[
1. Ahmad, A. H., & Aworinde, O. (2016). The role of structural breaks, nonlinearity and asymmetric adjustments in African bilateral real exchange rates. International Review of Economics and Finance, 144–159.10.1016/j.iref.2016.05.004
]Search in Google Scholar
[
2. Akyurek, C., Kutan, A., & Yilmazkuday, H. (2011). Can inflation targeting regimes be effective in developing countries? The Turkish experience. Journal of Asian Economics 22-, 343–355.10.1016/j.asieco.2011.05.004
]Search in Google Scholar
[
3. Aleem, A., & Lahiani, A. (2014). A threshold vector autoregression model of exchange rate pass-through in Mexico. Research in International Business and Finance, 24–33.10.1016/j.ribaf.2013.05.001
]Search in Google Scholar
[
4. Ali, S. Z., & Anwar, S. (2017). Exchange rate pass through, cost channel to monetary policy transmission, adaptive learning, and the price puzzle. International Review of Economics & Finance, 48, 69-82.10.1016/j.iref.2016.11.010
]Search in Google Scholar
[
5. Ali, S. Z., & Anwar, S. (2018). Price puzzle in a small open New Keynesian model. The Quarterly Review of Economics and Finance, 69, 29-42.10.1016/j.qref.2017.12.001
]Search in Google Scholar
[
6. Arbia, G., Bramante, R., Facchinetti, S., & Zappa, D. (2018). Modeling inter-country spatial financial interactions with Graphical Lasso: An application to sovereign co-risk evaluation. Regional Science and Urban Economics 70 (2018) 72–79.10.1016/j.regsciurbeco.2018.02.006
]Search in Google Scholar
[
7. Atanasova, C. (2003). Credit Market Imperfections and Business Cycle Dynamics: A Nonlinear Approach. Studies in Nonlinear Dynamics & Econometrics. 7,410.2202/1558-3708.1112
]Search in Google Scholar
[
8. Atgür, M., & Altay, N. (2017). Examination of the exchange rate and interest rate channels of the monetary transmission mechanism during the inflation targeting: Turkey and Mexico countries examples. Theoretical and Applied Economics, 137-160.
]Search in Google Scholar
[
9. Awdeh, A., Jomaa, Z., & Kassem, M. (2020). The Effect of Bank Heterogeneity on the Interest Rate Channel in Lebanon. Journal of Central Banking Theory and Practice, 9(1), 81-95.10.2478/jcbtp-2020-0005
]Search in Google Scholar
[
10. Balke, N. S. (2000). Economics And Statistics Credit And Economic Activity: Credit Regimes And Nonlinear Propagation Of Shocks. The Review of Economics and Statistics, 344-349.10.1162/rest.2000.82.2.344
]Search in Google Scholar
[
11. Baum, A., & Gerrit B. Koester, Gerrit B. (2011). The impact of fiscal policy on economic activity over the business cycle –evidence from a threshold VAR analysis. Discussion Paper Series 1: Economic Studies.10.2139/ssrn.2785397
]Search in Google Scholar
[
12. Berument, H. (2007). Measuring monetary policy for a small open economy: Turkey. Journal of Macroeconomics, 411-430.10.1016/j.jmacro.2006.02.001
]Search in Google Scholar
[
13. Berument, H., & Dincer, N. N. (2008). Measuring the effects of monetary policy for Turkey. Journal of Economic Cooperation, 83 - 110.
