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MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY

Şeref BOZOKLU

Fulltext: english, pdf (283 KB) pages 171-182 downloads: 721* cite
APA 6th Edition
BOZOKLU, Ş. (2013). MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY. Economic research - Ekonomska istraživanja, 26 (1), 171-182. Retrieved from https://hrcak.srce.hr/104015
MLA 8th Edition
BOZOKLU, Şeref. "MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY." Economic research - Ekonomska istraživanja, vol. 26, no. 1, 2013, pp. 171-182. https://hrcak.srce.hr/104015. Accessed 1 Nov. 2020.
Chicago 17th Edition
BOZOKLU, Şeref. "MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY." Economic research - Ekonomska istraživanja 26, no. 1 (2013): 171-182. https://hrcak.srce.hr/104015
Harvard
BOZOKLU, Ş. (2013). 'MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY', Economic research - Ekonomska istraživanja, 26(1), pp. 171-182. Available at: https://hrcak.srce.hr/104015 (Accessed 01 November 2020)
Vancouver
BOZOKLU Ş. MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY. Economic research - Ekonomska istraživanja [Internet]. 2013 [cited 2020 November 01];26(1):171-182. Available from: https://hrcak.srce.hr/104015
IEEE
Ş. BOZOKLU, "MONEY, INCOME, AND CAUSALITY: AN EXAMINATION FOR THE TURKISH ECONOMY", Economic research - Ekonomska istraživanja, vol.26, no. 1, pp. 171-182, 2013. [Online]. Available: https://hrcak.srce.hr/104015. [Accessed: 01 November 2020]

Abstracts
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.

Keywords
Money-income Causality; Monetary Endogeneity; MWALD test; Leveraged Bootstrap Simulation; Toda-Yamamoto

Hrčak ID: 104015

URI
https://hrcak.srce.hr/104015

[croatian]

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