The Relationship Between Price Stability and Financial Stability: Evidence From Major Emerging Economies

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dc.authorid0000-0002-3865-5868
dc.authorscopusid57136817300
dc.authorscopusid57204122844
dc.authorscopusid8873464300
dc.authorwosidDibooglu, Sel/AAJ-4102-2020
dc.authorwosidyurtkur, asuman koç/AAC-8497-2019
dc.contributor.authorÇevik, Nüket Kırcı
dc.contributor.authorYurtkur, Asuman Koc
dc.contributor.authorDibooğlu, Sel
dc.date.accessioned2022-05-11T14:33:44Z
dc.date.available2022-05-11T14:33:44Z
dc.date.issued2019
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, Maliye Bölümü
dc.description.abstractWe examine the relationship between price stability and financial stability for major emerging economies using a Markov regime-switching model. Empirical results suggest that monetary policy is consistent with the Taylor rule in all countries except for India and all countries followed both low and high inflation targeting monetary policy regimes. Low inflation targeting regime seems to be more persistent and has higher duration than high inflation targeting regimes except for Indonesia and South Africa. All countries seem to have had financial stability concerns when they formulated their monetary policy as the coefficient of the financial stress index is statistically significant at least in one regime. Overall the results suggest that Taylor rule-based monetary policies have been implemented to various degrees in major emerging economies to achieve economic stability, price stability, and financial stability.
dc.identifier.doi10.1080/1226508X.2018.1531353
dc.identifier.endpage45
dc.identifier.issn1226-508X
dc.identifier.issn1744-3873
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-85054572849
dc.identifier.scopusqualityQ2
dc.identifier.startpage25
dc.identifier.urihttps://doi.org/10.1080/1226508X.2018.1531353
dc.identifier.urihttps://hdl.handle.net/20.500.11776/7883
dc.identifier.volume48
dc.identifier.wosWOS:000457547800002
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorÇevik, Nüket Kırcı
dc.language.isoen
dc.publisherRoutledge Journals, Taylor & Francis Ltd
dc.relation.ispartofGlobal Economic Review
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectMonetary policy
dc.subjectfinancial stability
dc.subjectTaylor rule
dc.subjectemerging markets
dc.subjectMarkov regime switching model
dc.subjectMonetary-Policy Rules
dc.subjectStress
dc.titleThe Relationship Between Price Stability and Financial Stability: Evidence From Major Emerging Economies
dc.typeArticle

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