EconPapers: Turkish Inflation Dynamics: New Keynesian Phillips Curve (2000-2013)

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"> <html> <head> <meta name="MS.LOCALE" content="EN"> <meta http-equiv="Content-Type" content="text/html; charset=UTF-8"> <META http-equiv="Content-Script-Type" content="text/javascript"> <LINK REL="SHORTCUT ICON" HREF="/favicon.ico"> <link rel="search" type="application/opensearchdescription+xml" title="EconPapers" href="/EP_searchplug.xml"> <link rel="search" type="application/opensearchdescription+xml" title="EconPapers: Author" href="/EPauth_searchplug.xml"> <link rel="search" type="application/opensearchdescription+xml" title="EconPapers: Title" href="/EPtitle_searchplug.xml"> <script language="javascript" type="text/javascript" src="/ep.js"> </script> <link rel="stylesheet" type="text/css" href="/EconPapers.css"> <title>EconPapers: Turkish Inflation Dynamics: New Keynesian Phillips Curve (2000-2013)</title>  <LINK REL='SCHEMA.dc' HREF='http://purl.org/dc/elements/1.1/'> <META NAME="dc.Title" CONTENT="Turkish Inflation Dynamics: New Keynesian Phillips Curve (2000-2013)"> <META NAME="dc.Creator" CONTENT="Ba艧tav, Leyla"> <meta name="dc.Subject" content="Turkey, Macroeconometric modeling, Monetary issues"> <meta name="dc.Publisher" content="EcoMod"> <meta name="dc.Type" content="text"> <meta name="dc.Type" scheme="DCT2" content="techreport"> <meta name='dc.Date' content='2014-07-03'> <meta name="redif-type" content="paper"> <meta name="wp-number" content="6955"> <meta name='handle' content='RePEc:ekd:006356:6955'> <meta name='EPDATE' content="2014-08-21"> <meta name='description' content="By Leyla Ba艧tav; Abstract: This study aims to analyse Turkish economy for the 2000-2012 term with emphasis on inflation dynamics within the"> <meta name="series" content="EcoMod2014"> <meta name="citation_authors" content="Ba艧tav, Leyla"> <meta name="citation_author" content="Ba艧tav, Leyla"> <meta name="citation_title" content="Turkish Inflation Dynamics: New Keynesian Phillips Curve (2000-2013)"> <meta name="citation_date" content="2014/07/03"> <meta name="citation_year" content="2014"> <meta name="citation_publication_date" content="2014/07/03"> <meta name="citation_technical_report_institution" content="EcoMod"> <meta name="citation_technical_report_number" content="6955"> <meta name="citation_keywords" content="Turkey; Macroeconometric modeling; Monetary issues"> <meta name="citation_abstract" content="This study aims to analyse Turkish economy for the 2000-2012 term with emphasis on inflation dynamics within the framework of New Keynesian Phillips Curve (NKPC). The aim is to capture whether the inflation dynamics is explained by output gap and/or growth of output explanatory variables or alternatively by level or the rate of change of employment (and unemployment). Price equations are estimated in the form of New Keynesian Phillips Curve (NKPC) by GMM methodology following unit root tests. There is hysteresis effect in price dynamics and past levels of output effect current inflation. There is hardly any supporting pattern for employment/unemployment level or rate of change variables upto second order lags having any explanatory power for the price inflation dynamics of Turkey. However the study will be extended by new explanatory variables (like marginal cost index, different expected inflation proxy variables etc)."> <meta name="citation_abstract_html_url" content="https://EconPapers.repec.org/RePEc:ekd:006356:6955"> <link rel='canonical' href='https://EconPapers.repec.org/RePEc:ekd:006356:6955'>  </head> <body background="/bg.gif"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td rowspan="5" bgcolor="#008241" width="4"> </td> <td bgcolor="#008241" colspan="3" width='251'><img border="0" src="/logo_econpapers.gif" width="251" height="37" alt="EconPapers"></td> <td bgcolor="#008241" width='100%'> </td> <td rowspan="5" bgcolor="#008241" width="4"> </td> </tr> <tr> <td bgcolor="#008241" colspan="3" width='251'><img border="0" src="/logo2_econpapers.gif" width="251" height="16" alt="Economics at your fingertips"></td> <td bgcolor="#008241"> </td> </tr> <tr> <td valign='top'><div class='sidebar'> <p><a href="/">EconPapers Home</a> <br><a href="/about.htm">About EconPapers</a> <p><a href="/paper/">Working Papers</a> <br><a href="/article/">Journal Articles</a> <br><a href="/bookchap/">Books and Chapters</a> <br><a href="/software/">Software Components</a> <p><a href="/RAS/">Authors</a> <p><a href="/scripts/jelsearch.pf">JEL codes</a> <br><a href='/scripts/nep.pf'>New Economics Papers</a>  <p style='margin-bottom: 0.5em'><a href="/scripts/search.pf">Advanced Search</a></p> <form action="/scripts/search.pf" method="GET" name="search" accept-charset="UTF-8"> <div align="left"> <input type="text" name="ft" class='quicksearch' size='10'><br> <input type=submit value="Quick Search" class="button"> </div> </form> <p><a href="/FAQ.htm">EconPapers FAQ</a> <br><span class='smaller'><a href='/archiveFAQ.htm'>Archive maintainers FAQ</a> <br><a href="/FAQ.htm#Cookies">Cookies at EconPapers</a> </span> <p><a href='/scripts/a/abstract.pf?p=y;h=RePEc:ekd:006356:6955'>Format for