Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5087540 | Journal of Asian Economics | 2012 | 10 Pages |
Abstract
⺠We examine the relationship between interest rates and the expected inflation under the inflation-targeting regime. ⺠We found that monetary policy rates depend on inflationary expectations; long-term interest is affected by monetary policy. ⺠This evidence implies that monetary policy has actually influenced the real long-term interest rates. ⺠The inflation targeting pursued by the Central Bank of Turkey is reliable. Thus, realized inflation has remained close to its targeted level.
Related Topics
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Economics and Econometrics
Authors
Nezir Kose, Furkan Emirmahmutoglu, Sezgin Aksoy,