A Erinç Yeldan
Biographic Data
| ID | 457151 |
|---|---|
| NAME | A Erinç Yeldan |
| GIVEN NAMES | A Erinç |
| FAMILY NAME | Yeldan |
| SIGNATURE | YELDAN A E |
| AFFILIATIONS | Bilkent University |
| ORCID | 0000-0002-3123-4374 |
| VERIFIED | Yes |
| TOTAL WORKS | 25 |
| TOTAL CITATIONS | 106 |
| WORKS AS AUTHOR | 24 |
| WORKS AS EDITOR | 1 |
| FIRST PUBLICATION YEAR | 1994 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 5 |
A Two-Household Stock-Flow Consistent Model of the UK Economy
We present a two-household stock-flow consistent (SFC) model of the UK economy using data from the Office for National Statistics (ONS). The model explores the dynamics of the recent inflation episode, focusing on the interplay between inflation and income inequality through the theoretical lens of income conflict. It comprises seven sectors: households (disaggregated into rentiers and workers), non-financial corporations, monetary financial inst…
Macroeconomics of greening Turkish agriculture
With the aid of an applied general equilibrium model, we study the macroeconomic effects of various policy alternatives to stimulate the implications of the greening of Turkish agriculture. Our results suggest that the reduction in chemicals, including synthetic fertilizers, and fossil oil combustion at alternative rates of 30% and 50% would significantly reduce carbon emissions, but at the expense of adverse effects on agricultural output. In re…
Beyond the quest for a technological holy grail
Utilizing data on household consumption expenditure patterns and sectorial greenhouse gas emissions, we study the extent of inequality over Turkish households’ differentiated carbon footprint incidences. We harmonize the household budget survey data of the Turkish Statistical Institute (TURKSTAT) with production-based gas emissions data from EXIOBASE3 and investigate both the direct and indirect emissions across household-level income strata. Our…
Green central banking under high inflation—more of a need than an option
Poverty and income distribution incidence of the Covid-19 outbreak
To counterbalance the deep systemic global crisis triggered by the COVID-19, many countries introduced a vast arsenal of fiscal policy instruments coupled with monetary accommodation. Yet, Turkey’s response had almost exclusively relied on credit expansion and loan guarantees while minimizing the role of fiscal policy. Within that context, this article has three interrelated objectives. Firstly, we evaluate the effects of the crisis and the imple…
Turkey
The aim of this paper is to present the key challenges and structural constraints as well as potential strategies toward de-carbonization and the green transformation in Turkey, and to argue that the current mode of global finance in many ways conspires to constrain Turkey's quest for a sustainable and green industrial policy. I consider Turkey's conundrum against the backdrop of its speculation-led growth patterns and ongoing fossil fuel-based p…
Turkey in Turbulence
While global monetary tightening by central banks, led by the US Federal Reserve, has heightened concerns about a slowdown in the world's economy and an increased likelihood of debt crises across developing countries, Turkey has attracted attention for doing the opposite. Indeed, the country's economic policy makers have intensified monetary easing towards credit expansion at the risk of increased exchange rate instability. This article analyses …
Potential effects of the EU’s carbon border adjustment mechanism on the Turkish economy
The Re-making of the Turkish Crisis
By the end of 2018 Turkey had entered a new economic crisis and a lengthy recession period. In contrast to the previous financial crises of 1994, 2001 and 2009, when the economy shrank abruptly with a spectacular collapse of asset values and a severe contraction of output, the 2018 economic crisis was characterized by a prolonged recession with persistent low (negative) rates of growth, dwindling investment performance, debt repayment problems, s…
The economics of climate change action in Turkey
An abstract is not available for this content. As you have access to this content, full HTML content is provided on this page. A PDF of this content is also available in through the 'Save PDF' action button
Interest Rate Smoothing and Macroeconomic Instability under Post—Capital Account Liberalization Turkey
This paper considers the interest rate policy of the Central Bank of the Republic of Turkey (CBRT) in the post-financial liberalization and deregulation era. We find that (1) the Bank's interest rate smoothing tendency is the main determinant of its monetary policy in this period, (2) the CBRT does not seem to be responsive to the developments in real economy (output), and (3) although inflation targeting central banks are not supposed to pay att…
Beyond Inflation Targeting
This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as employment creation, poverty reduction and sustainable development.
