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Reducing Macroeconomic Imbalances in Turkey
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Coşar, … - Economics Department, Organisation de Coopération et … - 2014
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process …
Persistent link: https://www.econbiz.de/10011277023
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Tackling Turkey's External and Domestic Macroeconomic Imbalances
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2012
Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis … healthier funding of the external gap. This Working Paper relates to the 2012 OECD Economic Survey of Turkey (www.oecd.org/eco/surveys/turkey … la Turquie, 2012 (www.oecd.org/eco/surveys/turkey). …
Persistent link: https://www.econbiz.de/10011277032
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International Liquidity, Financial Constraints and Private Investment in an Emerging Market Economy
Guncvadi, Oner - Volkswirtschaftliche Fakultät, … - 2008
This article examines whether or not the recent surge in the availability of international liquidity helps Turkey … financial resources after 2002 played a detrimental role in the recent recovery of private investment in Turkey. …
Persistent link: https://www.econbiz.de/10005790282
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ACTIVE AND PASSIVE SEIGNIORAGE REVENUES: THE CASE FOR TURKEY 1970-1997
Halicioglu, Ferda - EconWPA - 2005
This study is concerned with the components of the total seigniorage revenues that have been collected by the Turkish governments during the years 1970-1997. Traditionally, a government can increase the monetary base in order to finance its expenditures partially. This form of monetary finance...
Persistent link: https://www.econbiz.de/10005076728
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Fiscal, Monetary, and Financial Interactions in Dynamic General Equilibrium
Strulik, Holger - 2008
This paper proposes a model that links households and firms, as usual, by markets for factors and goods and, additionally, by a banking sector that channels households' funds to firms and eliminates idiosyncratic risk. In equilibrium, agency costs and tax benefits of corporate debt are...
Persistent link: https://www.econbiz.de/10012724032
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(Mis)Understanding a Banking Industry in Transition
Black, William K. - 2008
The U.S. financial system is, again, in crisis caused by huge numbers of defaults among subprime mortgage borrowers and mortgage derivatives; and, massive losses for the holders of new-fangled investments comprised of bundles of loans of varying risk, including many of those subprime mortgages....
Persistent link: https://www.econbiz.de/10012772466
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Real Interest Rate Persistence : Evidence and Implications
Neely, Christopher J. - 2008
The real interest rate plays a central role in many important financial and macroeconomic models, including the consumption-based asset pricing model, neoclassical growth model, and models of the monetary transmission mechanism. We selectively survey the empirical literature that examines the...
Persistent link: https://www.econbiz.de/10012771562
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Modeling financial instability
Asada, Toichiro - In: European Journal of Economics and Economic Policies: … 9 (2012) 2, pp. 215-232
In this paper, we reconsider Minsky's financial instability hypothesis from the point of view of mathematical macrodynamic modeling. We start from a simple prototype small scale model of private debt and income with fixed prices. This system is similar to the Lotka-Volterra predator-prey system,...
Persistent link: https://www.econbiz.de/10010854863
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"Economic Policy in India: For Economic Stimulus, or for Austerity and Volatility?"
Sen, Sunanda; DasGupta, Zico - Levy Economics Institute - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010862118
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Monetary and Fiscal Policy in Times of Crises: A New Keynesian Perspective in Continuous Time
Hayo, Bernd; Niehof, Britta - Volkswirtschaft Abteilung, Fachbereich … - 2014
To analyse the interdependence between monetary and fiscal policy during a financial crisis, we develop an open-economy DSGE model with monetary and fiscal policy as well as financial markets in a continuous-time framework based on stochastic differential equations. Monetary policy is modelled...
Persistent link: https://www.econbiz.de/10010941611