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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 ...
The implicit reaction function of the Central Bank of the Republic of Turkey
Reviewing the implicit reaction function estimation under different specifications, it appears that the Central Bank of the Republic of Turkey (CBRT) responds to the lagged inflation rate rather than the forward one, M2Y ...
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. ...
Openness and the effectiveness of monetary policy: empirical evidence from Turkey
The empirical evidence suggests that openness decreases the effect of monetary policy on output, however the effect on prices is not statistically significant. In this study these predictions are tested over the open economy ...
The policy challenge with floating exchange rates: Turkey's recent experience
(Springer New York LLC, 2005)
This paper evaluates the developments in the Turkish economy in light of the Central Bank of Turkey's (CBT) policies during a recent period of floating exchange rate system (March 2001-July 2003). It is found that the CBT ...
Inflation and inflation uncertainty in the G-7 countries
(Elsevier BV, 2005)
This study examines the relationship between inflation and inflation uncertainty in the G-7 countries for the period from 1957 to 2001. The causality between the inflation and inflation uncertainty is tested by using the ...