Dedollarization in Turkey after decades of dollarization: a myth or reality?

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dc.citation.epage306en_US
dc.citation.issueNumber1en_US
dc.citation.spage292en_US
dc.citation.volumeNumber385en_US
dc.contributor.authorÖzcan, K. M.en_US
dc.contributor.authorUs, V.en_US
dc.date.accessioned2016-02-08T10:12:36Z
dc.date.available2016-02-08T10:12:36Z
dc.date.issued2007en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThe paper analyzes dollarization in the Turkish economy given the evidence on dedollarization signals. On conducting a Vector Autoregression (VAR) model, the empirical evidence suggests that dollarization has mostly been shaped by macroeconomic imbalances as measured by exchange rate depreciation volatility, inflation volatility and expectations. Furthermore, the generalized impulse response function (IRF) analysis, in addition to the analysis of variance decomposition (VDC) gives support to the notion that dollarization seems to sustain its persistent nature, thus hysteresis still prevails. Hence, unfavorable macroeconomic conditions apparently contribute to dollarization while dollarization itself contains inertia. Furthermore, dedollarization that presumably started after 2001 has lost headway after May 2006. Thus, it seems too early to conclude that dollarization changed its route to dedollarization. © 2007 Elsevier B.V. All rights reserved.en_US
dc.identifier.doi10.1016/j.physa.2007.06.018en_US
dc.identifier.eissn1873-2119
dc.identifier.issn0378-4371
dc.identifier.urihttp://hdl.handle.net/11693/23351
dc.language.isoEnglishen_US
dc.publisherElsevier BVen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.physa.2007.06.018en_US
dc.source.titlePhysica A : Statistical Mechanics and its Applicationsen_US
dc.subjectDedollarizationen_US
dc.subjectDollarizationen_US
dc.subjectHysteresisen_US
dc.subjectImpulse responseen_US
dc.subjectVARen_US
dc.subjectVariance decompositionen_US
dc.subjectHysteresisen_US
dc.subjectImpulse responseen_US
dc.subjectMathematical modelsen_US
dc.subjectRegression analysisen_US
dc.subjectVector Autoregression (VAR)en_US
dc.subjectEconomic analysisen_US
dc.titleDedollarization in Turkey after decades of dollarization: a myth or reality?en_US
dc.typeArticleen_US

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