Erinc, Yeldan A.; Gunes, Kolsuz; Burcu, Unuvar - In: Review of Middle East Economics and Finance 10 (2014) 3, pp. 15-15
This paper studies the new monetary stance of the Central Bank of Republic of Turkey (CBRT) during the Great Recession. We note that characteristics of the post-1997 “Great Moderation” revealed interest rate smoothing as a valid policy option for the inflation targeting central banks....