In this paper we assess the present sustainability of Turkey’s current account position using the framework provided by Milesi-Ferretti and Razin (1996) based on the ability-to-pay and willingness-to-lend model. This framework allows us to assess the structural features and macroeconomic...

This paper examines current account sustainability of eight countries in the Economic Community of Western African States (ECOWAS); Burkina Faso, Côte d'Ivoire, Ghana, Mali, Niger, Nigeria, Sénégal and Togo. The paper uses the intertemporal solvency framework of Hakkio and Rush (1991) and...

The paper examines misalignment of the Turkish lira between 1998 and 2011. We first estimate the equilibrium real exchange rate for Turkey, then compute misalignment and finally test for structural breaks in the misalignment series. Through our tests we find three structural regimes. Our results...

The paper examines misalignment of the Turkish lira between 1998 to 2008. Misalignment, specifically overvaluation has been linked to fixed exchange rate regimes. By studying the case of Turkey during this period which covers both a fixed and floating exchange rate regime, we contribute to the...

This volume consists of papers presented at Second Coonference in Economics co-organized by Izmir Univeristy of Economics and the State University of New York at Cortland on June 8-9, 2007 in Cortland, New York. The theme of the conference is "Globalization and Its Discontents". Papers presented...