An analysis of regime shifts in the Turkish economy
AbstractWe use a time-varying dynamic factor model with regime switching to construct and estimate the leading indicators of the currency crises in Turkey. After that, we analyze the business cycles of the Turkish economy, by using a three-state univariate Markov-switching model. Both models capture the observed dynamics of the Turkish economy over the period 1987-2002.
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Bibliographic InfoArticle provided by Elsevier in its journal Economic Modelling.
Volume (Year): 25 (2008)
Issue (Month): 5 (September)
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Web page: http://www.elsevier.com/locate/inca/30411
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