The Turkish encounter with neo-liberalism
Turkey initiated an extensive dis-inflation program in December 1999 backed and supervised by The International Monetary Fund (IMF). The program aimed at decreasing the inflation rate to a single digit by the end of 2002. It exclusively relied on a nominally pegged (anchored) exchange rate system for dis-inflation and on fiscal prudence. In February 2001, however, Turkey experienced a very severe financial crisis, which deepened and continued to-…
On the Structural Weaknesses of the post-1999 Turkish Disinflation Program
In December 1999, Turkey initiated an extensive disinflation program backed and supervised by the International Monetary Fund (IMF). In November 2000, however, Turkey experienced a severe financial crisis, which deepened and has continued to date. This contribution highlights the structural weaknesses of the exchange rate-backed disinflation program as manifested in its liquidity creation mechanism in a small and fragile financial system such as …
Patterns of Financial Capital Flows and Accumulation in the Post-1990 Turkish Economy
The purpose of this paper is twofold: using time series econometrics, we first investigate the determinants of short-term foreign capital inflows for Turkey following its capital account liberalization in 1989. We next investigate the changing nature of the private investment function under post-capital account liberalization and deduce hypotheses on its correlation with capital inflows and the key macroeconomic prices, such as the exchange rate,…
Introduction
Dynamics of Macroeconomic Adjustment in a Globalized Developing Economy
(2001). Dynamics of Macroeconomic Adjustment in a Globalized Developing Economy: Growth, Accumulation and Distribution, Turkey 1969–1999. Canadian Journal of Development Studies / Revue canadienne d'études du développement: Vol. 22, No. 1, pp. 219-253
The Minimal Conditions for a Financial Crisis
Politics, Society and Financial Liberalization
This article focuses on the political economy of Turkey in the 1990s to illustrate the importance of analysing economic variables that intersect with the quality of political democracy. In 1989, the debt-ridden state moved to systematically and completely deregulate Turkey's financial markets. Together with the ongoing processes of liberalizing commodity markets and integrating with global capital markets, financial liberalization was expected to…
Strategic policies and growth
Fiscal Debt Management, Accumulation and Transitional Dynamics in a CGE Model for Turkey
We use a dynamic general equilibrium model based on intertemporally optimizing agents to study alternative debt management policies for the Turkish economy. The model is based on the neoclassical growth theory in its adjustment to steady state dynamics, and on Walrasian general equilibrium theory of a small open economy in attaining equilibrium in its commodity and factor markets. Key features of the model are its explicit recognition of the dist…
Turkish Economy in the 1990s
Turkey entered the 1990s under conditions of a truly “open economy”–a macroeconomic environment where its capital account was completely liberalized and the process of financial de-regulation was completed. In this setting, many of the instruments of macro and fiscal control have changed in nature, as the constraints of macro equilibrium have undergone major structural change.In the early 1990s, the domestic economy witnessed a massive inflow of …
Dilemmas of structural adjustment and environmental policies under instability
The Rural Economy Under Structural Adjustment and Financial Liberalization
The Macro-Integrated Agricultural-Sector modeling approach is introduced to analyze the economic effects of the post-1980 Turkish structural adjustment reform on the agricultural economy. The distinguishing feature of the model is its capability in addressing simultaneously the real and financial macro aggregates and the micro-sectoral detail of agriculture in a consistent fashion. The modeling analysis discloses that the Turkish mode of adjustme…
Distributional Dynamics in Turkey under “Structural Adjustment” of the 1980s
The economic and political crisis which Turkey faced during 1977-1980 was resolved by an orthodox stabilization program adopted early in 1980, immediately followed by conventional structural adjustment measures and the military coup realized on September of the same year. The Turkish experience with orthodox stabilization and structural adjustment incorporates a number of specificities and it will be useful to recall them briefly.First of all, th…
