Nominal stylized facts of Turkish business cycles

Date

1998

Author

Alper, C. Emre

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This paper investigates the basic nominal stylized facts of business cycles in Turkey using monthly data from 1978:1 to 1997:7 and the methodology suggested by Kydland and Prescott (1990). In particular, correlations of the cyclical part of the data are found using two different filtering techniques, namely the Hodrick-Prescott filter and the twelve-month percentage change.Next the robustness of the results across these two techniques is evaluated. No clear-cut pattern emerges for the various measures of money. Price, inflation and interest rate series are all countercyclical giving support to a supply-driven model for the Turkish economy.

URI

http://www2.feas.metu.edu.tr/metusd/ojs/index.php/metusd
https://hdl.handle.net/11511/108362

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Department of Economics, Article