Global crisis after inflation and exchange rate on the impact of non-conventional monetary policy: The case of Turkey

The aim of this research the effect of non-traditional post-crisis monetary policy on inflation and the exchange rate is to examine the example of Turkey. In the research, variables were obtained from the CBRT database within the scope of the econometric model. The data cover the period 2008-2018. The reason for this period to be taken is to determine the 2008 crisis period. As a result of the Granger causality test, it has been determined that the interest rate does not affect the exchange rate and inflation. This shows that monetary policies in the country do not have a direct effect on exchange rate and inflation. As a result, regression model was not found suitable because the variables were not stationary in their level values. Granger causality test has been carried out because of stagnation at different levels. However, according to test results, it has been determined that interest rates have an effect on exchange rate and inflation. monetary policy implemented in Turkey after 2008 are not directly impact on the exchange rate or inflation rate. Turkey's production and is dependent on foreign oil, exchange rates and monetary policy can be expressed as a cause lack effective on inflation. Keywords: Global Crisis, Unconventional Monetary Policies, Inflation, Exchange Rate