Alper, Ahmet Murat; Civcir, İrfan - In: Journal of Policy Modeling 34 (2012) 1, pp. 112-131
This paper estimates the equilibrium real exchange rate of the Turkish lira to evaluate whether or not the overvaluation results in currency crisis and low growth rate over the period from the first quarter of 1987 to the fourth quarter of 2010. We follow the behavioral equilibrium exchange rate...