Freitas, Miguel Lebre dePinto, Joao Antonio Sousa2024-11-152024-11-152024-01-292023-12-20http://hdl.handle.net/10362/175302This study looks into Turkey's hyperinflation crisis, which is marked by a worrisome inflation rate that exceeded 60% in 2023. It particularly tests if the Central Bank of Turkey comply with the modified Taylor Rule amid the factors like COVID-19, political unrest, and the Global Financial Crisis of 2008. Using the quarterly data which spans over 2000Q1 to 2022Q4, this study finds that monetary policy in Turkey is aberrant from what is predicted by the Taylor rule. The study’s findings are crucial for formulating nuanced monetary policies that balance price stability with economic growth.engTaylor ruleHyperinflationOutput gapInflation gapMonetary policyEconomic growthTurkish central bankmaster thesis203600312