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Journal of Applied Sciences
  Year: 2009 | Volume: 9 | Issue: 12 | Page No.: 2238-2246
DOI: 10.3923/jas.2009.2238.2246
 
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The Choice of Monetary Policy Tool(s) and Relative Price Variability: Evidence from Turkey

M.H. Berument, A. Sahin and B. Saracoglu

Abstract:
The aim of this study is to assess any regularity relative price dispersion for the effect of monetary policy tool selection. Central banks use tools such as interbank rate and exchange rate when pursuing their (monetary) policies. The selected tools affect economic variables differently. By using Turkish monthly data for the 1988:2-2008:2 period, this study suggests that pure policies (such as interbank rate only or exchange rate only) increase relative price variability more than mixed policies, where the monetary authorities use the above tools simultaneously.
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How to cite this article:

M.H. Berument, A. Sahin and B. Saracoglu, 2009. The Choice of Monetary Policy Tool(s) and Relative Price Variability: Evidence from Turkey. Journal of Applied Sciences, 9: 2238-2246.

DOI: 10.3923/jas.2009.2238.2246

URL: https://scialert.net/abstract/?doi=jas.2009.2238.2246

COMMENTS
16 February, 2011
Alfred Book:
Very interesting and essential paper for the economic literature.
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