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Title: |
Exchange market pressure in Turkey 1993-2004: an application of the girton-roper monetary model |
| Author: |
Parlaktuna, Inci |
| Author
Affiliation: |
Osmangazi University, Eskişehir, Turkey |
| Source: |
International Economic Journal, March 2005, v. 19, no. 1, pp. 51-62 |
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Publication Date: |
March 2005 |
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Abstract: |
In this paper, Lance Girton & Don Roper's (1977) monetary model of Exchange Market Pressure (EMP) is applied to the Turkish economy in the period of 1993-2004. The results provide strong evidence of negative relation between domestic credit and exchange market pressure (EMP) and indicate that the Central Bank of the Republic of Turkey (TCMB) absorbed most of the exchange market pressure by adjusting the foreign reserves. |
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