Devalüasyon Ve J Eğrisi

Tanju Durusoy and Ibrahim Tokatlıoğlu
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Tanju Durusoy: Gazi University

Ekonomik Yaklasim, 1997, vol. 8, issue 24-25, 65-79

Date: 1997
Note: [English Title] DEVALUATION AND J-CURVE [English Abstract] For a country which faces permanent current account deficits, it is said that devaluation is an important alternative policy. In the Keynesian macroeconomics, implementing devaluation first worsens the current account. But, after the determined time lag depreciation of the currency leads to an improvement of the current account balance. This path which current account follows after the devaluation of currency, is named J-Curve. In this study, we used the Almon approach to distributed lag models utilizing the 1987–1995 quartely observation to see whether J-curve is valid for Turkey or not. It has been found that J-curve is valid in Turkey but ineffective because of at the and of the fact that exchange policy influences the current account one year. And one year is very long for Turkey. [English Keywords] Not available
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