Globalization and flattening of Phillips Curve in Turkey between 1987 and 2007
Economic Modelling, cilt.29, sa.5, ss.1655-1661, 2012 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 29 Sayı: 5
- Basım Tarihi: 2012
- Doi Numarası: 10.1016/j.econmod.2011.12.019
- Dergi Adı: Economic Modelling
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.1655-1661
- Anahtar Kelimeler: Globalization, Monetary policy, Phillips Curve, Turkish economy
- Maltepe Üniversitesi Adresli: Evet
Özet
In the last two decades, there have been important changes in inflation dynamics in Turkey. While average inflation rate, inflation volatility and inflation persistence declined, the prices of tradable goods have shown an increase less than prices of non-tradable goods. The aim of this paper is to inquire whether the globalization has an effect on this change and to test whether and how it affected the slope of the Phillips Curve. The findings point out that global activity did have an effect on domestic inflation rate and that Phillips Curve got flatter. © 2012 Elsevier B.V.