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https://hdl.handle.net/11499/7712
Title: | A regional analysis of inflation dynamics in Turkey |
Authors: | Yeşilyurt, Filiz Elhorst, J.P. |
Keywords: | convergence dynamic analysis econometrics European Union inflation Keynesian theory regional economy Turkey |
Publisher: | Springer Verlag |
Abstract: | A hybrid new Keynesian Phillips curve is estimated with spatial interaction effects among the dependent and the independent variables using data of 67 provinces across Turkey over the period 1987-2001. In contrast to previous studies, backward-looking behavior appears to be more or equally important than forward looking behavior. Furthermore, when the impact of this behavior is split up into a direct effect on the own province and an indirect effect on neighboring provinces, which due to employing a spatial econometric approach is possible, we find significant evidence in favor of convergence. This is an important finding since it corroborates a process of regional integration of inflation rates across Turkey, which is a precondition in the accession process of Turkey to the European Union. © 2013 Springer-Verlag Berlin Heidelberg. |
URI: | https://hdl.handle.net/11499/7712 https://doi.org/10.1007/s00168-013-0570-4 |
ISSN: | 0570-1864 |
Appears in Collections: | İktisadi ve İdari Bilimler Fakültesi Koleksiyonu Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection |
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