This study assesses the effect of USD–Euro parity on a small open economy where exports are predominantly denominated in Euros and imports are denominated in USD. Empirical evidence from Turkey suggests that a positive change in the USD value of the Euro appreciates the local currency,...

Emerging market economies (EMEs) have experienced a noticeable decline in inflation since the mid-1990s. Whether this stable price environment in EMEs is likely to endure and what kind of policies need to be followed to ensure price stability, however, still continue to be questions of...

This study examines the dynamics and determinants of inflation in the Ottoman Empire during the 1586-1913 period. There are two possible reasons for inflation: fiscal expansion and monetary expansion, which could be generated through the debasement of local currency (Akce). We used a set of...

It is generally acknowledged that changes in oil prices affect economic welfare in ways that are not entirely reflected in transactions in the oil market. In this article, by using the 1990 input–output table, the inflationary effects of crude oil prices are investigated for Turkey. Under...

This study examines the dynamics and determinants of inflation in the Ottoman Empire during the 1586-1913 period. There might be two main reasons for inflation: fiscal expansion and monetary expansion where the monetary expansion could be generated through the debasement of local currency...

This study examines the dynamics and determinants of inflation in the Ottoman Empire during the 1586-1913 period. There might be two main reasons for inflation: fiscal expansion and monetary expansion where the monetary expansion could be generated through the debasement of local currency...