Money, output and prices in Turkey

H. Sonmez Atesoglu, Donald H. Dutkowsky

Research output: Contribution to journalArticlepeer-review

4 Scopus citations


The determination of aggregate output and the price level in Turkey is examined. Empirical results indicate that the Turkish economy behaves consistent with predictions of a simple real business cycle model. Output follows an autoregressive structure with trend. Monetary policy is neutral and the results point to unitary elasticity between money and prices. The findings are generally robust to estimations in levels or first differences, and hold for either the narrow or broad money stock. The results suggest a modelling and policy strategy which may be relevant for other semi-industrialized countries.

Original languageEnglish (US)
Pages (from-to)38-41
Number of pages4
JournalApplied Economics Letters
Issue number2
StatePublished - Feb 1 1995

ASJC Scopus subject areas

  • Economics and Econometrics


Dive into the research topics of 'Money, output and prices in Turkey'. Together they form a unique fingerprint.

Cite this