This case study of fiscal sustainability in Turkey after the crisis in 2001 reviews and extends
quantitative approaches to fiscal sustainability analysis and brings them together in a user-…

INTEREST RATE MANAGEMENT Il’X LDC’s S. Van WIJNBERGEN* Establishing high time …
(1977) .for Argentina and van Wijnbergen (1982) for South Korea]. In what follows we will …

We analyse credit policy in an open economy macro-model incorporating stylized facts
about the financial sector of LDC's (absence of security markets, existence of a curbmarket). …

These contributions bring both theoretical models and case studies to bear on the consequences
of natural resource discoveries in developed and developing countries. Whether it is …

We present a quarterly macroeconomic model of South Korea that explicitly incorporates
stylized facts about Korea's financial structure (absence of primary securities markets, existence …

… 4The analysis of this section follows van Wijnbergen (1984b). The diagrammatic … on q, Q,
and S, precluding the use of two-dimensional diagrams, van Wijnbergen (1984b) gives the full …

… The model to be presented is similar, although not identical, to the one used in Van
Wijnbergen (1983a), so we will only describe it briefly. The reader interested in more details and …

We explain nontraded goods and labor shortages in the Gulf countries, the decline of the
traded goods sector in oil producers (“Dutch Disease”), and the absence of employment …

The driving forces behind the Turkish export miracle, and in fact its very existence, have
remained a matter of debate. We show there was a boom. As to contributing factors, import …

Tax holidays for foreign multinational firms are tax concessions or straight subsidies granted
for a limited period after entry. Such phenomena occur widely. We apply a sequential …