Turkey is the only founding member of the OECD that has not converged to the US in terms of per-capita GDP since 1950: its real GDP per capita is stuck at 20% of that of the US. At a proximate level, we show that Turkey's relative stagnation over the past 50 years is due to: (1) the relative...

This appendix details the derivation of a number of results reported in "The Equivalence of Wage and Price Staggering in Monetary Business Cycle Models," which appears in the Review of Economic Dynamics.