This paper tests the validity of the Fisher hypothesis, which establishes a positive relation between interest rates and expected inflation, for the G7 countries and 45 developing economies. For this purpose, we estimate a version of the GARCH specification of the hypothesis for all countries...

The empirical evidence suggests that openness decreases the effect of monetary policy on output, however the effect on prices is not statistically significant. In this study these predictions are tested over the open economy of Turkey for quarterly data from 1987:1 to 2001:1. This study assesses...

The effect of a shock in the foreign economic performance on the domestic economy is an attractive research area. It has consistently been found that this effect is non-negligible. However, the countries examined are mostly developed countries. In this study, the effects of a shock in foreign...

This article examines whether various macroeconomic policy shocks have different effects on overall unemployment rate and the unemployment rate by different levels of education in Turkey. These effects are assessed for total, male and female unemployment rates separately. To examine the...

Purpose – This article seeks to examine whether or not various macroeconomic policy shocks have different effects on overall unemployment and the unemployment by different levels of education in Turkey. These effects are assessed separately for male and female unemployment....

It is a well-established regularity that permanent oil price shocks do not have a permanent effect on the current account deficit. This requires that sub-components of the current account or trade balance will make the necessary adjustments to accommodate the higher energy bill of a country...

This paper investigates how macroeconomic policy shocks in Turkey affect the total unemployment and provides evidence on the differential responses of the unemployment by sectors of economic activity. Our paper extends the previous work in two respects. First, we consider not only the response...

This paper studies the sustainability of the Ottoman budget for the period from 1680 to 1747, during different sultanates and war eras. Moreover, we investigate whether the relationship between government revenues and expenditures changes in the period of culus. The empirical evidence gathered...