A Bayesian causal map for inflation analysis: The case of Turkey

A Bayesian causal map for inflation analysis: The case of Turkey

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Article ID: iaor20083883
Country: Netherlands
Volume: 175
Issue: 2
Start Page Number: 1268
End Page Number: 1284
Publication Date: Dec 2006
Journal: European Journal of Operational Research
Authors: , ,
Keywords: time series & forecasting methods
Abstract:

This paper proposes the use of Bayesian Causal Maps (BCMs) to analyze the complex structure of inflation in Turkey. In this study, a model of inflation is initially structured using a cognitive mapping technique; the dependent probabilities of the concepts are then calculated based on the detailed analysis of past data. Finally, a BCM is used to analyze the complex structure of inflation in Turkey. As a result, it will be possible to see the structure of the inflation model and to understand the basic consequences of any strategic change that may occur in the system.

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