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This paper estimates equilibrium rates of macroeconomic aggregates for small open economies. We simultaneously identify the transitory and permanent components of output, inflation, the interest rate and the exchange rate by means of a multivariate trend-cycle decomposition. Realizations of the...
Persistent link: https://www.econbiz.de/10010744339
This paper estimates equilibrium rates of macroeconomic aggregates for small open economies. We simultaneously identify the transitory and permanent components of output, inflation, the interest rate and the exchange rate by means of a multivariate trend-cycle decomposition. Realizations of the...
Persistent link: https://www.econbiz.de/10010939330
ist. Dazu wird das Produktionspotenzial im Rahmen einer Wachstumsbilanzierung unter Zuhilfenahme von strukturellen …
Persistent link: https://www.econbiz.de/10008472806
-have a significant impact on the level of real interest rates in Turkey. Importantly, fiscal policy variables are shown to … Turkey. …
Persistent link: https://www.econbiz.de/10005248241
The potential accession of Turkey to the EU, and the related adoption of the CAP by Turkey, is expected to influence … agricultural markets in both the EU and Turkey. The extent of the accession impacts depends on the one hand on the way the CAP will … be implemented in Turkey, while on the other hand impacts are expected to be also shaped by macroeconomic conditions …
Persistent link: https://www.econbiz.de/10009326487
in Turkey. We describe the structure and development of this sector from the year 1990 onwards, covering farms in primal … the coasts of Turkey, while the interior provinces are rather separated. In some cases price transmission only occurs when …
Persistent link: https://www.econbiz.de/10008597168
The doctrine of price level stabilization is one of the most important building blocks in modern macroeconomics. In 1920s and 1930s, Friedrich August von Hayek presented a theory that challenged this monetary-policy regime. Hayek stressed that attempts to stabilize the price level in the...
Persistent link: https://www.econbiz.de/10011207136
Three methodologies to estimate the natural interest rate, NIR, are implemented for the Colombian economy. Two methods are statistical filters and the third involves some economic theory. The first method is based on unobserved components decomposition of the real interest rate and explores the...
Persistent link: https://www.econbiz.de/10008692056
Three methodologies to estimate the natural interest rate, NIR, are implemented for the Colombian economy. Two methods are statistical filters and the third involves some economic theory. The first method is based on unobserved components decomposition of the real interest rate and explores the...
Persistent link: https://www.econbiz.de/10008692094
The goal of this paper is two-fold. Firstly, this paper shows that the natural rate of interest in a small open economy, with access to the world capital markets, is equal to the international real rate of interest. We show this property by using the infinitely-lived overlapping generations...
Persistent link: https://www.econbiz.de/10009293786