Turkey: Manufacturing sector very sensitive to monetary tightening
A paper published by the Central Bank of Turkey in July shows that manufacturing most affected by a monetary tightening.
Saygın Şahinoz and Evren Erdogan Cosar, the authors of the paper, compare the reactions of different sectors to monetary policy shocks over time using a VAR framework to measure economic output from 1985 to 2009.
The paper investigates the response of output in Turkish manufacturing industries to monetary policy shocks within the vector autoregressive framework. The results
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