endogeneity of money. Implicitly, the money supply process with regard to Turkish inflation is unpredictable with respect to the … past history of prices, i.e. either inflation or currency depreciation. Therefore, the Turkish monetary regime may be … persistently high inflationary process in Turkey. -- Demand for Money ; High Inflation ; Granger Causality ; Exogeneity of Money …

literature on inflation and money demand in transition economies. The results suggest that, after the one-time effects of the … 1997 crisis are taken into account, the long-run determinants of inflation and money demand remained unchanged. Strong … financial policies since mid-1997 appear to have helped to restore conditions for low inflation and stable money demand …

inflation volatility.Also, causality tests results indicate that changes in the exchangerate, output gap volatility, and output … gap will have permanent andtemporary causal effects on inflation volatility. The policymakersshould carefully consider … these results to implement appropriatepolicies to reduce inflation volatility. The finding that the shocks areof temporary …

reducing the average inflation rate while there was a strong recovery of the output. However, there are accumulated risks in …

This paper describes research comparing the response of inflation to changes in exchange rate competitiveness in … various regions of the world. The paper first presents evidence that an empirical relationship between the rate of inflation … possible to achieve low inflation and a high export competitiveness simultaneously. The paper then demonstrates that the …