Money Shocks and Output: A Contemporary Money Demand Approach

Empirical Economics Letters, Vol. 7, No. 1, pp. 1-4, 2008

7 Pages Posted: 25 Sep 2007 Last revised: 27 May 2010

See all articles by Hakan Yilmazkuday

Hakan Yilmazkuday

Florida International University (FIU) - Department of Economics

Date Written: January 1, 2008

Abstract

We analyze the short-run effects of money shocks on output in the contemporary world. As our benchmark case, we visit Bernanke (1983) for the Turkish economy over the monthly period 2002M1-2006M10. We show that money shocks affect output with a lag of one month. After that, we introduce our contemporary model in which we include the effects of the usage of bank cards (i.e., credit and debit cards) into our analysis. Our contemporary model suggests that money shocks affect output for longer periods compared to the results obtained by the method of Bernanke (1983).

Keywords: Money Shocks, Money demand, Growth, Turkey

JEL Classification: E41

Suggested Citation

Yilmazkuday, Hakan, Money Shocks and Output: A Contemporary Money Demand Approach (January 1, 2008). Empirical Economics Letters, Vol. 7, No. 1, pp. 1-4, 2008, Available at SSRN: https://ssrn.com/abstract=1016709

Hakan Yilmazkuday (Contact Author)

Florida International University (FIU) - Department of Economics ( email )

11200 SW 8th Street
Miami, FL 33199
United States

HOME PAGE: http://faculty.fiu.edu/~hyilmazk/

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