Yeni Keynesyen Makro Ekonomik Bir Model: Türkiye Uygulaması

Abstract

A new consensus in macroeconomics called the New Neo-Classical Synthesis or New Keynesian Macroeconomic Model (NKMM) emerged at the end of the 1990s. The fundamental feature of this consensus is that it is formed by the synthesis of ideas from the New Classical, Real Business Cycle, and New Keynesian Models. The NKMM consists of an inflation equation, an aggregate demand equation, and a monetary policy rule. In this paper, the full information maximum likelihood (FIML) method is used to estimate the NKMM and determine whether it is useful in explaining the fluctuations in the Turkish economy. The first implications show that the NKMM can be used to explain the fluctuations in the Turkish economy. Key Words:The new keynesian macroeconomic model, taylor rule, monetary policy, full information maximum likelihood method.