]Search in Google Scholar
[
14. Brissimis, S. N., & Nicholas S. Magginas. (2006). Forward-looking information in VAR models and the price puzzle. Journal of Monetary Economics, 53, 1225–1234.10.1016/j.jmoneco.2005.05.014
]Search in Google Scholar
[
15. Çatık, A. N. & Martin, C. (2012). Macroeconomic transitions and the transmission mechanism: Evidence from Turkey. Economic Modelling 29 (2012) 1440–1449. doi:10.1016/j.econmod.2012.02.01510.1016/j.econmod.2012.02.015
]Search in Google Scholar
[
16. Çatık, A. N., & Karaçuka, M. (2012). The bank lending channel in Turkey: has it changed after the low-inflation regime? Applied Economics Letters, Volume 19, 2012 - Issue 13.10.1080/13504851.2011.619479
]Search in Google Scholar
[
17. Çifter, A., & Özün, A. (2007). The Monetary Transmission Mechanism in the New Economy: Evidence from Turkey (1997-2006). South East European Journal of Economics, 15-24.10.2478/v10033-007-0011-3
]Search in Google Scholar
[
18. Cook, S. (2005). The stationarity of consumption–income ratios: Evidence from minimum LM unit root testing. Economics Letters, 55–60.10.1016/j.econlet.2005.05.010
]Search in Google Scholar
[
19. Dahlhaus, T. (2017) Conventional Monetary Policy Transmission During Financial Crises: An Empirical Analysis. Journal of Applied Econometrics, 32: 401–421.10.1002/jae.2524
]Search in Google Scholar
[
20. Debarsy, N., Dossougoin, C., Ertur, C., & Gnabo, J.-Y. (2018). Measuring sovereign risk spillovers and assessing the role of transmission channels: A spatial econometrics approach. Journal of Economic Dynamics & Control 87, 21–45.10.1016/j.jedc.2017.11.005
]Search in Google Scholar
[
21. Dimitriou, D., & Theodore, S. (2013). Testing purchasing power parity for Japan and the US: A structural-break approach. Japan and the World Economy, 53–59.10.1016/j.japwor.2013.07.001
]Search in Google Scholar
[
22. Doğan, B. (2012). Traditional Transmission Mechanism: The Case Of Turkey. Dumlupınar University, Journal of Social Sciences, 211-220.
]Search in Google Scholar
[
23. Donayre, L., & Panovska, I. (2016). State-dependent exchange rate pass-through behavior. Journal of International Money and Finance 64, 170–195.10.1016/j.jimonfin.2016.02.018
]Search in Google Scholar
[
24. Eichenbaum, M. (1992). “Comments on ‘Interpreting the Macroeconomic Time Series Facts: The Effects of Monetary Policy’ by Christopher Sims,” European Economic Review 36: 1001–1011.10.1016/0014-2921(92)90042-U
]Search in Google Scholar
[
25. El-Shazly, A. (2016). Structural breaks and monetary dynamics: A time series analysis. Economic Modelling, 133–143.10.1016/j.econmod.2015.11.019
]Search in Google Scholar
[
26. Erdoğan, S., & Yıldırım, D. Ç. (2009). Monetary Transmission Through Interest Rate Channel in Turkey. Eskişehir Osmangazi University Journal of Economics and Administrative Sciences, 57-72.
]Search in Google Scholar
[
27. Ferraresi, T., Roventini, A., & Fagiolo, G. (2015). Fiscal policies and credit regimes: a tvar approach. Journal of applied econometrics, J. Appl. Econ. 30: 1047–1072 (2015).10.1002/jae.2420
]Search in Google Scholar
[
28. Fischer, S. (1992) Macroeconomic stability and growth. Cuadernos de Economía 29(87):171–186
]Search in Google Scholar
[
29. Galbraith, J.W. (1996). Credit Rationing and Threshold Effects in the Relation Between Money and Output, Journal of Applied Econometrics, Vol. 11,419-429.10.1002/(SICI)1099-1255(199607)11:4<419::AID-JAE400>3.0.CO;2-Z
]Search in Google Scholar
[
30. Ghosh, S. (2020). Does financial interconnectedness affect monetary transmission? Evidence from India. Macroeconomics and Finance in Emerging Market Economies. DOI: 10.1080/17520843.2020.1859574
]Open DOISearch in Google Scholar
[
31. Gocer, I., & Ongan, S. (2020). The relationship between inflation and interest rates in the UK: The nonlinear ARDL approach. Journal of Central Banking Theory and Practice, 9(3), 77-86.10.2478/jcbtp-2020-0037
