We analyze the implications of the time inconsistency problem for the Turkish monetary policy in the last two decades. After deriving the restrictions that the Barro and Gordon model imposes on a time series model for inflation and output, we show that the time inconsistency problem can explain...

The poor performance of sticky-price models with rational expectations in explaining the inflationary inertia in the US economy constitutes the basis for sticky-price models of nearrational expectations in the recent literature. However, previous studies on inflationary inertia in Turkey not...

Bu calisma, Turkiye'nin 2001 krizi sonrasinda uyguladigi maliye politikasina butce harcamalari perspektifinden baktiktan sonra, 2016 ve sonrasinda beklenen dusuk buyume doneminde genisleyici bir maliye politikasinin ekonomik buyume uzerindeki etkilerini tartismaktadir. Calismanin son bolumunde...

This study comes up with a measure of the structural budget balance for the Turkish economy between 2006-2010 in order to assess fiscal stance and evaluate the sensitivity of the budget balance with respect to the business cycles. Calculating structural budget balance requires three steps:...