ALPER, Ahmet Murat - In: Journal of BRSA Banking and Financial Markets 5 (2011) 1, pp. 35-72
This paper aims to explain the sources of real exchange rate fluctuations in Turkey. For this purpose, a bivariate SVAR model with the rates of change in the real and in the nominal exchange rates as endogenous variables is specified, and two types of structural shocks are identified as real and...