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The relationship between output growth and inflation: Evidence from Turkey

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dc.contributor.author Omay, Tolga
dc.contributor.author Aluftekin, Nilay
dc.contributor.author Karadağlı, Ece C.
dc.date.accessioned 2023-02-09T06:42:17Z
dc.date.available 2023-02-09T06:42:17Z
dc.date.issued 2010-03
dc.identifier.citation Omay, Tolga; Aluftekin, Nilay; Karadağlı, Ece C. (2010). "The relationship between output growth and inflation: Evidence from Turkey", Journal of Applied Economic Sciences, Vol. 5, No. 1, pp. 55-63. tr_TR
dc.identifier.issn 1843-6110
dc.identifier.uri http://hdl.handle.net/20.500.12416/6153
dc.description.abstract In this study, a bi-variate Generalized Autoregressive Conditional Heteroscedasticty model is used in order to investigate the Granger causality relationships between output growth, inflation rate and their uncertainties. Our test results show that the existence of Granger-causality is observed from nominal uncertainty to inflation, from nominal uncertainty to real uncertainty, from output growth to real uncertainty, from output growth to nominal uncertainty and from inflation to nominal uncertainty. These findings prove that theoretical predictions of Cuikerman and Meltzer (1986), Okun (1971) and Friedman (1977) are valid for the period 1986, 6 - 2007, 1 for Turkey. On the other hand, 'Short-run Phillips Curve' and 'Taylor Effect' have proven empirically to be invalid for Turkey for this sample period. Moreover, we deduce that Turkish inflation is affected by the output growth through the nominal uncertainty channel. tr_TR
dc.language.iso eng tr_TR
dc.rights info:eu-repo/semantics/closedAccess tr_TR
dc.subject Bi-Variate GARCH tr_TR
dc.subject Granger-Causality tr_TR
dc.subject Inflation tr_TR
dc.subject Output Growth tr_TR
dc.subject Uncertainty tr_TR
dc.title The relationship between output growth and inflation: Evidence from Turkey tr_TR
dc.type article tr_TR
dc.relation.journal Journal of Applied Economic Sciences tr_TR
dc.identifier.volume 5 tr_TR
dc.identifier.issue 1 tr_TR
dc.identifier.startpage 55 tr_TR
dc.identifier.endpage 63 tr_TR
dc.contributor.department Çankaya Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Uluslararası Ticaret Bölümü tr_TR


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