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This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles.
Book Synopsis Inflation and Disinflation in Turkey by : Faruk Selcuk
Download or read book Inflation and Disinflation in Turkey written by Faruk Selcuk and published by Routledge. This book was released on 2018-04-27 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles.
"This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles."--Provided by publisher.
Book Synopsis Inflation and Disinflation in Turkey by : Faruk Selcuk
Download or read book Inflation and Disinflation in Turkey written by Faruk Selcuk and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles."--Provided by publisher.
Book Synopsis Inflation and Disinflation in Turkey by : Zvi Yehuda Hershlag
Download or read book Inflation and Disinflation in Turkey written by Zvi Yehuda Hershlag and published by . This book was released on 1986 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
This paper analyzes the effects of monetary policy and fiscal adjustment on output and unemployment in Turkey. The model on which the analysis is based accounts for rural-urban migration, a large urban informal sector, flexible exchange rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and inflation expectations. The short- and long-run effects of a rise in official interest rates and tax increases are analyzed. The results highlight the importance of accounting for the link between default risk and credibility in understanding the real and financial effects of macroeconomic adjustment.
Book Synopsis Disinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey by : Pierre-Richard Ag??nor
Download or read book Disinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey written by Pierre-Richard Ag??nor and published by World Bank Publications. This book was released on 2012 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the effects of monetary policy and fiscal adjustment on output and unemployment in Turkey. The model on which the analysis is based accounts for rural-urban migration, a large urban informal sector, flexible exchange rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and inflation expectations. The short- and long-run effects of a rise in official interest rates and tax increases are analyzed. The results highlight the importance of accounting for the link between default risk and credibility in understanding the real and financial effects of macroeconomic adjustment.
Persistently high inflation rates have led many to believe that inflation in Turkey has become "inertial," posing an obstacle to disinflation. We assess the empirical validity of this argument. We find that the current degree of inflation persistence in Turkey is lower than in Brazil and Uruguay prior to their successful stabilization programs. More significantly, expectations of future inflation are more important than past inflation in shaping the inflation process, providing little evidence of "backward-looking" behavior. Using survey data, we find that inflation expectations, in turn, depend largely on the evolution of fiscal variables.
Book Synopsis Would "Cold Turkey" Work in Turkey? by : Oya Celasun
Download or read book Would "Cold Turkey" Work in Turkey? written by Oya Celasun and published by International Monetary Fund. This book was released on 2003-03-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Persistently high inflation rates have led many to believe that inflation in Turkey has become "inertial," posing an obstacle to disinflation. We assess the empirical validity of this argument. We find that the current degree of inflation persistence in Turkey is lower than in Brazil and Uruguay prior to their successful stabilization programs. More significantly, expectations of future inflation are more important than past inflation in shaping the inflation process, providing little evidence of "backward-looking" behavior. Using survey data, we find that inflation expectations, in turn, depend largely on the evolution of fiscal variables.
Persistent high inflation rate is one of the basic problems of Turkish economy until recent years. For solving the high inflation problem, several disinflation programs were put into force under the auspices of International Monetary Fund in 1980, 1994, 1999 and 2001. But, implementation of the disinflation policies was temporary and unstable under the political instabilities. From 1974 to 2002, political instabilities mainly influenced economic policies and implementation of the stabilization programs in Turkey. In this paper, we aimed to show the implementation of disinflation policy is difficult in political instability periods. We will investigate the cost of disinflation policies under the political instability and test by LSTAR-VAR (LSTVAR) analysis the cost of disinflation policies in the context of stabilization programs in Turkey between 1974 and 2002.
Book Synopsis Inflation and Disinflation Policy in Turkey Between 1974-2002 by : Melike Bildirici
Download or read book Inflation and Disinflation Policy in Turkey Between 1974-2002 written by Melike Bildirici and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Persistent high inflation rate is one of the basic problems of Turkish economy until recent years. For solving the high inflation problem, several disinflation programs were put into force under the auspices of International Monetary Fund in 1980, 1994, 1999 and 2001. But, implementation of the disinflation policies was temporary and unstable under the political instabilities. From 1974 to 2002, political instabilities mainly influenced economic policies and implementation of the stabilization programs in Turkey. In this paper, we aimed to show the implementation of disinflation policy is difficult in political instability periods. We will investigate the cost of disinflation policies under the political instability and test by LSTAR-VAR (LSTVAR) analysis the cost of disinflation policies in the context of stabilization programs in Turkey between 1974 and 2002.
Adding estimated behavioral equations to the standard RMSM- X model allows it to simulate the short- run consequences of inflation stabilization.
Book Synopsis Inflation Stabilization in Turkey by : Luc Everaert
Download or read book Inflation Stabilization in Turkey written by Luc Everaert and published by World Bank Publications. This book was released on 1992 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adding estimated behavioral equations to the standard RMSM- X model allows it to simulate the short- run consequences of inflation stabilization.
This paper analyzes the effects of monetary policy and fiscal adjustment on output and unemployment in Turkey. The model on which the analysis is based accounts for rural-urban migration, a large urban informal sector, flexible exchange rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and inflation expectations. The short- and long-run effects of a rise in official interest rates and tax increases are analyzed. The results highlight the importance of accounting for the link between default risk and credibility in understanding the real and financial effects of macroeconomic adjustment.
Book Synopsis Disinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey by : Pierre-Richard Agénor
Download or read book Disinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey written by Pierre-Richard Agénor and published by World Bank Publications. This book was released on 2006 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the effects of monetary policy and fiscal adjustment on output and unemployment in Turkey. The model on which the analysis is based accounts for rural-urban migration, a large urban informal sector, flexible exchange rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and inflation expectations. The short- and long-run effects of a rise in official interest rates and tax increases are analyzed. The results highlight the importance of accounting for the link between default risk and credibility in understanding the real and financial effects of macroeconomic adjustment.
