Export Price Stability and Compatibility of Euro under the Export- Biased Productivity Growth in Turkey: A Criticism against the Maastricht Inflation Criterion
KSP Journals Istanbul
In this work, we analyzed the export- biased productivity, wage growth and the ULCP in Turkey. Then, by using input- output methods , we could show that Turkey has an economy which is able to be a part of the Euro system and Euro is compatible under the export- biased productivity growth in Turkey though its relatively high inflation. That means Maastricht inflation criterion should be revised in terms of countries’ economic performance.
Unit Labor Cost Parity (ULCP)