Modelling the demand for narrow money in Turkey

Date

1994

Author

Metin, Kıvılcım

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The main aim of this work is to estimate the Turkish narrow demand for money equation for the period 1948:1-1987:4. When modelling the demand for money, both the long run relationship between economic variables and the short run dynamic adjustment equation - the error correction model- are considered. Using the estimated long-run relationship which depends on the theory of cointegration, economically meaningful structural hypotheses are tested. In addition, some empirical modelling issues, such as non-stationarity of the data, weak exogeneity of the related variables of the demand for money function and the parameter constancy of the short run dynamic model are particularly examined.

URI

https://hdl.handle.net/11511/108232

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Department of Economics, Article