Die Arbeit beschäftigt sich mit der Frage, ob Kompensationszahlungen an die Verlierer der Transformation zu einer Verminderung des Konfliktes zwischen ihnen und den Gewinnern führen können. Eine Lösung des Konfliktes ist essentiell für die Weiterführung des Reformprozesses in den...

The observation, analysis and forecasting of inflationary trends is of particular interest to all economic agents -not just to institutions with monetary policy tasks. Almost all central banks have specified a price target as the final goal of monetary policy, for example, and some central banks...

Die Beobachtung, Analyse und Prognose der Inflationsentwicklung ist nicht nur für Institutionen mit geldpolitischen Aufgaben, sondern für alle Wirtschaftsteilnehmer von besonderem Interesse. So haben fast alle Zentralbanken ein Preisziel als Endziel der Geldpolitik vorgegeben und einige...

We analyse the relationship between the debt to GDP ratio and real per capita GDP growth for the euro area members by distinguishing between periods of sustainable and non-sustainable debt. Thresholds are theory-based and depend on the macroeconomic framework. If the interest rate exceeds...

Three decades of Turkish experience with nonselective industrial policies (consistent with neoliberal policy) clearly demonstrates that structural transformation in Turkish economy could not be achieved. In this paper, we have three motivations. Our first motivation is to discuss overall...

The recent crisis has demonstrated that a financially open economy has many sources of vulnerability. Even when a country does its homework, it remains at the mercy of developments in external financial markets. So, one lesson is that policy needs to guard not just against domestic shocks, but...

This paper argues that the unprecedented acceleration of growth in the developing world in the new millennium in comparison with advanced economies is due not so much to improvements in underlying fundamentals as to exceptionally favourable global economic conditions, shaped mainly by...

In this paper we study the interactions and feedbacks between three categories of net capital flows and growth in the Turkish economy for the 1992:01-2009:01 period using frequency domain techniques. Our main spectral analysis tool is a new version of the causality test of Geweke (1982) and...