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Globalization and flattening of Phillips Curve in Turkey between 1987 and 2007

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  • Çiçek, Serkan

Abstract

In the last two decades, there have been important changes in inflation dynamics in Turkey. While average inflation rate, inflation volatility and inflation persistence declined, the prices of tradable goods have shown an increase less than prices of non-tradable goods. The aim of this paper is to inquire whether the globalization has an effect on this change and to test whether and how it affected the slope of the Phillips Curve. The findings point out that global activity did have an effect on domestic inflation rate and that Phillips Curve got flatter.

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 29 (2012)
Issue (Month): 5 ()
Pages: 1655-1661

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Handle: RePEc:eee:ecmode:v:29:y:2012:i:5:p:1655-1661

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Web page: http://www.elsevier.com/locate/inca/30411

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Keywords: Monetary policy; Globalization; Phillips Curve; Turkish economy;

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References

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Cited by:
  1. Çiçek, Serkan & Akar, Cüneyt, 2013. "The asymmetry of inflation adjustment in Turkey," Economic Modelling, Elsevier, vol. 31(C), pages 104-118.

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