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The Atkinson-Stiglitz Theorem states that if labor is weakly separable from goods in household utility functions, differential commodity taxation should not be not part of an optimal redistributive tax system. This Theorem, which is arguable the most policy-relevant result to come out of the...
Persistent link: https://www.econbiz.de/10011940630
This paper develops a set of leading indicators of industrial production growth and consumer price inflation for the … inflation. Our findings provide evidence on the factors determining real activity and inflation in a period of disinflation and …
Persistent link: https://www.econbiz.de/10010500195
This study aims to assess the gross domestic debt sustainability of Turkey through construction of a risk index …'s Risk Management Approach (2004). However, unlike most fiscal sustainability studies carried out for Turkey, our index is … uncertainty and finite horizon approach into the analysis of the fiscal sustainability of Turkey. A vector-autoregression (VAR …
Persistent link: https://www.econbiz.de/10010320469
This study examines the effects of fragmented governments and fiscal authorities on budget deficits in Turkey along … authorities in Turkey. The analysis has important policy implications for Turkey and other developing countries from the viewpoint …
Persistent link: https://www.econbiz.de/10010320592
This study examines the effects of fragmented governments and fiscal authorities on budget deficits in Turkey along … authorities in Turkey. The analysis has important policy implications for Turkey and other developing countries from the viewpoint …
Persistent link: https://www.econbiz.de/10010500175
policy to U.S. inflation over the December 2019-June 2022 period. Model calibrations show that aggregate demand shocks … explain roughly two-thirds of total model-based inflation, and that the fiscal stimulus contributed half or more of the total …
Persistent link: https://www.econbiz.de/10014302772
-side effects into account, we get more persistent inflation and output reactions.We also show that the dichotomy does not hold for … discretionary monetary policy, the fiscal policy regime affects the size of the inflation bias.We also show that commitment to an … optimal monetary policy not only corrects the inflation bias but also increases the persistence of output reactions …
Persistent link: https://www.econbiz.de/10012148897
, Hungary, Poland, Russia and Turkey from May 1998 to December 2007. To account for the importance of market expectations we use …
Persistent link: https://www.econbiz.de/10011605147
. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption …
Persistent link: https://www.econbiz.de/10010264571
Following Turkey’s application for EU membership in 1987, a Customs Union (CU) between Turkey and the EU, mainly … agricultural sector, Turkey also specializes in the production and exportation of relatively low-price, low-quality varieties of … asymmetric changes in the trade volumes of the incumbent countries of the EU as a result of the EU-Turkey CU. By examining …
Persistent link: https://www.econbiz.de/10010261340