Asymmetric Relationship Between Consumer Loans and Money Velocity: An Application On Turkey
Journal Title: Journal of the Human and Social Science Researches - Year 2016, Vol 5, Issue 7
Abstract
The relationship between amount of money in the economy and volume of economic activity is evaluated through money velocity. Money velocity is a parameter that determines the effectiveness of monetary and fiscal policies to be implemented. In addition, loans are key indicators of financial stability for CBRT. The aim of the study is to test the effect of the consumer credits on money velocity. The so-called impact is tested via nonlinear autoregressive distributed lag model (NARDL) developed by Shin at al. (2014) for the period of 1993Q3-2016Q1. The effects of positive and negative consumer loans shocks on velocity are analyzed within the framework “Asymmetric Dynamic Multiplier Approach”. According to the results, an increase in consumer loans reduces the velocity of money at a lower rate than itself. However, a decline in consumer loans leads to a higher increase than itself on the money velocity.
Authors and Affiliations
Fatih CEYLAN| Ar. Gör, Dokuz Eylül Üniversitesi, İİBF, İktisat Bölümü fatih.ceylan@deu.edu.tr, Osman TÜZÜN| Ar. Gör, Dokuz Eylül Üniversitesi, İİBF, İktisat Bölümü osman.tuzun@deu.edu.tr, Ramazan EKİNCİ| Ar. Gör, Dokuz Eylül Üniversitesi, İİBF, İktisat Bölümü ramazan.ekinci@deu.edu.tr, Hakan KAHYAOĞLU| Doç. Dr., Dokuz Eylül Üniversitesi, İİBF, İktisat Bölümü hakan.kahyaoglu@deu.edu.tr
Keywords
Related Articles
- EP ID EP2730
- DOI -
- Views 351
- Downloads 32
An Example to Ottoman Woman Magazınes: Mürüvvet
Tanzimat period was a period of restructuring of Ottoman Empire. The impact of these changes and transformation which indicating in many areas has been reflected in the Ottoman Press in various degrees. In this context,...
EVALUATION OF THE WESTERNIST MOVEMENT’S OPINIONS ABOUT MORALITY IN II. MEġRUTĠYET PERIOD
It will be evaluated throughout that article westernist movement‟s opinions about morality and moral education that was one of the accepted systematically and regular way of thought during II. Mesrutiyet. For that purpos...
The Life and Schools of Hillel and Shammai, the Founders of Rabbinic Judaism
The Temple has been the most basic element of Judaism for centuries. But after the destruction of the Second Temple at A.D. 70 by Titus, Temple-oriented religious approaches and practices have ceased to exist, and Tanah...
THE PROBLEM OF THE FUNCTION AND THE FUTURE OF RELIGION IN RICHARD RORTY’S PRAGMATICS LIBERAL UTOPIA
Probably, Richard Rorty was one of the philosophers who the most talked about him in many areas of philosophy from the ontology to epistemology, from the political philosophy to philosophy of language in the past century...
A Musıc Instrument in Seljuk Ceramics
Ceramic ornaments and other ceramic works are important for cultural history. These works have considerable importancein terms of many disciplines. Ceramics are very valuable resources for historical musicology used the...