We seek to demonstrate the variations in the exchange rate pass-through (ERPT) and identify the shift in the price-setting behavior by placing the emphasis on the implemented exchange rate and monetary policy regimes. Having a history of several distinct monetary regimes, Turkey exhibits a...

Several studies including Blanchard (2004) and Favero and Giavazzi (2004) imply that in emerging market economies, a tight monetary policy within an inflation-targeting framework could actually increase the price level due to the lack of fiscal discipline and the associated high risk premium. We...

The recent fluctuations in the oil prices have intensified the discussion on the dynamics and causes of real oil price changes. While the long-run component of real oil prices seems to have a stochastic trend, global real economic activity has been thought to generate important changes in real...

Although there has been an increasing number of studies about the effects of oil prices on the macroeconomic performances, the literature on the interaction between oil prices and current account is limited, especially for oil importing developing countries. This paper analyzes the impact of oil...

Employing a state space model, we find for the United States economy that potential output growth rate can deviate from its steady state level for substantially long periods.

Bu çalýþmada, eðitim ve saðlýk politikalarýnýn ve bu alanlarda yapýlan harcamalarýn tasarruf eðilimleri üzerindeki etkisi araþtýrýlmaktadýr. Burada kaynak olarak gösterilen uygulamalý ve kuramsal çalýþmalar, eðitim ve saðlýk harcamalarýnýn tasarruflarý...

The differing dynamics of the inflations of the services and goods sectors has been of major concern in Turkey. The persistence of the services sector inflation during disinflation periods hampered the efforts of the Central Bank of Turkey of hitting inflation targets in a country with...