Turkish economy faces currency substitution impact on inflation dynamics.
The study looked at how much money people in Turkey want to hold, and how this is affected by factors like income and exchange rates. They found that as people's income goes up, they want to hold even more money. The value of the Turkish lira compared to other currencies also plays a big role in how much money people want to keep. This shows that people in Turkey tend to switch to other currencies when deciding how much money to hold. Additionally, they found that changes in domestic inflation don't have a big impact on how much money people want to hold.