Inflation, output growth, and stabilization in Turkey, 1980–2002

Dibooğlu, Sel; Kibritçioğlu, Aykut

doi:10.1016/j.jeconbus.2003.04.001

Cited by 31 publications

(11 citation statements)

References 10 publications

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“…1 Historically, the Turkish economy has been plagued by high and persistent inflation. Diboğlu and Kibritçioğlu (2004) argue that one of the reasons for inflation in Turkey is increases in the prices of major imported inputs. In addition, economic growth was not accompanied by a stable macroeconomic environment, particularly in the period from 1980 to 2000, and the implemented stabilization policies could not succeed.…”

Section: Introductionmentioning

confidence: 99%

Pass-through of oil prices to domestic prices: Evidence from an oil-hungry but oil-poor emerging market

Dedeoğlu¹,

Kaya²

2014

Economic Modelling

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Section: Introductionmentioning

confidence: 99%

Pass-through of oil prices to domestic prices: Evidence from an oil-hungry but oil-poor emerging market

Dedeoğlu¹,

Kaya²

2014

Economic Modelling

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“…Turkey had experienced persistent inflation during the 1990s, as discussed in Dibooglu and Kibritcioglu (2004) and Kibritçioğlu (2001). After the economic crisis of February 2001, a variety of inflation targeting policies have been adopted and a sharp decline has been experienced, as discussed in Çiçek and Akar (2013).…”

Section: Descriptive Statistics On Budget Shares Price and Consumer mentioning

confidence: 99%

Economic crisis and consumption: an almost ideal demand system estimation for Turkey with time-varying parameters

Türkmen-Ceylan

2019

Development Studies Research

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This paper proposes an alternative approach for analyzing the impacts of economic crises on consumption demand patterns in the absence of household consumption or price data. To do so, an Almost Ideal Demand System (AIDS) which incorporates time dummies corresponding to the periods of economic crises is estimated by using Turkish household final consumption data derived from national accounts. All findings are plausible and coherent with the theoretical framework and show that the crises significantly affect consumption demand patterns in Turkey. The study also reveals tax cuts of 2009 were designed on the basis of economic efficiency, although they were shown to be regressive by Albayrak ([2011.

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“…The annual consumer inflation rate declined to under 10% in 2004. As Akyazı and Ekinci (2009) stated, the year 2004 is an important break year in terms of inflation persistency, expectations and credibility in Turkey (for more information on inflation policies in Turkey see, Kara, 2008;Özatay, 2005;Dibooglu and Kibritcioglu, 2004).…”

Section: Uluslararası İktisadi Ve İdari İncelemeler Dergisimentioning

confidence: 99%

Inflation and Inflation Uncertainty in Turkey: Evidence From Egarch Modeling

Ekinci¹,

Genç

2018

Uluslararası İktisadi Ve İdari İncelemeler Dergisi

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A b s t r a c tInflation leads to significant welfare losses to society, even if it is predictable. Inflation uncertainty also has welfare costs via distorted relative prices and resource allocation. Turkish economy experienced high and highly volatile inflation since 1970s. This study investigates the relationship between inflation and inflation uncertainty employing the AR-EGARCH-M model using monthly Turkish inflation data between January 1968 to December 2017. The empirical results suggest that higher inflation rates increased inflation uncertainty in Turkey, providing strong support for the Friedman-Ball hypothesis. However, the response of inflation uncertainty to inflation is negative but not statistically significant. Lastly, the asymmetric effect has been found to be statistically significant, which implies that a positive shock increases inflation uncertainty less than a negative shock.Enflasyon öngörülebilir olduğunda dahi önemli refah kayıplarına yol açmaktadır. Enflasyon belirsizliği de bozulan nisbi fiyatlar ve kaynak dağılımı nedeniyle refah maliyetlerine sahiptir. Türkiye ekonomisi 1970'lerden itibaren yüksek ve oldukça değişken bir enflasyon tecrübesine sahiptir. Çalışma, enflasyon ve enflasyon belirsizliği arasındaki ilişkiyi Ocak 1968 -Aralık 2017 döneminde aylık Türkiye enflasyon verisi için AR-EGARCH-M modelini kullanarak incelemektedir. Ampirik sonuçlar, daha yüksek enflasyon oranının enflasyon belirsizliğini artırdığını göstererek, Friedman-Ball hipotezini desteklemektedir. Bununla birlikte enflasyon belirsizliğinin enflasyona etkisi negatif fakat istatistiksel olarak anlamsız bulunmuştur. Son olarak, asimetrik etkinin istatistiksel olarak anlamlı bulunması, pozitif şokların enflasyon belirsizliğini negatif şoklara göre daha fazla artırdığını göstermektedir.

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Inflation, output growth, and stabilization in Turkey, 1980–2002

Cited by 31 publications

References 10 publications

Pass-through of oil prices to domestic prices: Evidence from an oil-hungry but oil-poor emerging market

Pass-through of oil prices to domestic prices: Evidence from an oil-hungry but oil-poor emerging market

Economic crisis and consumption: an almost ideal demand system estimation for Turkey with time-varying parameters

Inflation and Inflation Uncertainty in Turkey: Evidence From Egarch Modeling

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