The Turkish encounter with neo-liberalism
Turkey initiated an extensive dis-inflation program in December 1999 backed and supervised by The International Monetary Fund (IMF). The program aimed at decreasing the inflation rate to a single digit by the end of 2002. It exclusively relied on a nominally pegged (anchored) exchange rate system for dis-inflation and on fiscal prudence. In February 2001, however, Turkey experienced a very severe financial crisis, which deepened and continued to-…
Politics, Society and Financial Liberalization
This article focuses on the political economy of Turkey in the 1990s to illustrate the importance of analysing economic variables that intersect with the quality of political democracy. In 1989, the debt-ridden state moved to systematically and completely deregulate Turkey's financial markets. Together with the ongoing processes of liberalizing commodity markets and integrating with global capital markets, financial liberalization was expected to…
Dilemmas of structural adjustment and environmental policies under instability
The Re-making of the Turkish Crisis
By the end of 2018 Turkey had entered a new economic crisis and a lengthy recession period. In contrast to the previous financial crises of 1994, 2001 and 2009, when the economy shrank abruptly with a spectacular collapse of asset values and a severe contraction of output, the 2018 economic crisis was characterized by a prolonged recession with persistent low (negative) rates of growth, dwindling investment performance, debt repayment problems, s…
Distributional Dynamics in Turkey under “Structural Adjustment” of the 1980s
The economic and political crisis which Turkey faced during 1977-1980 was resolved by an orthodox stabilization program adopted early in 1980, immediately followed by conventional structural adjustment measures and the military coup realized on September of the same year. The Turkish experience with orthodox stabilization and structural adjustment incorporates a number of specificities and it will be useful to recall them briefly.First of all, th…
The Minimal Conditions for a Financial Crisis
Turkey
The aim of this paper is to present the key challenges and structural constraints as well as potential strategies toward de-carbonization and the green transformation in Turkey, and to argue that the current mode of global finance in many ways conspires to constrain Turkey's quest for a sustainable and green industrial policy. I consider Turkey's conundrum against the backdrop of its speculation-led growth patterns and ongoing fossil fuel-based p…
Turkish Economy in the 1990s
Turkey entered the 1990s under conditions of a truly “open economy”–a macroeconomic environment where its capital account was completely liberalized and the process of financial de-regulation was completed. In this setting, many of the instruments of macro and fiscal control have changed in nature, as the constraints of macro equilibrium have undergone major structural change.In the early 1990s, the domestic economy witnessed a massive inflow of …
The economics of climate change action in Turkey
An abstract is not available for this content. As you have access to this content, full HTML content is provided on this page. A PDF of this content is also available in through the 'Save PDF' action button
Strategic policies and growth
On the Structural Weaknesses of the post-1999 Turkish Disinflation Program
In December 1999, Turkey initiated an extensive disinflation program backed and supervised by the International Monetary Fund (IMF). In November 2000, however, Turkey experienced a severe financial crisis, which deepened and has continued to date. This contribution highlights the structural weaknesses of the exchange rate-backed disinflation program as manifested in its liquidity creation mechanism in a small and fragile financial system such as …
The Rural Economy Under Structural Adjustment and Financial Liberalization
The Macro-Integrated Agricultural-Sector modeling approach is introduced to analyze the economic effects of the post-1980 Turkish structural adjustment reform on the agricultural economy. The distinguishing feature of the model is its capability in addressing simultaneously the real and financial macro aggregates and the micro-sectoral detail of agriculture in a consistent fashion. The modeling analysis discloses that the Turkish mode of adjustme…
Distributional Dynamics in Turkey under “Structural Adjustment” of the 1980s
