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2
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44
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10
The effect of monetary aggregates on real economic variables is an issue that is interpreted differently. While Classics and Neoclassics teaches the neutrality of money, but schools such as Keynesian, Monetarist, New Classical and New Keynesian argue that there is a relationship. This study aims to test this issue for 2006:Q1-2016:Q2 with M2 minus foreign deposits and Real GDP. Cointegration analyzes were carried out with unit root tests, which take into structural breaks and non-structural breaks. According to the test results that did not take into consideration the structural breaks, The cointegration between M2 and Real GDP could not be determined; but on the other hand, it was. Considering the Turkish economy in the period; the neutrality of money was rejected. So changes in money supply can be interpreted as having an impact on economic growth.
The effect of monetary aggregates on real economic variables is an issue that is interpreted differently. While Classics and Neoclassics teach the neutrality of money, but schools such as Keynesian, Monetarist, New Classical and New Keynesian argue that there is a relationship. This study aims to test this issue for 2006:Q1-2016:Q2 with M2 minus foreign deposits and Real GDP. Cointegration analyzes were carried out with unit root tests, which take into structural breaks and non-structural breaks. According to the test results that did not take into consideration the structural breaks, The cointegration between M2 and Real GDP could not be determined; but on the other hand, it was. Considering the Turkish economy in the period; the neutrality of money was rejected. So changes in money supply can be interpreted as having an impact on economic growth.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Ulusal
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