SavedAdd your journal

Journals / Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi / 2017 / Cilt: 5 - Sayı: 4

Asymmetric Exchange Rate Pass-Through: The Case of Turkey

Asimetrik Döviz Kuru Geçişkenliği: Türkiye Örneği

Ümit GÜMRAH
Fatih KONUR
Pages
81–90
Publication Date
2017-10-01
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the findings obtained in the study; changes in exchange rates in Turkey are reflected in the prices of imported goods, but pass-through does not show an asymmetrical relationship.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The effect of changes in exchange rates on the prices of imported goods is expressed as the exchange rate pass-through.
📊
Key Findings & Data:Exchange rate fluctuations are an important factor affecting many macroeconomic variables, such as inflation.
💡
Conclusion & Impact:According to the findings obtained in the study; changes in exchange rates in Turkey are reflected in the prices of imported goods, but pass-through does not show an asymmetrical relationship.
🔬Design:Modeling & Simulation
📍Scope:2002 Verileri
⚙️Variables:Döviz Kuru Geçişkenliği · Asimetri · Vektör Hata Düzeltme

Abstract

The effect of changes in exchange rates on the prices of imported goods is expressed as the exchange rate pass-through. Exchange rate fluctuations are an important factor affecting many macroeconomic variables, such as inflation. In this study, exchange rate pass-through to import prices in Turkey was investigated using cointegration and vector error correction models for the period 2002 January to 2016 February. According to the findings obtained in the study; changes in exchange rates in Turkey are reflected in the prices of imported goods, but pass-through does not show an asymmetrical relationship.

Özet

Döviz kurlarında meydana gelen değişimlerin ithal edilen malların fiyatlarına etkisi döviz kuru geçişkenliği olarak ifade edilmektedir. Döviz kuru dalgalanmaları enflasyon başta olmak üzere birçok makroekonomik değişkeni etkileyen önemli bir faktördür. Bu çalışmada, Türkiye’de ithalat fiyatlarına döviz kuru geçişkenliği 2002 Ocak ile 2016 Şubat dönemi için eşbütünleşme ve vektör hata düzeltme modelleri kullanılarak araştırılmıştır. Çalışmada elde edilen bulgulara göre; Türkiye’de döviz kurlarındaki değişimler ithal mallarının fiyatlarına yansımakta ancak geçişkenlik asimetrik bir ilişki göstermemektedir.

🔖

Cite This Article

GÜMRAH, Ü., KONUR, F. (2017). Asymmetric Exchange Rate Pass-Through: The Case of Turkey. Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi, Cilt: 5 - Sayı: 4, 81–90. https://ajindex.com/articles/173661

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (10)

  1. Al-Abri, A. S., Goodwin, B. K., (2009). “Re-examining the exchange rate pass-through into import prices using nonlinear estimation techniques: threshold cointegration”, International Review of Economics and Finance, 18, pp. 142–61.
  2. Aron, J., Farrell, G., Muellbauer, J., Sinclair, P., (2014). “Exchange Rate Pass-through to Import Prices, and Monetary Policy in South Africa”, The Journal of Development Studies, 50:1, pp. 144-164.
  3. Azgün, S. (2013). “Türkiye’de Döviz Kuru Hareketlerinin İç Fiyatlara (İthalat Fiyatları, ÜFE ve TÜFE) Geçişi”, Sosyoekonomi, 20 (20), ss.93-106.
  4. Bacchetta, P., van Wincoop, E., (2005). “A Theory of the Currency Denomination Of International Trade”, Journal of International Economics, 67 (2), pp. 295-319
  5. Bayat, T., Özcan, B., Taş, Ş., (2015), “Türkiye’de Döviz Kuru Geçiş Etkisinin Asimetrik Nedensellik Testleri ile Analizi”, Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Cilt 10, Sayı 2, ss. 7-30.
  6. Beckmann, J., Belke, A., Verheyen, F., (2013). “Interest Rate Pass-Through in the EMU - New Evidence from Nonlinear Cointegration Techniques for Fully Harmonized Data”, Journal of International Money and Finance, Vol. 37, pp. 1-24 (frühere Versionen erhältlich als DIW Discusion Paper 1223, Ruhr Economic Paper 350). Betts, C., Devereux, M.B., (1996). “The exchange rate in a model of pricing-to-market”, European Economic Review, 40, pp. 1007–1021.
  7. Betts, C., Devereux, M. B., (2000). “Exchange-rate dynamics in a model of pricing-to market”, Journal of International Economics, 50, pp. 215-244.
  8. Brun-Aguerre, R., Fuertes, A., Phylaktis, K., (2012). “Exchange rate pass-through into import prices revisited: What drives it?”, Journal of International Money and Finance, 31, Issue 4, pp. 818-844. Bussière, M., (2007). “Exchange rate pass-through to trade prices –the role of non-linearities and asymmetries”, ECB Working Paper No. 822, European Central Bank, Frankfurt am Main. Caballero, R. J., Engel, E M R A (1993). “Microeconomic rigidities and aggregate price Dynamics”, European Economic Review, Vol. 37, pp. 697-717.
  9. Campa, J., Goldberg, L. S., (2002). “Exchange Rate Pass Through into Import Prices: A macro or micro http://www.nber.org/papers/w8934 National Bureau of Economic Research (NBER) Campa, J., Goldberg, L. S., (2005). “Exchange Rate Pass Through into Import Prices.” Review of Economics and Statistics 87, 4 (November), pp. 679-690.
  10. Campa, J., Goldberg, L. S., (2008). “Pass-Through of Exchange Rates to Consumpt