This paper investigates the relationship between a country's political-economic and institutional environment, and its ability to implement sustainable economic reform programs. The policy issue on which the study focuses is inflation stabilization. It consists principally of econometric...

This paper uses a computable general equilibrium model of Turkey to explore the empirical effect on adjustment to various macroeconomic shocks of a variety of "structuralist" rigidities. Four types of rigidities are considered: exchange rate rigidity leading to premium rationing and rent...