Author/Authors
YILDIRIM, Erhan Çukurova Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İktisat Bölümü, Turkey , LOPCU, Kenan Çukurova Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - Ekonometri Bölümü, Turkey , ÇAKMAKLI, Selim Çukurova Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İktisat Bölümü, Turkey , ÖZKAN, Özlem Çukurova Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İktisat Bölümü, Turkey
Title Of Article
A New Keynesian Macro Economic Model: Application to Turkish Economy
شماره ركورد
44247
Abstract
A new consensus in macroeconomics called the New Neo-Classical Synthesis or New Keynesian Macroeconomic Model (NKMM) emerged at the end of the 1990s. The fundamental feature of this consensus is that it is formed by the synthesis of ideas from the New Classical, Real Business Cycle, and New Keynesian Models. The NKMM consists of an inflation equation, an aggregate demand equation, and a monetary policy rule. In this paper, the full information maximum likelihood (FIML) method is used to estimate the NKMM and determine whether it is useful in explaining the fluctuations in the Turkish economy. The first implications show that the NKMM can be used to explain the fluctuations in the Turkish economy.
From Page
1269
NaturalLanguageKeyword
The new keynesian macroeconomic model , taylor rule , monetary policy , full information maximum likelihood method
JournalTitle
Ege Academic Review (EAR)
To Page
1277
JournalTitle
Ege Academic Review (EAR)
Link To Document