Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/83256 
Authors: 
Year of Publication: 
2006
Series/Report no.: 
Discussion Paper No. 2006/2
Publisher: 
Turkish Economic Association, Ankara
Abstract: 
In this paper, we investigate whether the money multiplier process has a stable or forecastable characteristics in Turkish economy. Our estimation results point out that the processes leading to the money supply definitions over the base money indicates an unstable characteristics also decreasing the effectiveness of monetary policies applied by monetary authority. Besides, the sub-components of money multipliers give no support to a stable money multiplier process, thus do not support the Monetarist explanations in conduct of the monetary policy.
Subjects: 
Money Multipliers
Turkish Economy
Instability
Document Type: 
Working Paper

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