The paper investigates asymmetry in the slope of the aggregate supply curve in the face of aggregate demand shocks using annual data for ten countries of the Middle East. The evidence is contrasted to a sample of developing countries and a sample of more developed countries. The empirical...

Our purpose in this paper is to establish stylized facts of the Turkish macroeconomic adjustment using data from 1999 to date. We adopt a tradition al a-priori definition of business cycles as cyclical co-movements of economic variables such a public, private and construction investments, trade...