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  • Ricardo Llaudes, Ferhan Salman, Mali Chivakul, Lorenzo Giorgianni
  • 2010
This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper examines the(More)
Reviewing the literature on " Dutch disease, " this article documents that shocks that trigger foreign exchange inflows appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and net exports. It also finds that real exchange rate misalignment due to overvaluation and higher real exchange rate volatility reduces(More)
This study examines the impact of foreign currency market interventions of the Central Bank of the Republic of Turkey (CBRT) in a multivariate GARCH framework. CBRT has switched to the floating exchange rate regime since 2001 crisis and announced that the interventions in the foreign exchange markets are aimed at reducing the expected volatility of the(More)
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