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      Effects of the real exchange rate on output and inflation: evidence from Turkey

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      Author(s)
      Berument, Hakan
      Pasaogullari, M.
      Date
      2003
      Source Title
      The Developing Economies
      Print ISSN
      0012-1533
      Electronic ISSN
      1746-1049
      Publisher
      Wiley-Blackwell Publishing Ltd.
      Volume
      41
      Issue
      4
      Pages
      401 - 435
      Language
      English
      Type
      Article
      Item Usage Stats
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      153
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      Abstract
      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 depreciations are contractionary, even when external factors like world interest rates, international trade, and capital flows are controlled. Moreover, the results obtained from the analyses indicate that real exchange rate depreciations are inflationary.
      Keywords
      Currency devaluation
      Currency market
      Inflation
      Interest rate
      Real exchange rate
      Eurasia
      Turkey
      Permalink
      http://hdl.handle.net/11693/24364
      Published Version (Please cite this version)
      https://doi.org/10.1111/j.1746-1049.2003.tb01009.x
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      • Department of Economics 697
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