@article {10.3844/ajassp.2005.920.925,
article_type = {journal},
title = {Currency Substitution in Turkey},
author = {Genc, Ismail H. and Sahin, Hasan and Erol, Turan},
volume = {2},
year = {2005},
month = {May},
pages = {920-925},
doi = {10.3844/ajassp.2005.920.925},
url = {https://thescipub.com/abstract/ajassp.2005.920.925},
abstract = {We investigated whether the recent depreciations in the Turkish currency (Lira) resulted in the currency substitution away from Lira by using quarterly data over the period from 1987:1 to 2000: 2 with M1 and M2 monetary aggregates and income, interest rate and exchange rate. Other than the variety of monetary aggregates, we tried different ways of including the interest rate into the models to ensure the robustness of our results. Our analysis shows that the currency substitution in fact happened with Lira.},
journal = {American Journal of Applied Sciences},
publisher = {Science Publications}
}