IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

The Comparison of the Recent Crises in Turkey in terms of Output Gap

  • Goksel, Turkmen
  • Ozturkler, Harun

The importance of output gap and its timely measure come from the fact that it can serve as a guide to macroeconomic policy design. The knowledge of the position of an economy in a cycle is invaluable information and it has an important role in formulation of monetary, fiscal, and income policies. In this paper, we measure potential GDP and output gap for the Turkish Economy for the period between 1998Q1 and 2011Q4, using production function approach. We analyze the crises and the boom periods in terms of output gap. We find that according to the length of downturn and recovery periods, the worst crisis is the 2001. However, when we compare the crises according to the magnitude, the biggest collapse occurs during 2008 crisis. After recovering from 2008 crisis, once again the actual real GDP remains higher than the potential GDP for 5 successive quarters. Moreover, in this period actual real GDP is back on its old trend suggesting that the recovery period is over for Turkey and the negative effects of 2008 global crisis are not permanent.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://mpra.ub.uni-muenchen.de/40806/1/MPRA_paper_40806.pdf
File Function: original version
Download Restriction: no

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 40806.

as
in new window

Length:
Date of creation: Jun 2012
Date of revision:
Handle: RePEc:pra:mprapa:40806
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de

More information through EDIRC

References listed on IDEAS
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.:

as in new window
  1. Jacques R. Artus, 1977. "Measures of Potential Output in Manufacturing for Eight Industrial Countries, 1955-78 (Estimation du potentiel de production relative au secteur manufacturier de huit pays industriels, 1955-78) (Medic," IMF Staff Papers, Palgrave Macmillan, vol. 24(1), pages 1-35, March.
  2. Douglas Gollin, 2001. "Getting Income Shares Right," Department of Economics Working Papers 2001-11, Department of Economics, Williams College.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:40806. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.