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Inflation targeting, employment creation and economic development: assessing the impacts and policy alternatives
Inflation targeting (IT) has recently become the dominant monetary policy prescription for both developing and industrialized countries alike. Emerging market governments, in particular, are increasingly pressured to follow ...
On the structural weaknesses of the post-1999 Turkish disinflation program
In December 1999, Turkey initiated an extensive disinflation program backed and supervised by the International Monetary Fund (IMF). In November 2000, however, Turkey experienced a severe financial crisis, which deepened ...
Real wages, profit margins and inflation in Turkish manufacturing under post-liberalization
This article reports investigations into the behaviour of gross profit margins (mark-ups) in Turkish manufacturing industries for the post-1980 liberalization period in relation to price inflation, trade liberalization ...
Measuring exchange rate misalignment in Turkey
Turkey has embarked an extensive dis-inflation and stabilization program in December 1999. The programme exclusively relied on a nominally pegged (anchored) exchange rate system for dis-inflation and on fiscal austerity. ...
Macroeconomics of twin-targeting in Turkey: analytics of a financial computable general equilibrium model
The paper provides an overview of the post-1998 Turkish economy and constructs a macroeconomic computable general equilibrium (CGE) model to illustrate the real and financial sectoral adjustments of the Turkish economy ...