Enflasyon Rejimleri ve Üretici Enflasyonundan Tüketici EnflasyonunaGeçiskenlik

Creative Commons License

Yildirim Z.

Central Bank Review, vol.15, no.4, pp.89-114, 2015 (Scopus)

  • Publication Type: Article / Article
  • Volume: 15 Issue: 4
  • Publication Date: 2015
  • Journal Name: Central Bank Review
  • Journal Indexes: Scopus, TR DİZİN (ULAKBİM)
  • Page Numbers: pp.89-114
  • Anadolu University Affiliated: Yes


This paper investigates long-run and short-run dynamics between producer and consumer inflations taking into account inflation regime shifts. The results reveal that the regime shifts considerably affect the relationship between the two variables. The long-run estimates show that the pass-through of producer inflation to consumer inflation partly decreases in low inflation regime although there is about to complete pass-through from producer inflation to consumer inflation in high inflation regime. The causality analysis discloses a strong feedback effect between producer and consumer inflations in high inflation regime. However, it suggests that the causal relationship between the two variables weakens in low inflation regime. As a result, even if the regime shifts partly weaken the relationship between producer and consumer inflations, import dependency structure of Turkish economy necessitates that developments in producer inflation are also closely followed in low inflation environment.