Disinflation, fiscal sustainability, and labor market adjustment in Turkey
By: Pierre-Richard Agenor ... [et al.].
Contributors: Agenor, Pierre-Richard.; World Bank.
Series: Policy research working paper -- 3804; Policy research working papers (Online) -- 3804.
Publisher: World Bank
Published: 2006
Place of publication: [Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Inflation (Finance) -- Turkey; Fiscal policy -- Turkey; Labor market -- Turkey
Description: "This paper analyzes the effects of monetary policy and fiscal adjustment on output and unemployment in Turkey.  The model on which the analysis is based accounts for rural-urban migration, a large urban informal sector, flexible exchange rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and inflation expectations.  The short- and long-run effects of a rise in official interest rates and tax increases are analyzed.  The results highlight the importance of accounting for the link between default risk and credibility in understanding the real and financial effects of macroeconomic adjustment. "--World Bank web site.
Notes: Title from PDF file as viewed on 1/10/2006.

Includes bibliographical references.

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