The economic and political crisis which Turkey faced during 1977-1980 was resolved by an orthodox stabilization program adopted early in 1980, immediately followed by conventional structural adjustment measures and the military coup realized on September of the same year. The Turkish experience with orthodox stabilization and structural adjustment incorporates a number of specificities and it will be useful to recall them briefly.First of all, th…
Dilemmas of structural adjustment and environmental policies under instability
The Rural Economy Under Structural Adjustment and Financial Liberalization
The Macro-Integrated Agricultural-Sector modeling approach is introduced to analyze the economic effects of the post-1980 Turkish structural adjustment reform on the agricultural economy. The distinguishing feature of the model is its capability in addressing simultaneously the real and financial macro aggregates and the micro-sectoral detail of agriculture in a consistent fashion. The modeling analysis discloses that the Turkish mode of adjustme…
Fiscal Debt Management, Accumulation and Transitional Dynamics in a CGE Model for Turkey
We use a dynamic general equilibrium model based on intertemporally optimizing agents to study alternative debt management policies for the Turkish economy. The model is based on the neoclassical growth theory in its adjustment to steady state dynamics, and on Walrasian general equilibrium theory of a small open economy in attaining equilibrium in its commodity and factor markets. Key features of the model are its explicit recognition of the dist…
Turkish Economy in the 1990s
Turkey entered the 1990s under conditions of a truly “open economy”–a macroeconomic environment where its capital account was completely liberalized and the process of financial de-regulation was completed. In this setting, many of the instruments of macro and fiscal control have changed in nature, as the constraints of macro equilibrium have undergone major structural change.In the early 1990s, the domestic economy witnessed a massive inflow of …
Strategic policies and growth
The Minimal Conditions for a Financial Crisis
Politics, Society and Financial Liberalization
This article focuses on the political economy of Turkey in the 1990s to illustrate the importance of analysing economic variables that intersect with the quality of political democracy. In 1989, the debt-ridden state moved to systematically and completely deregulate Turkey's financial markets. Together with the ongoing processes of liberalizing commodity markets and integrating with global capital markets, financial liberalization was expected to…
Dynamics of Macroeconomic Adjustment in a Globalized Developing Economy
(2001). Dynamics of Macroeconomic Adjustment in a Globalized Developing Economy: Growth, Accumulation and Distribution, Turkey 1969–1999. Canadian Journal of Development Studies / Revue canadienne d'études du développement: Vol. 22, No. 1, pp. 219-253
On the Structural Weaknesses of the post-1999 Turkish Disinflation Program
In December 1999, Turkey initiated an extensive disinflation program backed and supervised by the International Monetary Fund (IMF). In November 2000, however, Turkey experienced a severe financial crisis, which deepened and has continued to date. This contribution highlights the structural weaknesses of the exchange rate-backed disinflation program as manifested in its liquidity creation mechanism in a small and fragile financial system such as …
Patterns of Financial Capital Flows and Accumulation in the Post-1990 Turkish Economy
The purpose of this paper is twofold: using time series econometrics, we first investigate the determinants of short-term foreign capital inflows for Turkey following its capital account liberalization in 1989. We next investigate the changing nature of the private investment function under post-capital account liberalization and deduce hypotheses on its correlation with capital inflows and the key macroeconomic prices, such as the exchange rate,…
Introduction
The Turkish encounter with neo-liberalism
Turkey initiated an extensive dis-inflation program in December 1999 backed and supervised by The International Monetary Fund (IMF). The program aimed at decreasing the inflation rate to a single digit by the end of 2002. It exclusively relied on a nominally pegged (anchored) exchange rate system for dis-inflation and on fiscal prudence. In February 2001, however, Turkey experienced a very severe financial crisis, which deepened and continued to-…
Beyond Inflation Targeting
This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as employment creation, poverty reduction and sustainable development.
