, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays …, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises … and redesigned its stabilization program to bring inflation down more gradually. This collection analyzes the nature of …

inflation targeting and aggressive use of forward guidance. In contrast to the predictions of conventional macroeconomic theory … inflation, which is consistent with the evidence. As Kuroda (2016) emphasizes, for an economy without a history of inflation … being anchored by a target, individuals need direct evidence that the central bank is capable of moving inflation to target …

inflation targeting and aggressive use of forward guidance. In contrast to the predictions of conventional macroeconomic theory … inflation, which is consistent with the evidence. As Kuroda (2016) emphasizes, for an economy without a history of inflation … being anchored by a target, individuals need direct evidence that the central bank is capable of moving inflation to target …