particular, we find that commodity price shocks explain a large share of cyclical movements in inflation. Neutral technology …

gap and inflation for the Turkish economy using data from 2002:01 to 2021:09. First, it analyses the cointegration by …. The results also show asymmetric causality running from positive (negative) output gap to positive (negative) inflation … shock, and running from negative inflation shock to negative output gap shock. The overall findings indicate the importance …

across the sample. Evidence in favour of a diminishing effect of oil price shocks on the output and inflation is found from … in the last part of the 1990s and, especially, for the CPI inflation in the 2000s. The most outstanding result is that … the oil price movements could explain at least some of the recent inflation, the main difference between these outcomes …

model in which endogenous regime switches are triggered by the inflation rate. The model separates a high from a low … inflation regime with both regimes being strongly persistent. Generalized impulse response functions highlight important across …-regime differences in the responses of the economy to monetary policy and inflation shocks. Simulating both regimes with individual …

containing information on real economic activity, inflation, interest rates and Divisia monetary aggregates produces the most …