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Macroeconomic transitions and the transmission mechanism: Evidence from Turkey

Çatık, A. Nazif; Martin, Christopher - In: Economic Modelling 29 (2012) 4, pp. 1440-1449

-reform regime is characterized by high inflation, passive monetary policy and persistent responses to shocks. The post-reform regime … is characterized by low inflation, active and credible monetary policy and markedly less persistent responses to shocks …

Persistent link: https://www.econbiz.de/10011048778

A note on firm entry, markups and the business cycle

Cavallari, Lilia - In: Economic Modelling 35 (2013) C, pp. 528-535

This paper proposes a monetary model with firm entry as a means for alleviating the difficulties of real business cycle models in reproducing the smoothness and persistence of macroeconomic variables together with the volatility of profits and markups. Simulations show that my baseline model...

Persistent link: https://www.econbiz.de/10010719410

Monetary policy and credit cards: Evidence from a small open economy

Yilmazkuday, Hakan - In: Economic Modelling 28 (2011) 1, pp. 201-210

inflation rate has been mostly affected by exchange rate movements and inflation inertia. Credit card usage has an increasing … effect on inflation rates through time, requiring more policy emphasis on the credit channel through credit cards. When the … economy, independent of the level of inflation. …

Persistent link: https://www.econbiz.de/10010577125

Evaluating a vector of the Fed’s forecasts

Sinclair, Tara M.; Stekler, H.O.; Carnow, Warren - In: International Journal of Forecasting 31 (2015) 1, pp. 157-164

forecasts. Finally, we use the same methodology to determine whether the Fed’s forecasts of GDP growth, inflation, and …

Persistent link: https://www.econbiz.de/10011117240

A model of a heterodox exchange rate based stabilization

Aytac, Ozlem - In: Economic Modelling 46 (2015) C, pp. 100-117

This paper attempts to explain the ERBS syndrome in Turkey by appeal to weak credibility cum sticky prices. By developing a model specifically for the 2000–2001 heterodox ERBS program in Turkey, I also depart from the existing literature which has focused almost exclusively in Latin America....

Persistent link: https://www.econbiz.de/10011208957