This paper conducts a quantitative investigation of the role of reserve requirements as a macroprudential policy tool. We build a monetary DSGE model with a banking sector in which (i) an agency problem between households and banks leads to endogenous capital constraints for banks in obtaining...

This study investigates quantitative properties of the transitional dynamics produced by gradual disinflation in a small open economy inhabited by heterogeneous consumers. The main exercise is to feed the empirically observed declining path for inflation into the calibrated model and account for...

We provide a theory on how a wider foreign lending base of local-currency sovereign debt may lead to destabilising effects (the original sin redux). Bond sell-offs by foreigners induce domestic banks to fund the government, reducing the credit for investment and tightening financial conditions....

This study undertakes a quantitative investigation of the distributional and welfare consequences of a sharp reduction in inflation in a small open economy. In the first chapter, a monetary model of a small open economy with uninsured idiosyncratic earnings risk is analyzed. In this model,...

Evidence shows that globally observed disinflation in the last two decades has been more predominant in emerging economies. This paper undertakes a quantitative investigation of the distributional and welfare consequences of a sharp reduction in inflation in a monetary model of a small open...

Evidence shows that globally observed disinflation in the last two decades has been more predominant in emerging economies. This paper undertakes a quantitative investigation of the distributional and welfare consequences of a sharp reduction in inflation in a monetary model of a small open...

[TR] Bu notta emek piyasasi dinamikleri hakkinda onemli ipuclari veren Beveridge egrisi, Turkiye ekonomisi ozelinde incelenmistir. Kuramsal cercevenin ozetlenmesinin ardindan yapilan ampirik analizde, 2005 : A1-2012 : A3 için Beveridge egrisinin emek ekonomisi kuramlari ile ortusur sekilde acik...

[TR] 2003-2011 doneminde Turkiye’nin ihracat cesitlenmesi hem urun hem de ulke bazinda artmistir. Bu notta, ihracat cesitlenmesi, bolgesel bazda sektor ve sektorel bazda ulke cesitlenmesi dikkate alinarak detaylandirilmistir. Elde edilen sonuçlar, makine ve ulastirma, demir celik, giyim ve...

This paper conducts a quantitative investigation of the role of reserve requirements as a macroprudential policy tool. We build a monetary DSGE model with a banking sector in which (i) an agency problem between households and banks leads to endogenous capital constraints for banks in obtaining...

This study investigates the distributional and welfare consequences of disinflation in emerging economies using a monetary model of a small open economy with uninsured idiosyncratic earnings risk. The model is calibrated to Turkish data and is used to compare stationary equilibria with quarterly...