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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 ...
Asymmetric effects of monetary policy shocks on economic performance: empirical evidence from Turkey
This study investigates the asymmetric effects of monetary policy shocks on the macroeconomic variables of exchange rate, output and inflation for an emerging economy ‒ Turkey ‒ by using monthly data between 1990 and 2014. ...
Total factor productivity and macroeconomic instability
Total factor productivity (TFP) is an important component of growth for most countries. This article assesses the role of macroeconomic instability on TFP growth. We consider volatility in inflation, openness of an economy ...
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 ...