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Monetary policy rules in practice: Some international evidence

✍ Scribed by Richard Clarida; Jordi Galı́; Mark Gertler

Book ID
117098531
Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
327 KB
Volume
42
Category
Article
ISSN
0014-2921

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Monetary policy rules in practice: evidence from Turkey
✍ Hakan Berument; Hakan Taşçi 📂 Article 📅 2004 🏛 John Wiley and Sons 🌐 English ⚖ 82 KB

## Abstract This paper estimates a forward‐looking monetary policy reaction function of the Central Bank of the Republic of Turkey by considering the period from 1990:01 to 2000:10. When the spread between the interbank rate and depreciation rate of the local currency is taken as a policy tool, the