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...

This study investigates the empirical relationships between macroeconomic instability, capital accumulation and growth in Turkey over the period 1963-1999. We use recent time series econometric techniques, such as cointegration and impulse response analysis, to analyze empirical relationships...

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...

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...