Author/Authors :
YILMAZ, Sinem Karadeniz Teknik Üniversitesi - Sosyal Bilimler Enstitüsü, Turkey , ABDİOĞLU, Zehra Karadeniz Teknik Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - Ekonometri Bölümü, Turkey
Title Of Article :
RATIONAL EXPECTATION HYPOTHESIS: THE CASE OF TURKISH MANUFACTURING INDUSTRY
Abstract :
The aim of this study is to test rationality of inflation expectations in Turkey. In this study, the rationality of manufacturing industry and sub-sectors’ inflation expectations were investigated in Turkey using the Manufacturing Industry Tendency Statistics which reported by Turkish Statistical Institute (TurkStat) for the period of 1992-2009. Whether the expectations are rational is tested by the analysis of unbiasedness, autocorrelation, efficiency, and orthogonality. According to results, the inflation expectations for the total manufacturing industry and sub-sectors are not rational for the period under discussion.
NaturalLanguageKeyword :
Rationality , Manufacturing Industry , Unbiasedness , Efficiency , Orthogonality.
JournalTitle :
dokuz eylul university the journal of graduate school of social sciences
