期刊名称：International Journal of Economics and Research
电子版ISSN：2229-6158
出版年度：2013
卷号：4
期号：6
页码：13-19
出版社：Sanben Agency
摘要：In this study, main determinants of inflation in Turkey over the period 2002-2012 are investigated by using Vector Error Correction (VEC) Model. Motivation of the study is to understand driving factors behind the inflation phenomenon during the inflation targeting period that was started to implement at the begining of 2002. The results presented in this paper indicate that output gap and interest rate are main determinants of inflation in Turkey. Because short term interest rate is the main tool of monetary authority in inflation targeting, nefative effect of interest rate on inflation is important. Positive effect of output gap emphasize demand-pull inflation in Turkish economy. Exchange rate and import prices have no statistically significant effect on inflation. It shows that exchange rate pass through effects has decreased in this period.