printing</a> <p><a href='https://blog.repec.org/'>The RePEc blog</a> <br><span class="smaller"><a href="https://plagiarism.repec.org/">The RePEc plagiarism page</a></span> </div> </td> <td rowspan="2" bgcolor="#008241" width="4">   </td> <td rowspan="2" colspan="2" width="100%" valign=top bgcolor="#FFFFFF"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td rowspan='1' valign='top' width='85%'><div class='bodytext'>  <div id='processing' class='itemref' onClick='clear_wait()'><img width='0' height='0' align=middle src='/EPwait.gif'></div><div id='greyedout' class='itemshadow' onClick='clear_wait()'></div> <h1 class="colored">Turkish Inflation Dynamics: New Keynesian Phillips Curve (2000-2013)</h1> <p><i>Leyla Ba艧tav</i> <p>No 6955, <a href='/paper/ekd006356/'>EcoMod2014</a> from <a href="http://www.ecomod.net">EcoMod</a> <p><b>Abstract:</b> This study aims to analyse Turkish economy for the 2000-2012 term with emphasis on inflation dynamics within the framework of New Keynesian Phillips Curve (NKPC). The aim is to capture whether the inflation dynamics is explained by output gap and/or growth of output explanatory variables or alternatively by level or the rate of change of employment (and unemployment). Price equations are estimated in the form of New Keynesian Phillips Curve (NKPC) by GMM methodology following unit root tests. There is hysteresis effect in price dynamics and past levels of output effect current inflation. There is hardly any supporting pattern for employment/unemployment level or rate of change variables upto second order lags having any explanatory power for the price inflation dynamics of Turkey. However the study will be extended by new explanatory variables (like marginal cost index, different expected inflation proxy variables etc). <p><b>Keywords:</b> <a href="/scripts/search.pf?kw=Turkey">Turkey</a>; <a href="/scripts/search.pf?kw=Macroeconometric modeling">Macroeconometric modeling</a>; <a href="/scripts/search.pf?kw=Monetary issues">Monetary issues</a> (search for similar items in EconPapers)<br> <b>Date:</b> 2014-07-03<br> <b>New Economics Papers:</b> this item is included in <a href='/scripts/search.pf?neplist=nepara2014-09-05'>nep-ara</a>, <a href='/scripts/search.pf?neplist=nepcwa2014-09-05'>nep-cwa</a> and <a href='/scripts/search.pf?neplist=nepmac2014-09-05'>nep-mac</a><br> <b>References:</b> <a href='http://citec.repec.org/cgi-bin/ui.pl?h=repec:ekd:006356:6955'>Add references at CitEc</a> <br><b>Citations:</b> <a href='http://citec.repec.org/cgi-bin/rss.pl?h=repec:ekd:006356:6955'>Track citations by RSS feed</a> <p><b>Downloads:</b> (external link)<br><a href="/scripts/redir.pf?u=http%3A%2F%2Fecomod.net%2Fsystem%2Ffiles%2FTurkPCmci2.doc;h=repec:ekd:006356:6955">http://ecomod.net/system/files/TurkPCmci2.doc</a> <p><b>Related works:</b><br>This item may be available elsewhere in EconPapers: <a href='/scripts/search.pf?adv=true;wp=on;art=on;soft=on;mh=100;ph=10;sort=rank;kwp=true;kw=Turkish+Inflation+Dynamics:+New+Keynesian+Phillips+Curve+(2000-2013)'>Search</a> for items with the same title. <p><b>Export reference:</b> <span class="fakelink" onClick="return item_as_reference('bibtex')">BibTeX</span> <span class=fakelink onClick="return item_as_reference('ris')">RIS</span> (EndNote, ProCite, RefMan) <span class=fakelink onClick="return item_as_reference('html')">HTML/Text</span> <div id='itemref' class='itemref'></div><div id='itemshadow' class='itemshadow'></div> <p><b>Persistent link:</b> <a href='/RePEc:ekd:006356:6955'>https://EconPapers.repec.org/RePEc:ekd:006356:6955</a> <p><a href='https://logec.repec.org/scripts/paperstat.pf?h=repec:ekd:006356:6955'>Access Statistics</a> for this paper <p><a href='/paper/ekd006356/'>More papers</a> in EcoMod2014 from <a href="http://www.ecomod.net">EcoMod</a><span class='smaller'> Contact information at <a href='https://edirc.repec.org/data/ecomoea.html'>EDIRC</a>.</span><span class='smaller'><br>Bibliographic data for series maintained by Theresa Leary (<script language='JavaScript' type='text/javascript'>Obfuscate( 'ecomod.net', 'theresa.leary' )</script>).</span> </div></td><td rowspan='1' valign='top' width='15%'><div class='bodytext'>   <script type="text/javascript">var addthis_config = {"data_track_clickback":true}; var addthis_share = { url: "https://EconPapers.repec.org/RePEc:ekd:006356:6955"}</script> <div class="addthis_toolbox addthis_default_style"> <a href="https://www.addthis.com/bookmark.php?v=250&username=econpapers" class="addthis_button_compact">Share</a> </div> <script type="text/javascript" src="https://s7.addthis.com/js/250/addthis_widget.js#username=econpapers"></script>  </div></td> </tr> </table> </td> </tr> <tr> <td valign='bottom'><div class='sidebar'> <p class="smaller"><div align="center"><img src="/repec3.gif" alt="RePEc" width='127' height='29'></div> <div class="smaller">This site is part of <a href="http://repec.org/">RePEc</a> and all the data displayed here is part of the RePEc data set.</div> <p class="smaller">Is your work missing from RePEc? 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EconPapers: Turkish Inflation Dynamics: New Keynesian Phillips Curve (2000-2013)