This paper theoretically investigates optimal monetary policy regime for oil producing developing countries. We analyze credibility and reputation of the Central Bank and macroeconomic dynamics under alternative monetary policy regimes. We construct a detailed and realistic model that can be...

In the wake of the recent crisis many countries face problems caused by budget deficits. To be able to lower their budget deficits these governments should conduct their expenditures at the lowest possible prices. To achieve this objective many countries use auctions to administer government...

Our paper uses a new and comprehensive dataset to investigate the capital structure of non-financial firms in a major emerging market economy, Turkey. We study both statistical and economic significance of four types of leverage factors: Firm-specific, tax-related, industry specific,and...