Cemil Alper

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We investigate the conditions from which inferences can be drawn regarding sustainability of fiscal stance on the one hand, and a long-run relationship between inflation and budget deficits on the other. These issues have assumed even greater importance in the aftermath of the collapse of the 1999 stabilization program in February 2001 that was designed to(More)
Recurring financial crises in the semi-periphery have raised serious question marks concerning the role of the IMF in the era of financial globalization, particularly in the aftermath of the Asian Crisis of 1997. The present paper attempts to provide a critical and at the same time a balanced perspective on the Fund's involvement in crisis-ridden emerging(More)
This paper analyses the stylized facts of business cycles in Mexico and Turkey, by comparing the results obtained for the United States. Excess volatility of real output as well as the relative volatility of consumption seems to be a problem for real business cycle models to account for. Fiscal policies and money do not yield clear-cut patterns. Both the(More)
Financial globalization offers both risks and benefits for countries of the semi-periphery or the so-called "emerging markets". Politics within the national space matters, yet acquires a new meaning, in the age of financial globalization. " Weak democracies" are characterized by limited accountability and transparency of the state and other key political(More)
A weakly regulated banking sector is costly notably in the context of emerging-market economies characterized by transitional financial systems. Political and institutional forces play an important role in explaining the inability to implement proper banking sector regulations over significantly time periods. The Turkish experience in the aftermath of(More)
When holiday variation is present so that the dates of certain holidays change from year to year, the relatively automatic seasonal adjustment procedures may fail to extract the seasonal component from a series since the holiday effects are not confined to that component. Turkey, a predominantly Muslim country, constitutes a good example of moving holidays(More)
A prototype video database management system, which we call BilVideo, is presented. BilVideo provides an integrated support for queries on spatio-temporal, semantic and low-level features (color, shape, and texture) on video data. BilVideo does not target a specific application, and thus, it can be used to support any application with video data. An example(More)
This paper investigates the basic nominal stylized facts of business cycles in Turkey using monthly data from 1978:1 to 1997:7 and the methodology suggested by Kydland and Prescott (1990). In particular, correlations of the cyclical part of the data found using two different filtering techniques namely the Hodrick-Prescott filter and the twelve-month(More)