Interest Rate Smoothing and Macroeconomic Instability under Post—Capital Account Liberalization Turkey
This paper considers the interest rate policy of the Central Bank of the Republic of Turkey (CBRT) in the post-financial liberalization and deregulation era. We find that (1) the Bank's interest rate smoothing tendency is the main determinant of its monetary policy in this period, (2) the CBRT does not seem to be responsive to the developments in real economy (output), and (3) although inflation targeting central banks are not supposed to pay att…
The economics of climate change action in Turkey
An abstract is not available for this content. As you have access to this content, full HTML content is provided on this page. A PDF of this content is also available in through the 'Save PDF' action button
The Re-making of the Turkish Crisis
By the end of 2018 Turkey had entered a new economic crisis and a lengthy recession period. In contrast to the previous financial crises of 1994, 2001 and 2009, when the economy shrank abruptly with a spectacular collapse of asset values and a severe contraction of output, the 2018 economic crisis was characterized by a prolonged recession with persistent low (negative) rates of growth, dwindling investment performance, debt repayment problems, s…
Potential effects of the EU’s carbon border adjustment mechanism on the Turkish economy
Green central banking under high inflation—more of a need than an option
Poverty and income distribution incidence of the Covid-19 outbreak
To counterbalance the deep systemic global crisis triggered by the COVID-19, many countries introduced a vast arsenal of fiscal policy instruments coupled with monetary accommodation. Yet, Turkey’s response had almost exclusively relied on credit expansion and loan guarantees while minimizing the role of fiscal policy. Within that context, this article has three interrelated objectives. Firstly, we evaluate the effects of the crisis and the imple…
Turkey
The aim of this paper is to present the key challenges and structural constraints as well as potential strategies toward de-carbonization and the green transformation in Turkey, and to argue that the current mode of global finance in many ways conspires to constrain Turkey's quest for a sustainable and green industrial policy. I consider Turkey's conundrum against the backdrop of its speculation-led growth patterns and ongoing fossil fuel-based p…
Turkey in Turbulence
While global monetary tightening by central banks, led by the US Federal Reserve, has heightened concerns about a slowdown in the world's economy and an increased likelihood of debt crises across developing countries, Turkey has attracted attention for doing the opposite. Indeed, the country's economic policy makers have intensified monetary easing towards credit expansion at the risk of increased exchange rate instability. This article analyses …
Beyond the quest for a technological holy grail
Utilizing data on household consumption expenditure patterns and sectorial greenhouse gas emissions, we study the extent of inequality over Turkish households’ differentiated carbon footprint incidences. We harmonize the household budget survey data of the Turkish Statistical Institute (TURKSTAT) with production-based gas emissions data from EXIOBASE3 and investigate both the direct and indirect emissions across household-level income strata. Our…
A Two-Household Stock-Flow Consistent Model of the UK Economy
We present a two-household stock-flow consistent (SFC) model of the UK economy using data from the Office for National Statistics (ONS). The model explores the dynamics of the recent inflation episode, focusing on the interplay between inflation and income inequality through the theoretical lens of income conflict. It comprises seven sectors: households (disaggregated into rentiers and workers), non-financial corporations, monetary financial inst…
Macroeconomics of greening Turkish agriculture
With the aid of an applied general equilibrium model, we study the macroeconomic effects of various policy alternatives to stimulate the implications of the greening of Turkish agriculture. Our results suggest that the reduction in chemicals, including synthetic fertilizers, and fossil oil combustion at alternative rates of 30% and 50% would significantly reduce carbon emissions, but at the expense of adverse effects on agricultural output. In re…
Economics (23 works) · Macroeconomics (15 works) · Economic Theory and Policy (11 works) · Market economy (11 works) · Global Financial Crisis and Policies (10 works) · Monetary policy (8 works) · Political science (8 works) · Turkish (8 works) · International economics (7 works) · Monetary economics (7 works)