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Budget deficits, monetary growth and inflation in Turkey : An empirical investigation
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062848.pdf
Date
1997
Author
Tekin, Ayça
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https://hdl.handle.net/11511/1288
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Graduate School of Social Sciences, Thesis
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The paper investigates the long-run relationships between budget deficits, inflation and monetary growth in Turkey considering two alternative trivariate systems corresponding to the narrowest and the broadest monetary aggregates. While the joint endogeneity of money and inflation rejects the validity of the monetarist view, lack of a direct relationship between inflation and budget deficits makes the pure fiscal theory explanations illegitimate for the Turkish case. Consistent with the policy regime of fin...
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A. Tekin, “Budget deficits, monetary growth and inflation in Turkey : An empirical investigation,” Middle East Technical University, 1997.