How does the monetary transmission mechanism work? Evidence from Turkey
This paper reveals how monetary transmission works in Turkey under an explicit inflation-targeting regime implemented since the beginning of 2006. We build various vector autoregression (VAR) models and show that the central bank's main policy tool, interest rates, and the nominal exchange rate...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2020-12-01
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| Series: | Borsa Istanbul Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2214845020300302 |