Multiple policy interest rates and economic performance in a multiple monetary-policy-tool environment
| dc.contributor.author | Varlık, Serdar | |
| dc.contributor.author | Berument, M. Hakan | |
| dc.date.accessioned | 2019-05-13T08:58:56Z | |
| dc.date.available | 2019-05-13T08:58:56Z | |
| dc.date.issued | 2017 | |
| dc.department | Hitit Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü | |
| dc.description.abstract | This paper assesses the individual effects on economic performance of different monetary policy interest rates for a central bank. To measure these effects, we employ an extension of existing Factor-Augmented Vector Autoregressive (FAVAR) models, such that the number of monetary policy variables can be captured with a few unobservable factors, as well as economic state variables with other unobservable factors. The empirical evidence from Turkey suggests that the four interest rates we consider as policy tools for the central bank affect economic state variables in different magnitudes. Thus, selecting different policy tools provides an environment that allows determining the effects of each tool for differentiated economic outcomes. © 2017 Elsevier Inc. | |
| dc.identifier.citation | Varlık, S., Berument, M. H. (2017). Multiple policy interest rates and economic performance in a multiple monetary-policy-tool environment. International Review of Economics & Finance, 52, 107-126. | |
| dc.identifier.doi | 10.1016/j.iref.2017.10.004 | |
| dc.identifier.endpage | 126 | en_US |
| dc.identifier.issn | 1059-0560 | |
| dc.identifier.scopusquality | Q1 | |
| dc.identifier.startpage | 107 | en_US |
| dc.identifier.uri | https://doi.org/10.1016/j.iref.2017.10.004 | |
| dc.identifier.uri | https://hdl.handle.net/11491/1226 | |
| dc.identifier.volume | 52 | en_US |
| dc.identifier.wosquality | N/A | |
| dc.indekslendigikaynak | Web of Science | |
| dc.indekslendigikaynak | Scopus | |
| dc.language.iso | en | |
| dc.publisher | Elsevier Inc. | |
| dc.relation.ispartof | International Review of Economics and Finance | |
| dc.relation.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | |
| dc.rights | info:eu-repo/semantics/closedAccess | |
| dc.subject | FAVAR | en_US |
| dc.subject | Monetary Policy | en_US |
| dc.subject | Multiple Monetary Policy Tools | en_US |
| dc.title | Multiple policy interest rates and economic performance in a multiple monetary-policy-tool environment | |
| dc.type | Article |
