Dissecting Turkish inflation: theory, fact, and illusion

The policy debate in Turkey over the impact of interest rate on inflation concerns the question of what policymakers should do when faced with volatile and high inflation. Motivated by this discussion, we provide an empirical analysis by connecting the cost channel to the Phillips relation. Our find...

Descripción completa

Detalles Bibliográficos
Autores principales: Kantur, Zeynep, Özcan, Gülserim
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer US 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8524228/
http://dx.doi.org/10.1007/s10644-021-09357-1
_version_ 1784585470663983104
author Kantur, Zeynep
Özcan, Gülserim
author_facet Kantur, Zeynep
Özcan, Gülserim
author_sort Kantur, Zeynep
collection PubMed
description The policy debate in Turkey over the impact of interest rate on inflation concerns the question of what policymakers should do when faced with volatile and high inflation. Motivated by this discussion, we provide an empirical analysis by connecting the cost channel to the Phillips relation. Our findings prove the existence of the cost channel. However, other determinants of inflation —labor share of income, prices of imported inputs, and consumption goods —dominate the cost channel in Turkey.
format Online
Article
Text
id pubmed-8524228
institution National Center for Biotechnology Information
language English
publishDate 2021
publisher Springer US
record_format MEDLINE/PubMed
spelling pubmed-85242282021-10-20 Dissecting Turkish inflation: theory, fact, and illusion Kantur, Zeynep Özcan, Gülserim Econ Change Restruct Article The policy debate in Turkey over the impact of interest rate on inflation concerns the question of what policymakers should do when faced with volatile and high inflation. Motivated by this discussion, we provide an empirical analysis by connecting the cost channel to the Phillips relation. Our findings prove the existence of the cost channel. However, other determinants of inflation —labor share of income, prices of imported inputs, and consumption goods —dominate the cost channel in Turkey. Springer US 2021-10-19 2022 /pmc/articles/PMC8524228/ http://dx.doi.org/10.1007/s10644-021-09357-1 Text en © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Kantur, Zeynep
Özcan, Gülserim
Dissecting Turkish inflation: theory, fact, and illusion
title Dissecting Turkish inflation: theory, fact, and illusion
title_full Dissecting Turkish inflation: theory, fact, and illusion
title_fullStr Dissecting Turkish inflation: theory, fact, and illusion
title_full_unstemmed Dissecting Turkish inflation: theory, fact, and illusion
title_short Dissecting Turkish inflation: theory, fact, and illusion
title_sort dissecting turkish inflation: theory, fact, and illusion
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8524228/
http://dx.doi.org/10.1007/s10644-021-09357-1
work_keys_str_mv AT kanturzeynep dissectingturkishinflationtheoryfactandillusion
AT ozcangulserim dissectingturkishinflationtheoryfactandillusion

Ejemplares similares