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A Short Review of the Long History of Turkish High Inflation

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Author Info
Aykut Kibritcioglu (Ankara University)

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Abstract

After experiencing high and persistent inflation for more than two decades, Turkey is entering a period of single-digit inflation again. Following a summary of the macroeconomic developments occurred since early 1970s, this paper attempts to survey the empirical literature both on the dynamics of chronic inflation and on the possible effects of disinflation in Turkey.

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File URL: http://129.3.20.41/eps/mac/papers/0404/0404003.pdf
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Publisher Info
Paper provided by EconWPA in its series Macroeconomics with number 0404003.

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Length: 27 pages
Date of creation: 05 Apr 2004
Date of revision:
Handle: RePEc:wpa:wuwpma:0404003

Note: Type of Document - pdf; pages: 27
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Web page: http://129.3.20.41

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Related research
Keywords: High inflation causes of inflation inertia exchange rates disinflation stabilization policies Turkish economy

Other versions of this item:

Find related papers by JEL classification:
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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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.:
  1. McCallum, Bennett T., 1990. "Inflation: Theory and evidence," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 18, pages 963-1012 Elsevier. [Downloadable!] (restricted)
    Other versions:
  2. Guillermo A. Calvo & Carlos A. Vegh, 1999. "Inflation Stabilization and BOP Crises in Developing Countries," NBER Working Papers 6925, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Togan, Subidey, 1987. "The Influence of Money and the Rate of Interest on the Rate of Inflation in a Financially Repressed Economy: The Case of Turkey," Applied Economics, Taylor and Francis Journals, vol. 19(12), pages 1585-1601, December.
  4. Erol, Turan & Van Wijnbergen, Sweder, 1997. "Real exchange rate targeting and inflation in Turkey: An empirical analysis with policy credibility," World Development, Elsevier, vol. 25(10), pages 1717-1730, October. [Downloadable!] (restricted)
  5. Runchana Pongsaparn, 2002. "Inflation Dynamics and Reaction Function in High-inflation Environment : An Implication for Turkey," Working Papers 0210, Research and Monetary Policy Department, Central Bank of the Republic of Turkey. [Downloadable!]
  6. Daniel Leigh & Marco Rossi, 2002. "Exchange Rate Pass-Through in Turkey," IMF Working Papers 02/204, International Monetary Fund. [Downloadable!]
  7. Selcuk, Faruk, 1994. "Currency Substitution in Turkey," Applied Economics, Taylor and Francis Journals, vol. 26(5), pages 509-18, May.
  8. G. C. Lim & Laura Papi, 1997. "An Econometric Analysis of the Determinants of Inflation in Turkey," IMF Working Papers 97/170, International Monetary Fund.
  9. Kenneth S. Rogoff, 2003. "Globalization and global disinflation," Proceedings, Federal Reserve Bank of Kansas City, pages 77-112. [Downloadable!]
  10. Metin, Kivilcim, 1998. "The Relationship between Inflation and the Budget Deficit in Turkey," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(4), pages 412-22, October.
  11. Selcuk, Faruk, 1997. "GMM Estimation of Currency Substitution in a High-Inflation Economy: Evidence from Turkey," Applied Economics Letters, Taylor and Francis Journals, vol. 4(4), pages 225-27, April. [Downloadable!] (restricted)
  12. Oya Celasun & Gaston R. Gelos & Alessandro Prati, 2003. "Would "Cold Turkey" Work in Turkey?," IMF Working Papers 03/49, International Monetary Fund. [Downloadable!]
  13. De Santis, R., 1993. "An Error Correction Monetary Model Explaining the Inflationary Process in Turkey," The Warwick Economics Research Paper Series (TWERPS) 418, University of Warwick, Department of Economics.
  14. Akcay, O. Cevdet & Alper, C. Emre & Karasulu, Meral, 1997. "Currency substitution and exchange rate instability: The Turkish case," European Economic Review, Elsevier, vol. 41(3-5), pages 827-835, April. [Downloadable!] (restricted)
  15. Erinç Yeldan & Ümit Cizre-Sakallýoðlu, 1999. "Dynamics of Macroeconomic Disequilibrium and Inflation in Turkey : The State, Politics, and the Marketsunder a Globalized Developing Economy," Departmental Working Papers 9910, Bilkent University, Department of Economics. [Downloadable!]
  16. Thomas M. Humphrey, 1998. "Historical origins of the cost-push fallacy," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 53-74. [Downloadable!]
  17. Metin, Kivilcim, 1995. "An Integrated Analysis of Turkish Inflation," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(4), pages 513-31, November.
  18. Alexander W. Hoffmaister & Pierre-Richard Agénor, 1997. "Money, Wages and Inflation in Middle-Income Developing Countries," IMF Working Papers 97/174, International Monetary Fund.
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