The Internal and External Transfers of the Turkish Economy: A Financial Computable General Equilibrium Analysis
AbstractAfter the introduction of 1980 stabilization program, both the internal and external transfer problems gained importance for the Turkish economy. This study analyses interactions between the real and financial sectors of the Turkish economy within the framework of a Financial Computable General Equilibrium model, based on 1990 data. In the model, real and financial sub-models are interrelated through various channels such as flow of funds, interest rate and monetary policy. One of the main conclusions to be drawn from the analyses is that in the case of fixed real wages the adverse effects of policy changes on the economy are much larger compared to the case of fixed nominal wages.
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Bibliographic InfoArticle provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).
Volume (Year): 31 (2001)
Issue (Month): 2 (September)
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Web page: http://www.journals.elsevier.com/economic-analysis-and-policy/
More information through EDIRC
Fund; Interest Rates; Interest; Monetary Policy; Monetary; Policy; Stabilization;
Find related papers by JEL classification:
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robinson, Sherman, 1991. "Macroeconomics, financial variables, and computable general equilibrium models," World Development, Elsevier, vol. 19(11), pages 1509-1525, November.
- Bourguignon, Francois & De Melo, Jaime & Suwa, Akiko, 1991. "Modeling the effects of adjustment programs on income distribution," World Development, Elsevier, vol. 19(11), pages 1527-1544, November.
- André Fargeix & Elisabeth Sadoulet, 1990. "A Financial Computable General Equilibrium Model for the Analysis of Ecuador's Stabilization Programs," OECD Development Centre Working Papers 10, OECD Publishing.
- Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
- François Bourguignon & William H. Branson & Jaime de Melo, 1989. "Macroeconomic Adjustment and Income Distribution: A Macro-Micro Simulation Model," OECD Development Centre Working Papers 1, OECD Publishing.
- Yeldan, A. Erinc, 1997. "Financial liberalization and fiscal repression in Turkey: Policy analysis in a CGE model with financial markets," Journal of Policy Modeling, Elsevier, vol. 19(1), pages 79-117, February.
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