ENFLASYON HEDEFLEMESİ STRATEJİSİ: KÜRESEL FİNANSAL KRİZİN ÖĞRETTİKLERİ
INFLATION TARGETING STRATEGY: LESSONS FROM THE GLOBAL FINANCIAL CRISIS
Author(s): Zeki Akbakay, Bahar Burtan DoğanSubject(s): Supranational / Global Economy, Transformation Period (1990 - 2010), Financial Markets
Published by: Bingöl Üniversitesi Sosyal Bilimler Enstitüsü
Keywords: Monetary Policy; Inflation Targeting; Financial Stability; Financial Crisis; Macroeconomic Performance;
Summary/Abstract: The most obvious feature of the period preceded the global financial crisis is the reduction of high inflation rates across the world. Moreover, the reduction of inflation coincided with more stable growth rates and financial stability. Thus, central bank communities and many economists have strongly advocated the view that achieving price stability ensures financial stability. Nevertheless, the decline in inflation was accompanied by profound development in financial markets that set the stage for the current crisis. All of these development show that price stability is not enough for financial stability. This study examines what we have learned and how we changed our thoughts about inflation targeting strategy in the aftermath of the 2007-2009 financial crisis.
Journal: Bingöl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi (BUSBED)
- Issue Year: 6/2016
- Issue No: 12
- Page Range: 73-96
- Page Count: 24
- Language: Turkish