Misaligned? Overvalued?. The Untold Story of the Turkish Lira

Deniz Atasoy · Sweta Saxena

24 citations0/0 files storedEmerging Markets Finance and Trade

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Global Financial Crisis and Policies Monetary Policy and Economic Impact Economic Theory and Policy

Abstract

Scholars agree that overvalued exchange rates result in currency crises. This paper estimates the equilibrium real exchange rate for Turkey, finding that the lira was indeed overvalued before the crises in 1994 and 2001. However, the actual real exchange rate is at present close to the equilibrium level, exposing the myth propagated by Turkish exporters that the lira's overvaluation is responsible for Turkey's uncompetitive exports. The paper also highlights the role for fiscal adjustment in macroeconomic stability.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 24 citations exist upstream.

References

1991Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models 1998Leading Indicators of Currency Crises 2000Low inflation, pass-through, and the pricing power of firms 1995Estimation of Common Long-Memory Components in Cointegrated Systems 1994Approximate Asymptotic Distribution Functions for Unit-Root and Cointegration Tests 1988Real and monetary determinants of real exchange rate behavior: Theory and evidence from developing countries 1998Inflation Stabilization and Bop Crises in Developing Countries 1999Chapter 24 Inflation stabilization and bop crises in developing countries

Cited by

2015Determinants of the Real Exchange Rate in Oil-Producing Countries of the Middle East and North Africa: A Panel Data Investigation

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.