In this article we analyse empirically currency substitution and exchange rate pass-through in the Turkish Economy, where their ongoing presence could undermine the implementation of a successful monetary policy, especially in a flexible exchange rate regime. Even though a considerable time has...

We analyze the effects of credit and debit cards on the currency in circulation by using GMM estimation. Instead of using the data obtained by surveys, we use monthly data obtained by an interbank institution that keeps the statistics of all credit and debit cards usage of a small open economy,...

This article examines exchange rate pass-through into prices of internationally traded goods in the case of a small emerging open market economy such as Turkey. In this study, we provide empirical evidence on complete pass-through in export prices in Turkey using aggregate data on the...