We analyze the implications of the time inconsistency problem for the Turkish monetary policy in the last two decades. After deriving the restrictions that the Barro and Gordon model imposes on a time series model for inflation and output, we show that the time inconsistency problem can explain...

This paper explains wage differences by gender, wage and self employment in an urban setting in Turkey. Data employed is taken from the 1994 Household Income Survey of the State Institute of Statistics (SIS) of Turkey. The Oaxaca decomposition of the wages into discrimination and endowment...

This paper investigates the inflation dynamics in Turkey between 1988 and 2000. Using model-free techniques, the authors first observe that there is strong inertia in Turkish inflation. Next, they look at the correlations between Consumer Price Index (CPI) inflation and the leads and lags of the...