]Search in Google Scholar
[
32. Gündüz, I. (2020). Stock market transmission channel of monetary policy: Empirical evidence from Turkey. Int J Fin Econ. 2020;1–23. DOI: 10.1002/ijfe.2129
]Open DOISearch in Google Scholar
[
33. Guo, F. (2013). What Causes China’s High Inflation? A Threshold Structural Vector Autoregression Analysis. China & World Economy / 100–120, Vol. 21, No. 6.10.1111/j.1749-124X.2013.12048.x
]Search in Google Scholar
[
34. Hanson, M. S. (2004). The ‘‘price puzzle’’ reconsidered. Journal of Monetary Economics 51 (2004), 1385–1413.10.1016/j.jmoneco.2003.12.006
]Search in Google Scholar
[
35. Hasanov, M., Araç, A. & Telatar, F. (2010). Nonlinearity and structural stability in the Phillips curve: Evidence from Turkey, Economic Modelling 27 (2010) 1103–1115. doi: 10.1016/j.econmod.2010.03.009
]Open DOISearch in Google Scholar
[
36. Ho, T.-W. (2005). Investigating the threshold effects of inflation on PPP. Economic Modelling 22, 926–948.10.1016/j.econmod.2005.06.009
]Search in Google Scholar
[
37. Iddrisu, A. A. & Alagidede, I. P. (2020). Revisiting interest rate and lending channels of monetary policy transmission in the light of theoretical prescriptions. Central Bank Review 20 (2020) 183-192. https://doi.org/10.1016/j.cbrev.2020.09.00210.1016/j.cbrev.2020.09.002
]Search in Google Scholar
[
38. İsmihan, M., Metin-Ozcan, K. & Tansel, A. (2006). The role of macroeconomic instability in public and private capital accumulation and growth: the case of Turkey 1963–1999. Applied Economics, 37:2, 239-251, https://doi.org/10.1080/000368404200028611510.1080/0003684042000286115
]Search in Google Scholar
[
39. Karim, Z. A. (2012). Monetary policy effects on investment spending: a firm-level study of Malaysia. Studies in Economics and Finance, 29(4), 268-286.10.1108/10867371211266919
]Search in Google Scholar
[
40. Keating, J. W., Logan J. Kelly, & Victor J. Valcarcel. (2014). Solving the price puzzle with an alternative indicator of monetary policy. Economics Letters 124, 188–194.10.1016/j.econlet.2014.05.012
]Search in Google Scholar
[
41. Kesbiç, C. Y., Dündar, Ö., & Devrim, A. (2016). Crowding Out Effect of Public Investments on Private Sector Investments: The Turkey Example. Dokuz Eylul University Faculty of Economics and Administrative Sciences Journal, Cilt:31, Sayı:2, Yıl:2016, ss. 59-94.10.24988/deuiibf.2016312502
]Search in Google Scholar
[
42. Kum, H. (2012). The Impact of Structural Break(s) on the Validity of Purchasing Power Parity in Turkey: Evidence from Zivot-Andrews and Lagrange Multiplier Unit Root Tests. International Journal of Economics and Financial Issues, 241-245.
]Search in Google Scholar
[
43. Lau, W-Y. & Yip, T-M. (2020). How do monetary transmission channels influence inflation in the short and long run? Evidence from the QQE regime in Japan, The Journal of Economic Asymmetries 21, e00157. https://doi.org/10.1016/j.jeca.2020.e0015710.1016/j.jeca.2020.e00157
]Search in Google Scholar
[
44. Lee, J., & Strazicich, M. (2002). Minimum LM unit root test with two structural breaks. Discussion Paper Check Department of Economics, University of Central Florida, 2-20.
]Search in Google Scholar
[
45. Lee, J., & Strazicich, M. (2003). Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks. The Review of Economics and Statistics, 1082-1089.10.1162/003465303772815961
]Search in Google Scholar
[
46. Lumsdaine, R. L., & Papell, D. (1997). Multiple Trend Breaks and the Unit Root Hypothesis. Review of Economics and Statistics, 212-1810.1162/003465397556791
]Search in Google Scholar
[
47. Mallick, A., & Sethi, N. (2019). What Causes India’s High Inflation? A Threshold Structural Vector Autoregression Analysis. Institutions and Economies Vol. 11, No. 1, 23-43.
