The low level of global interest rates and the high liquidity resulting from the quantitative easing policies adopted by advanced countries in the wake of the global financial crisis of 2007–09 bolstered capital flows to emerging market economies. However, the uncertainties relating to the...

The last three decades have been marked by financial market globalisation and a higher degree of integration of emerging markets into the world economy. One distinct feature of this in integration has been a sharp increase in portfolio flows between advanced and emerging market countries. Since...

The interaction between fiscal and monetary policies evolves over time and differs from country to country. In this study, we first present the case of Turkey. During the 1990s, the country's fiscal deficits and public debt ballooned. Monetary policy was severely constrained by the resulting...

<Para ID="Par1">Strong branching is an effective branching technique that can significantly reduce the size of the branch-and-bound tree for solving mixed integer nonlinear programming (MINLP) problems. The focus of this paper is to demonstrate how to effectively use “discarded” information from strong...</para>

We analyze the global imbalances and the required adjustments for rebalancing in current accounts and real exchange rates. We set up a two-country two-sector model for the US- China with two asymmetries. First, we assume that the size of China initially is one third of the US but its size...

Global imbalances pose a serious question for academia and policy makers related to its formation, sustainability and correction. In this paper we analyze the required adjustments of exchange rates for rebalancing in current accounts. We set up a two-country two-sector model for the US-China...