Policy regime change and structural break in the velocity of money:: the Turkish evidence

被引：4

作者：

Çakan, E

Özmen, E ^{[1
]}

机构：

[1] Middle E Tech Univ, Dept Econ, TR-06531 Ankara, Turkey

[2] Gazi Univ, Dept Econometr, Ankara, Turkey

来源：

APPLIED ECONOMICS LETTERS | 2002年 / 9卷 / 11期

关键词：

D O I：

10.1080/13504850210128794

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The integration properties of Turkish velocity series are investigated by employing recently developed procedures (Zivot and Andrews (1992) and Perron (Journal of Econometrics, 80, 355-85, 1997)) which allows stationarity around an endogenously estimated structural break point under the alternative hypothesis. The evidence suggests that real currency balances and currency velocity are stationary around a broken trend. The estimated break point coincides with a major policy regime change in Turkey. Broad money velocity and real broad money balances are found to be nonstationary even after allowance for a broken mean and trend.

引用

页码：759 / 762

页数：4

共 11 条

[1]

[Anonymous], 1976, Carnegie-Rochester Conference Series on Public Policy

[2] THE LONG-RUN BEHAVIOR OF VELOCITY - THE INSTITUTIONAL APPROACH REVISITED [J].