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Görüntüleme (gezinme ile): 2 -- Görüntüleme (arama ile): -- IP: 18.191.228.88 -- Ziyaretçi Sayısı:
Özgün Başlık Frequency Domain Approach and Short Run and Long Run Causality Test : Evidence From Turkey for Interest Rate and Exchange Rate Relationship Yazarlar Recep Tarı, Tezcan Abasız Dergi Adı ODTÜ Gelişme Dergisi Cilt Aralık 2009, Cilt 36, Sayı 2, ss. 405-421 Anahtar Kelimeler Causality ; spectral analysis ; frequency domain ; exchange rate ; interest rate Özet Relationship between short term nominal interest rates and nominal exchange rates that the Central Bank in Turkey used as a means of monetary policy tool during the period of 1987 : 12008 : 1 was analysed by using frequency domain approach within the framework of spectral analysis. According to the findings, the causal relationship from the exchange rate to the interest rate was valid only for the short run, whereas this relationship was effective for totally 45 months before, during and after the crisis. The causal relationship was seen between the ω∈ (1.49, 1.94) frequencies However, in the long run this effect left its place to interest rates. |