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Macroeconomic Policy and Unemployment by Economic Activity: Evidence from Turkey

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Author Info
M. Hakan Berument
Nukhet Dogan
Aysit Tansel

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Abstract

This paper investigates how various macroeconomic policy shocks in Turkey affect unemployment and provides evidence on the differential responses of unemployment in selected sectors of economic activity. Our paper extends previous work in two respects. First, we consider not only the response of total unemployment, but also the response of unemployment by selected sectors of economic activity. Second, we consider not only the effect of monetary policy shocks, but also the effects of several other macroeconomic shocks. The results indicate that unemployment in different sectors of economic activity responds differently to various macroeconomic policy shocks.

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Publisher Info
Article provided by M.E. Sharpe, Inc. in its journal Emerging Markets Finance and Trade.

Volume (Year): 45 (2009)
Issue (Month): 3 (May)
Pages: 21-34
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Handle: RePEc:mes:emfitr:v:45:y:2009:i:3:p:21-34

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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=111024

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Related research
Keywords: macroeconomic policy shocks; unemployment by economic activity;

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References listed on IDEAS
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  6. Athanasios Orphanides & John C. Williams, 2002. "Robust monetary policy rules with unknown natural rates," Working Papers in Applied Economic Theory 2003-01, Federal Reserve Bank of San Francisco. [Downloadable!]
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  7. Raffaele Paci & Francesco Pigliaru & M. Pugno, 2001. "Disparities In Economic Growth And Unemployment Across The European Regions: A Sectoral Perspective," Working Paper CRENoS 200103, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia. [Downloadable!]
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  12. Thomas F. Cooley & Gary D. Hansen, 1997. "Unanticipated money growth and the business cycle reconsidered," Proceedings, Federal Reserve Bank of Cleveland, issue Nov, pages 624-652.
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  13. Hakan Berument & M. Eray Yücel, 2005. "Return and Maturity Relationships for Treasury Auctions : Evidence from Turkey," Departmental Working Papers 0511, Bilkent University, Department of Economics. [Downloadable!]
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  14. Christiano, Lawrence J & Eichenbaum, Martin, 1995. "Liquidity Effects, Monetary Policy, and the Business Cycle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1113-36, November. [Downloadable!] (restricted)
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  22. Hakan Berument, 2003. "Public Sector Pricing Behavior and Inflation Risk Premium in Turkey," Eastern European Economics, M.E. Sharpe, Inc., vol. 41(1), pages 68-78, January. [Downloadable!] (restricted)
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  23. Berument, Hakan, 2007. "Measuring monetary policy for a small open economy: Turkey," Journal of Macroeconomics, Elsevier, vol. 29(2), pages 411-430, June. [Downloadable!] (restricted)
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  24. Lawrence J. Christiano & Martin Eichenbaum, 1991. "Identification and the Liquidity Effect of a Monetary Policy Shock," NBER Working Papers 3920, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  28. Hakan Berument & Nukhet Dogan & Aysit Tansel, 2005. "Economic Performance and Unemployment: Evidence from an Emerging Economy - Turkey," IZA Discussion Papers 1614, Institute for the Study of Labor (IZA). [Downloadable!]
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  34. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
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