Disinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey

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dc.creatorAgénor, Pierre-Richard
dc.creatorJensen, Henning Tarp
dc.creatorVerghis, Mathew
dc.creatorYeldan, Erinc
dc.date2012-06-22T19:21:17Z
dc.date2012-06-22T19:21:17Z
dc.date2006-01
dc.date.accessioned2026-07-01T01:24:02Z
dc.descriptionThis 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.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2006/01/6523042/disinflation-fiscal-sustainability-labor-market-adjustment-turkey
dc.identifierhttps://hdl.handle.net/10986/8829
dc.identifierhttps://doi.org/10.1596/1813-9450-3804
dc.identifier.urihttp://hdl.handle.net/123456789/417743
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 3804
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectADJUSTMENT PROGRAM
dc.subjectADVERSE EFFECT
dc.subjectADVERSE EFFECTS
dc.subjectAGGREGATE DEMAND
dc.subjectAGGREGATE SUPPLY
dc.subjectAGRICULTURE
dc.subjectAVERAGE WAGES
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANK DEPOSITS
dc.subjectBANK LENDING
dc.subjectBANK RESTRUCTURING
dc.subjectBANKING SECTOR
dc.subjectBARGAINING POWER
dc.subjectBOND MARKETS
dc.subjectBORROWING
dc.subjectBUDGET CONSTRAINT
dc.subjectBUDGET CONSTRAINTS
dc.subjectBUDGET DEFICITS
dc.subjectBUSINESS CYCLE
dc.subjectCAPITAL NEEDS
dc.subjectCENTRAL BANK
dc.subjectCOLLECTIVE AGREEMENTS
dc.subjectCOMMERCIAL BANKS
dc.subjectCORPORATE INCOME TAX
dc.subjectDEBT
dc.subjectDEBT SERVICE
dc.subjectDEFAULT RISK
dc.subjectDISINFLATION
dc.subjectDOMESTIC BORROWING
dc.subjectDOMESTIC INFLATION
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC PRICE
dc.subjectDOMESTIC PRICES
dc.subjectECONOMIC RESEARCH
dc.subjectELASTICITY
dc.subjectELASTICITY OF SUBSTITUTION
dc.subjectEMPLOYEE
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT LEVELS
dc.subjectEMPLOYMENT PROBABILITY
dc.subjectEMPLOYMENT PROTECTION RULES
dc.subjectEQUATIONS
dc.subjectEQUILIBRIUM
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXPECTED WAGE
dc.subjectEXPECTED WAGES
dc.subjectEXPORTS
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL SECTOR
dc.subjectFIRING COSTS
dc.subjectFISCAL ADJUSTMENT
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL MANAGEMENT
dc.subjectFISCAL POLICY
dc.subjectFISCAL REFORMS
dc.subjectFISCAL SUSTAINABILITY
dc.subjectFOREIGN BORROWING
dc.subjectGDP
dc.subjectGNP
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT SUBSIDIES
dc.subjectGROWTH RATE
dc.subjectINCOME
dc.subjectINCOME TAXES
dc.subjectINFLATION RATE
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMAL LABOR MARKET
dc.subjectINFORMAL SECTOR
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL MIGRATION
dc.subjectJOB SEARCH
dc.subjectJOB SECURITY
dc.subjectJOB TURNOVER
dc.subjectLABOR DEMAND
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE PARTICIPATION
dc.subjectLABOR LAWS
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET ADJUSTMENT
dc.subjectLABOR MARKET REGULATIONS
dc.subjectLABOR MARKET SEGMENTATION
dc.subjectLABOR MARKETS
dc.subjectLABOR MIGRATION
dc.subjectLABOR REGULATIONS
dc.subjectLABOR SUPPLY
dc.subjectLIQUIDITY
dc.subjectMARGINAL PRODUCT
dc.subjectMINIMUM WAGE
dc.subjectMINIMUM WAGE LAW
dc.subjectMONETARY POLICY
dc.subjectNOMINAL INTEREST RATE
dc.subjectOPEN UNEMPLOYMENT
dc.subjectPAYROLL TAX
dc.subjectPAYROLL TAXES
dc.subjectPRINCIPLE
dc.subjectPRIVATE FIRMS
dc.subjectPRIVATE GOODS
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR WAGE
dc.subjectPRIVATE SECTOR WAGES
dc.subjectPROBABILITY OF DEFAULT
dc.subjectPRODUCTION
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTION INPUTS
dc.subjectPRODUCTION SIDE
dc.subjectPRODUCTIVE SECTOR
dc.subjectPRODUCTIVITY
dc.subjectPROFIT MAXIMIZATION
dc.subjectPUBLIC
dc.subjectPUBLIC CAPITAL
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EMPLOYMENT
dc.subjectPUBLIC GOOD
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR BORROWING
dc.subjectPUBLIC SECTOR BORROWING REQUIREMENTS
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectPUBLIC SECTOR WAGES
dc.subjectPUBLIC SERVICES
dc.subjectPUBLIC TRANSPORTATION
dc.subjectPURCHASING POWER
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL GROWTH
dc.subjectREAL INTEREST RATE
dc.subjectREAL INTEREST RATES
dc.subjectREAL VARIABLES
dc.subjectREAL WAGE
dc.subjectREAL WAGES
dc.subjectRELATIVE PRICES
dc.subjectRETURNS TO SCALE
dc.subjectRISK PREMIUM
dc.subjectROADS
dc.subjectSAVINGS
dc.subjectSERVANTS
dc.subjectSEVERANCE PAYMENTS
dc.subjectSKILLED WORKER
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SECURITY CONTRIBUTIONS
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectSTRUCTURAL ADJUSTMENT
dc.subjectSUPPLY CURVE
dc.subjectTAX REFORM
dc.subjectTAX REVENUE
dc.subjectTEMPORARY WORKERS
dc.subjectTOTAL EMPLOYMENT
dc.subjectTRADE POLICY
dc.subjectTRADE UNIONS
dc.subjectTREASURY
dc.subjectTREASURY BILLS
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT BENEFIT
dc.subjectUNEMPLOYMENT INSURANCE
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNPAID FAMILY WORKERS
dc.subjectUNSKILLED LABOR
dc.subjectUNSKILLED WORKERS
dc.subjectURBAN ECONOMY
dc.subjectURBAN WORKERS
dc.subjectVALUE ADDED
dc.subjectVAR MODELS
dc.subjectWAGE BARGAINING
dc.subjectWAGE BILL
dc.subjectWAGE RATES
dc.subjectWAGE SET
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORKER
dc.subjectWORKING CAPITAL
dc.titleDisinflation, Fiscal Sustainability, and Labor Market Adjustment in Turkey

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