From 1989 to 2010, the RMB--dollar real exchange rate depreciated, despite China's rapid income growth relative to the US. We develop a macroeconomic-trade model of the very long-run equilibrium RMB-dollar real exchange rate. We show that this long-run depreciation of the RMB-dollar real...

This paper studies the impact of the industrialization of China on the U.S. industrial employment share between 1978 and 2005. A comparison of the predictions of open and closed economy models suggests that a common explanation of de-industrialization in the literature, which is based on...

[TR] Bu calisma, basit bir uretim fonksiyonunu temel alarak Turkiye icin bir cikti acigi gostergesi hesaplamaktadir. 2005-2008 doneminde cikti aciginda pozitif duzey olusmus ve 2007 : Q4 donemi tepe noktasi olarak gozlenmistir. 2009 yilinda ise son kuresel krizin etkisiyle uretim duzeyi,...

[EN] Consumption taxes are the most important source of revenues used to finance public spending in Turkey, where the share of taxes on consumption (general and specific) is more than 40%. This study computes the average effective tax rates on consumption for Turkish economy and provides a...

[EN] Turkey has the highest average annual growth rate of GDP (measured in constant local currency) and the fifth highest average annual growth rate of, purchasing power parity (PPP)-adjusted, per capita income among all the OECD countries between 2004 and 2012. This note studies the sources of...

Turkey has the lowest hours worked (the product of total employment and annual hours per worker, divided by the size of the working-age population) among the OECD countries. We study the changes in hours of work following Ohanian, Raffo, and Rogerson (Journal of Monetary Economics, 2008) and...

When examined in isolation, the 2002-2007 period in Turkey stands out as a high growth period. However, the relative performance of Turkey in this period is weaker compared to China. The service sector in Turkey had the lowest labor productivity growth rate. Counterfactual experiments based on a...

This study, without providing a complete picture of the country’s economic development, aims to bring about a better understanding of the convergence experience of Turkey. We explore some aspects of the convergence process of Turkey and provide some international comparisons tracking the...