This paper tests the effects of the global crisis on the structure of the Turkish banking sector using bank-level data during 2002Q4-2013Q3 period and employing random effects model. The selected dependent variables are financial ratios on capital adequacy, asset quality, liquidity,...

Although previous studies on currency substitution in Turkey confirm the existence of currency substitution, these works ignore whether this process reached an irreversible stage or not. This paper analyzes the persistence of currency substitution in Turkey through inclusion of a ratchet...

This study analyses monetary transmission mechanism in Turkey using a small structural macroeconomic model. The core equations of the model consist of aggregate demand, wage-price setting, uncovered interest rate parity, foreign sector and a monetary policy rule. The aim of the paper is to...

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 near-rational expectations in the recent literature. However, previous studies on inflationary inertia in Turkey not...

The paper analyzes dollarization in the Turkish economy given the evidence on dedollarization signals. On conducting a Vector Autoregression (VAR) model, the empirical evidence suggests that dollarization has mostly been shaped by macroeconomic imbalances as measured by exchange rate...

This paper estimates NAIRU (Non-Accelerating Inflation Rate of Unemployment) for the Turkish economy by systems approach, which includes an Okun-type relationship between output gap and unemployment gap, a Phillips curve equation, stochastic laws of motion for NAIRU and potential output and...

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...

Yükselen piyasa ekonomilerinde ve hatta gelişmiş ülkelerde, ekonominin ve istihdamın, özellikle, 1970’lerden itibaren giderek daha yoğun biçimde kayıtdışılığa kaydığı dikkati çeken bir unsurdur. Ancak, kayıtdışı ekonomi, gerek Türkiye ekonomisi ve gerekse diğer ülke...