Title Turkey : selected issues / approved by European Department ; prepared by Recai Çeçen [and three others]

Published Washington, District of Columbia : International Monetary Fund, 2014

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Description 1 online resource (39 pages) : illustrations (some color) Series IMF country reports ; number 14/330 IMF country reports ; no. 14/330 Contents Cover; CONTENTS; THE EXTERNAL IMBALANCE: BOOSTING NATIONAL SAVINGS WILL LIMIT THE BURDEN OF ADJUSTMENT; A. The Policy Objective: Boosting National Savings while Maintaining Investment; B. The GIMF Model-A Global Dynamic Stochastic General Equilibrium Model; C. Four Ways of Improving the Current Account; FIGURES; 1. Permanent Increase in Private Savings; 2. Permanent Fiscal Consolidation; 3. Increase in Monetary Policy Rates; 4. Increase in Country Risk Premium; CREDIBILITY OF THE INFLATION TARGETING REGIME; A. Recent Implementation of the Inflation Targeting Regime B. Short- and Medium-Term CredibilityC. Summary and Policy Recommendations; CONTAINING WHOLESALE FX FUNDING AND RISK IN THE BANKING SECTOR; A. Current Regulatory Measures; B. International Experience-Select Examples; BOXES; 1. FSC Design Good Practices: Base and Rate; 2. Additional Measures Taken by Korea; C.A Proposal for Turkey and Its Calibration; FIGURE; 1. Impact of an Increase in FX Reserve Requirement; D. Summary and Policy Recommendations; APPENDIX; I. Incidence of Macroprudential Measures-A Simple Framework Summary This Selected Issues paper examines the external imbalance situation in Turkey. Turkey's current account deficit is expected to remain elevated at about 5.5 to 6 percent of GDP through 2019. Reducing the deficit to a more sustainable level about 2.5 to 3 percent of GDP should be a key policy priority. Applying the Global Integrated Monetary and Fiscal Model, the paper quantifies the impact of four different approaches in reducing the current account deficit. The analysis shows that policies that directly increase private or public savings can reduce the external imbalance without reducing priv Notes Online resource; title from PDF title page (ebrary, viewed February 11, 2015) Subject Finance -- Turkey International business enterprises -- Turkey -- Finance Economic history Finance International business enterprises -- Finance SUBJECT Turkey -- Economic conditions -- 2001- Subject Turkey Form Electronic book Author Çeçen, Recai, compiler ISBN 9781484336786 148433678X 1484380908 9781484380901

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