PRISONER DILEMMA BETWEEN POLICY MAKERS: EVIDENCE FROM TURKEY

  • Metin Tetik Uşak University, School of Applied Science, Turkey
  • Reşat Ceylan Pamukkale University, Department of Economics, Turkey
Keywords: Monetary Policy, Fiscal Policy, Prisoners' Dilemma

Abstract

In this study, we present about the interaction between monetary and fiscal policy makers in the Turkish economy since the 2001 crisis. This interaction is evaluated by a theoretical perspective of the game. The data show that there is a conflict between the monetary and fiscal policy makers in the Turkish economy, especially in some periods. The coordination problem created by this conflict is affecting social welfare negatively. Therefore, we argue that during these periods, there is a state of "Prisoners' Dilemma" among policy makers.

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References

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Published
2017-12-29
How to Cite
Tetik, M., & Ceylan, R. (2017). PRISONER DILEMMA BETWEEN POLICY MAKERS: EVIDENCE FROM TURKEY. BizInfo (Blace) Journal of Economics, Management and Informatics, 8(2), 1-13. https://doi.org/10.5937/bizinfol702001T