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Effects of USD-Euro parity on a small open economy: evidence from Turkey
This study assesses the effect of USD-Euro parity on a small open economy where exports are predominantly denominated in Euros and imports are denominated in USD. Empirical evidence from Turkey suggests that a positive ...
The dynamics of a newly floating exchange rate: the Turkish case
In recent years, many emerging market economies have switched or are in the process of switching to a floating exchange rate regime. Most of these economies have a history of high inflation and a high level of foreign ...
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. ...
Effects of the real exchange rate on output and inflation: evidence from Turkey
(Wiley-Blackwell Publishing Ltd., 2003)
This paper assesses the effects of real depreciation on the economic performance of Turkey by considering quarterly data from 1987:I to 2001:III. The empirical evidence suggests that, contrary to classical wisdom, the real ...