Especially, after the 2000s, many developing countries let exchange rates float and began implementing inflation targeting regimes based on mainly manipulation of expectations and aggregate demand. However, most developing countries implementing inflation targeting regimes experienced...

Especially, after the 2000s, many developing countries let exchange rates float and began implementing inflation targeting regimes based on mainly manipulation of expectations and aggregate demand. However, most developing countries implementing inflation targeting regimes experienced...

This Working Paper studies how the interest rate policy of the Central Bank of the Republic of Turkey (CBRT) has evolved under the post-financial liberalization and deregulation era. Utilizing econometric methods on a generalized form of a Taylor Rule the authors search for the possible...

Cömert investigates the relationship between overnight interest rates and the long-term rates in the US from 1983q1 to 2007q3. He presents evidence supporting the argument that there was a gradual decoupling between the Fed interest rate and long-term interest rates even before the recent...

Doviz kuru ortuk bir politika araci olarak enflasyon hedeflemesi uygulayan gelismekte olan ulkelerde kullanilmis olabilir mi? Bu makale bu soruyu cevaplamak ve enflasyonun belirleyicilerini incelemek icin ornek olarak Turkiye’nin 2002-2008 arasindaki enflasyon hedeflemesi deneyimini...

2008 krizinde Turkiye gibi bazi gelismekte olan ekonomiler ciddi manada sarsilsalar bile genel itibariyle gelismekte olan ulkeler krizi gelismis ulkelerden daha az zararla atlatmislardir. Gelismekte olan ulkelerin hemen hemen hic birisi finansal bir cokus yasamamistir. Turkiye gibi gelismekte...

2008 krizinde Türkiye gibi bazý geliþmekte olan ekonomiler ciddi manada sarsýlsalar bile genel itibariyle geliþmekte olan ülkeler krizi geliþmiþ ülkelerden daha az zararla atlatmýþlardýr. Geliþmekte olan ülkelerin hemen hemen hiç birisi finansal bir çöküþ yaþamamýþtýr....

In the wake of the financial crisis of 2008, there has been increasing debate over the appropriate role of central banks in mitigating economic disaster. This timely volume combines detailed historical and econometric analyses to explore the profound changes that occurred within the US financial...

This paper presents a theoretical model of consumption behavior that synthesizes the seminal contributions of Keynes (1936), Friedman (1956) and Duesenberry (1948). The model is labeled a “relative permanent income” theory of consumption. The key feature is that the share of permanent income...