Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5055556 | Economic Modelling | 2008 | 14 Pages |
Abstract
We use a time-varying dynamic factor model with regime switching to construct and estimate the leading indicators of the currency crises in Turkey. After that, we analyze the business cycles of the Turkish economy, by using a three-state univariate Markov-switching model. Both models capture the observed dynamics of the Turkish economy over the period 1987-2002.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Hakan Yilmazkuday, Koray Akay,