High and variable inflation has been a central feature of the Turkish economy since the 1970s. This paper seeks to shed some light on the determinants of inflation in Turkey by analyzing price determination within the framework of a multi-sector macroeconomic model during 1970–95. The main findings are that monetary variables (initially money, more recently the exchange rate) play a central role in the inflationary process, that public sector deficits contribute to inflationary pressures, and that inertial factors are quantitatively important. Policymakers’ commitment to active exchange rate depreciation on several occasions in the past 15 years has also contributed to the inflationary process.
Book Synopsis An Econometric Analysis of the Determinants of Inflation in Turkey by : Ms.G. C. Lim
Download or read book An Econometric Analysis of the Determinants of Inflation in Turkey written by Ms.G. C. Lim and published by International Monetary Fund. This book was released on 1997-12-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: High and variable inflation has been a central feature of the Turkish economy since the 1970s. This paper seeks to shed some light on the determinants of inflation in Turkey by analyzing price determination within the framework of a multi-sector macroeconomic model during 1970–95. The main findings are that monetary variables (initially money, more recently the exchange rate) play a central role in the inflationary process, that public sector deficits contribute to inflationary pressures, and that inertial factors are quantitatively important. Policymakers’ commitment to active exchange rate depreciation on several occasions in the past 15 years has also contributed to the inflationary process.
170 4 The Growth Rate of the cpiic 170 5 The Log of The Time DepositRates of Turkey (Annual) 170 6 The Growth Rate of the Time Deposit Rates 170 7 TheLogofUSTreasuryBondRates 170 8 The Growth Rate of US Treasury Bond Rates 170 9 The Log of the dollar Exchange Rate of the Turkish Liras 170 10 The Growth Rate of Exchange rates 170 11 The Purchasing Power Parity, PPP 170 12 The Uncovered Interest Rate Parity 170 13 The Interest Rate Differentials of Turkey and the US 171 14 The Exchange Rate with a Dummy Variable which Consİders the Period After 1980 171 15 The Exchange Rate with a Dummy Variable which Considers the Period Before 1980 171 16 The UIP with a Dummy Variable which Considers the period After 1980 171 17a TheRealTimeDepositRatesofTurkey 171 17b The Real US Treasury Bond Rates 171 18 TheRealInterestRateDifferentialsofTurkeyandtheUS 171 19 The Cointegrating Relationships 176 Chapter 8.1 The Unemployment Rate 1963-88 192 2 The First Difference of the Unemployment Rate 192 3 The Logof the Unemployment Level 192 4 The Growth Rate of the Unemployment Level 192 5 The Log of the Labour Productivity in Manufacturing Sector 193 6 GrowthRate of Labour productivity 193 7 The Log of the Nominal Wages 193 8 The Log of the Real Wages 193 9 The Growth Rate of the Real Wages 195 10 The Log of the Manufacturing Sector Wholesale Price Index (mwpi) 195 11 The Growth Rate of the mwpi 195 12 The Wedge Between cpi and the mwpi 195 13 The productivity Adjusted Real Wages 195 14 The Cointegrating Relationships and the Driving Forces 200 Chapter 9.1 Actual and Fitted values of the Turkish Inflation Rate 213 2 The Scaled residuals 213.
Book Synopsis The Analysis of Inflation--the Case of Turkey (1948-1988) by : Kıvılcım Metin
Download or read book The Analysis of Inflation--the Case of Turkey (1948-1988) written by Kıvılcım Metin and published by . This book was released on 1995 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: 170 4 The Growth Rate of the cpiic 170 5 The Log of The Time DepositRates of Turkey (Annual) 170 6 The Growth Rate of the Time Deposit Rates 170 7 TheLogofUSTreasuryBondRates 170 8 The Growth Rate of US Treasury Bond Rates 170 9 The Log of the dollar Exchange Rate of the Turkish Liras 170 10 The Growth Rate of Exchange rates 170 11 The Purchasing Power Parity, PPP 170 12 The Uncovered Interest Rate Parity 170 13 The Interest Rate Differentials of Turkey and the US 171 14 The Exchange Rate with a Dummy Variable which Consİders the Period After 1980 171 15 The Exchange Rate with a Dummy Variable which Considers the Period Before 1980 171 16 The UIP with a Dummy Variable which Considers the period After 1980 171 17a TheRealTimeDepositRatesofTurkey 171 17b The Real US Treasury Bond Rates 171 18 TheRealInterestRateDifferentialsofTurkeyandtheUS 171 19 The Cointegrating Relationships 176 Chapter 8.1 The Unemployment Rate 1963-88 192 2 The First Difference of the Unemployment Rate 192 3 The Logof the Unemployment Level 192 4 The Growth Rate of the Unemployment Level 192 5 The Log of the Labour Productivity in Manufacturing Sector 193 6 GrowthRate of Labour productivity 193 7 The Log of the Nominal Wages 193 8 The Log of the Real Wages 193 9 The Growth Rate of the Real Wages 195 10 The Log of the Manufacturing Sector Wholesale Price Index (mwpi) 195 11 The Growth Rate of the mwpi 195 12 The Wedge Between cpi and the mwpi 195 13 The productivity Adjusted Real Wages 195 14 The Cointegrating Relationships and the Driving Forces 200 Chapter 9.1 Actual and Fitted values of the Turkish Inflation Rate 213 2 The Scaled residuals 213.
