Interest Rates, Exchange Rates and Macroeconomic Performance

Seyfettin Erdoğan, Rıdvan Karacan and Barış Alpaslan

MPRA Paper from University Library of Munich, Germany

Abstract: In recent years, there has been a renewed interest in the fact that a change in exchange rates has an impact on main economic indicators and therefore on macroeconomic performance. The aim of this paper is to study the implications of the relationship between exchange rates and changes in short-term interest rates on macroeconomic performance in the Turkish economy. The results of this study show that monetary policy shocks may affect financial sector and real sector through exchange rates.

Keywords: Interest Rate; Exchange Rate; VAR Analysis (search for similar items in EconPapers)
JEL-codes: C13 E40 E52 E58 (search for similar items in EconPapers)
Date: 2013-10-13
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