form a monetary union, the country with higher initial inflation will deffnitely experience an increase in its inequalities …. In the country with lower initial inflation, however, inequalities might go in either direction since the inflationary … effect of uniting its monetary policy with a high inflation country can dominate the reducing effect of vanished trade …

We provide Bayesian estimates of an empirical model of consumer price inflation for Turkey based on the hybrid New … real marginal costs does a better job in explaining consumer price inflation compared to alternative models which … incorporate real unit labor costs. On the other hand, estimations for services inflation point to the importance of real unit …

We explore the asymmetric behaviour of inflation around the target level for inflation-targeting emerging markets. The … could have a stronger bias towards overshooting rather than undershooting the inflation target. Consequently, the policy … response would be stronger once the inflation jumps above the target, compared to a negative deviation. Second rationale is the …

This paper has two main objectives. The first objective is to propose a new indicator of core inflation, which is … factor model with the subcomponents of CPI inflation to extract this new core indicator. The second objective is to evaluate … criteria designed to assess the informativeness and the predictive power of these series for the analysis of overall inflation …

rates of inflation if the two assets are highly substitutable under the baseline scenario. After the benchmark economy is … implies that, higher currency substitution is welfare enhancing for high inflation rates but not for moderate and low … inflation rates. In other words, currency substitution is not necessarily welfare enhancing. …

This study analyzes core inflation concept for Turkey from the perspective of design and evaluation. To our best … knowledge, this is the first study to evaluate the performance of the core inflation measures for Turkey. We first define and … calculate new core inflation indicators using the disaggregated price data for the time period of January 1994 to June 2007. The …