Showing 1 - 10 of 196
This paper analyzes the implications of remittance fluctuations for various macroeconomic variables and Sudden Stops. The paper employs a quantitative two-sector model of a small open economy with financial frictions calibrated to Mexican and Turkish economies, two major recipients, whose...
Persistent link: https://www.econbiz.de/10012722749
This research evaluates the investments of rich oil and natural gas source owner and the most blooming country of the world - Azerbaijan’s investments in Turkey energy sector and its impacts on both these economies. After giving brief information about economy of Azerbaijan, the research...
Persistent link: https://www.econbiz.de/10014156594
In this paper we assess the present sustainability of Turkey's current account position using the framework provided by Milesi-Ferretti and Razin (1996) based on the ability-to-pay and willingness-to-lend model. This framework allows us to assess the structural features and macroeconomic policy...
Persistent link: https://www.econbiz.de/10011807189
We test for sustainability of Turkey's current account position between 1992 and 2007 using the intertemporal solvency model of Hakkio and Rush (1991) and Husted (1992). This approach examines the relationship between exports and imports+ (which include imports, net interest and unilateral...
Persistent link: https://www.econbiz.de/10011807191
The Turkish current account has been exploding in the last few years leading to concerns of a crisis. One of the primary factors identified in the rising deficits is the appreciating lira. In addition, income elasticity of exports and imports can also shed light on continuing trade deficits. In...
Persistent link: https://www.econbiz.de/10011807199
The paper examines misalignment of the Turkish lira between 1998 to 2008. Misalignment, specifically overvaluation has been linked to fixed exchange rate regimes. By studying the case of Turkey during this period which covers both a fixed and floating exchange rate regime, we contribute to the...
Persistent link: https://www.econbiz.de/10011111300
The paper examines misalignment of the Turkish lira between 1998 and 2011. We first estimate the equilibrium real exchange rate for Turkey, then compute misalignment and finally test for structural breaks in the misalignment series. Through our tests we find three structural regimes. Our results...
Persistent link: https://www.econbiz.de/10010827712
Twin deficit hypothesis mainly states that government budget deficits will cause trade deficits. However, this is not the only theoretically possible relationship between the budget deficit and the trade deficit. On the other extreme if Ricardian equivalence hypothesis holds it is also possible...
Persistent link: https://www.econbiz.de/10005731549
Since the start of the 1990s, several countries have abandoned fixed- but-adjustable exchange rate regimes. The tendency towards floating exchange rate regimes, or alternatively monetary unions, has given rise to a debate on the disappearance of pure currency crises, and the literature has...
Persistent link: https://www.econbiz.de/10005556609
We test for sustainability of Turkey’s current account position between 1992 and 2007 using the intertemporal solvency model of Hakkio and Rush (1991) and Husted (1992). This approach examines the relationship between exports and imports+ (which include imports, net interest and unilateral...
Persistent link: https://www.econbiz.de/10005558792