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A Macroeconometric Model of Turkey: Impact of Exchange Rate Shocks Under a High International Borrowing

Durmus Ozdemir and Mustafa Kemal Gündoğdu

No 9803, EcoMod2016 from EcoMod

Abstract: This paper examines the Marshall–Lerner condition under the simultaneity of exports and import flows in the Turkish economy. Due to the high interdependence between ratios of export and import flows to GDP, the traditional version of the Marshall–Lerner condition is not sustained. In the case of Turkey, the long-term estimations of the price elasticities of exports and imports, and the respective cross elasticities, lead us to conclude that currency devaluation would, in the long run, improve the balance of trade. Macroeconometric modeling Currency devaluation improve the the balance of trade in Turkish economy

Keywords: Turkey; Macroeconometric modeling; Growth (search for similar items in EconPapers)
Date: 2016-07-04
New Economics Papers: this item is included in nep-ara, nep-cwa and nep-mac
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