Depreciation of Turkish Lira Fuels Inflation and Currency Substitution Trend.
The study looked at how people in Turkey decide to use money, focusing on factors like exchange rates and inflation. By analyzing data, the researchers found that the exchange rate plays a big role in how much money people want to hold. This suggests that when the value of the Turkish currency changes, people may change how they use money. They also found that inflation in Turkey is influenced by factors outside of how much money people want to hold. This means that inflation is not just about how much money is in circulation.