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Tackling Turkey's external and domestic macroeconomic imbalances

Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; … - 2012

Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis, with annual growth averaging close to 9% over 2010-11. However, the current account deficit widened to around 10% of GDP in 2011 and consumer price inflation rose to over 10%....

Persistent link: https://www.econbiz.de/10009690909

Implications of output gap uncertainty in times of crisis

Bouis, Romain; Cournède, Boris; Christensen, Ane Kathrine - 2012

This paper analyses the monetary and fiscal policy implications of output gap estimates in times of crisis. The … widening of output gaps observed in major OECD economies in the wake of the recent crisis has been mainly due to total factor … indicated by “positive” Taylor rules, output gaps influence policy-controlled interest rates and are in principle important …

Persistent link: https://www.econbiz.de/10009690945

Growth-promoting policies and macroeconomic stability

Sutherland, Douglas; Höller, Peter - 2013

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...

Persistent link: https://www.econbiz.de/10010231015

Reducing macroeconomic imbalances in Turkey

Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Erdoğan … - 2014

Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...

Persistent link: https://www.econbiz.de/10010464946