Döviz Kurunun Fiyatlar Genel Düzeyi Üzerindeki Geçişkenlik Etkisi: Gecikmesi Dağıtılmış Yaklaşım
Pass-Through Effect of Exchange Rates to General Price Level: Distributed Lag Approach

Summary/Abstract: The size and duration of the impact of exchange rate on the general price level have been frequently discussed in the empirical literature. The debate has been mostly tested by the classical time series approaches such as causality and vector auto regressions based on the linear relationships. However, at this point, in analyzing the size and duration of the impact of exchange rate, the fact that non-linear distributed lag models will give more accurate results than linear models must be known. The purpose of this study is to determine the exchange-rate pass-through impact on the general price level by employing non-linear distributed lag models. The study covers the period of 2003-2014 for the Turkish economy. In this study, the size and duration of the impact of exchange rate, which is used as Euro and dollar, on the consumer and producer prices were estimated by the Almon model. The empirical findings of the study demonstrated that the pass-through impact of exchange rate on the general price level is non-linear in the case of Turkey.

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