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The Internal and External Transfers of the Turkish Economy: A Financial Computable General Equilibrium Analysis

Author

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  • Tunc, Gul Ipek

    (Middle East Technical University)

Abstract

After 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.

Suggested Citation

  • Tunc, Gul Ipek, 2001. "The Internal and External Transfers of the Turkish Economy: A Financial Computable General Equilibrium Analysis," Economic Analysis and Policy, Elsevier, vol. 31(2), pages 139-159, September.
    • Handle: RePEc:eee:ecanpo:v:31:y:2001:i:2:p:139-159
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    More about this item

    Keywords

    Fund; Interest Rates; Interest; Monetary Policy; Monetary; Policy; Stabilization;
    All these keywords.

    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, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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