Türkiye'de savunma harcamalarının ekonomik büyüme üzerindeki etkisi: 2006-2026

Abstract

In the 21st century, many studies have explained monetary policy rules based on interest rates. The most significant factors that affect the spending decisions of businesses and households are interest rates and inflation. The effectiveness of monetary policy largely depends on how accurately this relationship is understood and managed. The aim of this study is to examine the theoretical foundations of the relationship between inflation and interest rates and to analyze how this relationship is interpreted within different economic schools of thought. The study examines the Fisher effect, the Keynesian approach, and the monetarist view. The interest rates determined by the Central Bank's currency board also affect inflation through the transmission mechanism. The study concludes that the relationship between inflation and interest rates is neither linear nor stable; rather, it varies depending on inflation expectations, economic structure, and the credibility of monetary policy.