]Search in Google Scholar
[
48. Mandler, M. (2012). Inflation-regime dependent effects of monetary policy shocks. Evidence from threshold vector autoregressions. Economics Letters 116 (2012) 422–425.10.1016/j.econlet.2012.04.027
]Search in Google Scholar
[
49. McCallum, J. (1991). Credit Rationing and the Monetary Transmission Mechanism. The American Economic Review
]Search in Google Scholar
[
50. Mehrotra, A. N. (2007). Exchange and interest rate channels during a deflationary era—Evidence from Japan, Hong Kong and China, Journal of Comparative Economics, 35(1), 188-210.10.1016/j.jce.2006.10.004
]Search in Google Scholar
[
51. Mishkin, F. S. (1995). “Symposium on the Monetary Transmission Mechanism.” Journal of Economic Perspectives, 9 (4): 3-10.10.1257/jep.9.4.3
]Search in Google Scholar
[
52. Mishkin, F.S. (2017). Rethinking monetary policy after the crisis. Journal of International Money and Finance 73 (2017) 252–274. http://dx.doi.org/10.1016/j.jimonfin.2017.02.00710.1016/j.jimonfin.2017.02.007
]Search in Google Scholar
[
53. Mohanty, D. (2012). Evidence of interest rate channel of monetary policy transmission in India. In Second International Research Conference at the Reserve Bank of India, February (pp. 1-2).
]Search in Google Scholar
[
54. Montiel P., and Servén, L. (2006) Macroeconomic stability in developing countries: how much is enough?. World Bank Res Obs 21(2):151–17810.1093/wbro/lkl005
]Search in Google Scholar
[
55. Mukhtarov, S., & and Aliyev, K. (2014). Effectiveness Of The Interest Rate Channel As A Monetary Transmission Mechanism: The Application Of Azerbaijan. Journal of Qafqaz University, 111-118.
]Search in Google Scholar
[
56. Nain, Z., & Kamaiah, B. (2020). Uncertainty and Effectiveness of Monetary Policy: A Bayesian Markov Switching-VAR Analysis. Journal of Central Banking Theory and Practice, 9(s1), 237-265.10.2478/jcbtp-2020-0030
]Search in Google Scholar
[
57. Narayan, P. K. (2006). Examining structural breaks and growth rates in international health expenditures. Journal of Health Economics, 877-890.10.1016/j.jhealeco.2005.12.001
]Search in Google Scholar
[
58. Papadamou, S., & Oikonomou, G. (2007). The monetary transmission mechanism: evidence from eight economies in transition. International Economic Journal, 21(4), 559-576.10.1080/10168730701698887
]Search in Google Scholar
[
59. Papadamou, S., Sidiropoulos, M., & Spyromitros, E. (2015). Central bank transparency and the interest rate channel: Evidence from emerging economies. Economic Modelling, 48, 167-174.10.1016/j.econmod.2014.10.016
]Search in Google Scholar
[
60. Peersman, G. (2001). The Transmission Of Monetary Policy In The Euro Area: Implications For The European Central Bank. Department of Economics and Business Administration
]Search in Google Scholar
[
61. Perron, P. (1989). The great crash, the oil prices shock and the unit root hypothesis. Econometrica, 1361–1401.10.2307/1913712
]Search in Google Scholar
[
62. Petersen, K. (2007). Does the Federal Reserve Follow a Non-Linear Taylor Rule? Economics Working Papers. 200737. https://opencommons.uconn.edu/econ_wpapers/200737
]Search in Google Scholar
[
63. Sabkha, S., Peretti, C., & Hmaied, D. (2019). Nonlinearities in the oil effects on the sovereign credit risk: A self exciting threshold autoregression approach. Research in International Business and Finance 50,106–13310.1016/j.ribaf.2019.04.005
