This study examines quarterly macroeconomic data in an attempt to reveal crises experienced in Turkey from 1998 to 2013 using an exchange market pressure model and analyze gross capital flows using a four-way decomposition analysis during. The results indicate that the exchange market pressure...

Data on monetary aggregates are subject to periodic redefinitions, presumably in part to improve their link to measures of output. Money data are also revised on a regular basis. Taking these data imperfections into account, we reassess the evidence on the marginal predictive content of M1 and...