 2013-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2013.11517596 |
| OpenAlex | W85117353 |
| Language | EN |
| References cited | 14 |
This paper examines the direction of causality between money and income for the Turkish economy using quarterly data over the period of 1987 to 2011. A vector autoregression model consisting of the real gross domestic product, the broad money supply, the three months deposit rate as short-term interest rate, and the consumer price index is constructed to implement causality tests. Also, a leveraged bootstrapped simulation technique is used when conducting causality tests in order to make the results more robust. The empirical results suggest a bidirectional causation between the two variables and that monetary aggregates may provide relevant information in the implementation of monetary policy
Causation · Econometrics · Economics · Granger causality · Gross domestic product · Interest rate · Macroeconomics · Monetary economics · Monetary policy · Money supply · Turkish · Turkish economy · Vector autoregression · Computer Science · Economic Theory and Policy · Market Dynamics and Volatility · Monetary Policy and Economic Impact
LAG Length Selection and the Construction of Unit Root Tests with Good Size and Power
Statistical inference in vector autoregressions with possibly integrated processes
An Omnibus Test for Univariate and Multivariate Normality
Time to Build and Aggregate Fluctuations
Time Series Regression with a Unit Root
Expectations and the neutrality of money
Testing for a unit root in time series regression
Money supply behaviour in emerging economies
Real Business Cycles
"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule
Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule
Aggregate Dynamics and Staggered Contracts
An Equilibrium Model of the Business Cycle
A Program for Monetary Stability
| Highly cited | No |
|---|