]Search in Google Scholar
[
64. Saldías, M. (2017). The Nonlinear Interaction Between Monetary Policy and Financial Stress, IMF Working Paper. WP/17/18410.5089/9781484313794.001
]Search in Google Scholar
[
65. Şen, H., & Kaya, A. (2014). Crowding-Out or Crowding-In? Analyzing the Effects of Government Spending on Private Investment in Turkey. Panoeconomicus, 61(6), 631-651. doi: 10.2298/PAN1406631S
]Open DOISearch in Google Scholar
[
66. Shen, C.-H. & Chiang, T.-N. (1999). Retrieving the Vanishing Liquidity Effect—A Threshold Vector Autoregressive Model. Journal of Economics and Business; 51:259–277.10.1016/S0148-6195(98)00021-6
]Search in Google Scholar
[
67. Sims, C. A. (1992). Interpreting the macroeconomic time series facts: The effects of monetary policy. European economic review, 36(5), 975-1000.10.1016/0014-2921(92)90041-T
]Search in Google Scholar
[
68. Smal, M. M., & Jager, S. (2001). The monetary transmission mechanism in South Africa. South African Reserve Bank, 1-19. Statista: https://www.statista.com/statistics/263599/gross-domestic-product-gdp-per-capita-in-turkey/#statisticContainer
]Search in Google Scholar
[
69. Taylor, J.B. (1995). The Monetary Transmission Mechanism: An Empirical Framework. Journal of Economic Perspectives — Volume 9, Number 4 — Fall 1995 — Pages 11–2610.1257/jep.9.4.11
]Search in Google Scholar
[
70. Tena, J.d.D. & Tremayne, A. (2009). Modelling monetary transmission in UK manufacturing industry, Economic Modelling, 2009, vol. 26, issue 5, 1053-1066. http://www.sciencedirect.com/science/article/pii/S0264-9993(09)00068-610.1016/j.econmod.2009.04.003
]Search in Google Scholar
[
71. Tsay, R. S. (1998). Testing and Modeling Multivariate Threshold Models. Journal of the American Statistical Association, 1188-1202. DOI: 10.1080/01621459.1998.10473779
]Open DOISearch in Google Scholar
[
72. Uysal, D., & Mucuk, M. (2003). Crowding-out (dışlama) etkisi: Türkiye örneği (1975-2000). The Journal of Social Economic Research, 3(5), 158-171.
]Search in Google Scholar
[
73. Vinayagathasan, T. (2013). Inflation and economic growth: A dynamic panel threshold analysis for Asian economies. Journal of Asian Economics 26, 31-41.10.1016/j.asieco.2013.04.001
]Search in Google Scholar
[
74. World Bank. (2021). Turkey Economic Monitor, April 2021: Navigating the Waves. World Bank.
]Search in Google Scholar
[
75. Wulandari, R. (2012). Do credit channel and interest rate channel play important role in monetary transmission mechanism in Indonesia?: A structural vector autoregression model. Procedia-Social and Behavioral Sciences, 65, 557-563.10.1016/j.sbspro.2012.11.165
]Search in Google Scholar
[
76. Yue, Y. D., & Zhou, S. H. (2007). Empirical analysis of the monetary policy transmission through interest rate channel in China. Chinese Business Review, 6(3), 8-13.
]Search in Google Scholar
[
77. Zhan, S., Tang, Y., Li, S., Yao, Y., Zhan, M. (2021). How does the money market development impact the bank lending channel of emerging Countries? A case from China. North American Journal of Economics and Finance 57, 101381. https://doi.org/10.1016/j.najef.2021.101381/10.1016/j.najef.2021.101381
]Search in Google Scholar
[
78. Zivot, E., & Andrews, D. W. (1992). Further Evidence on the Great Crash, the Oil Price Shock and the Unit Root Hypothesis. Journal of Business and Economic Statistics, 251-270.10.1080/07350015.1992.10509904
]Search in Google Scholar
