Fatih Özatay, PhD
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Industrial output on decline
In January, the downwards trend in both the output level and pace of increase in output became visible. In January, seasonally and working-day adjusted industrial output…
Some observations on exports
Today, I want to review the correlation between Turkey’s export performance and export partners’ growth performance. According to the newly revised IMF estimate, Europe,…
How will inflation rate change?
Growth rate is not the only macroeconomic indicator which is hard to estimate for 2012. Currently, it is even difficult to estimate the inflation outlook. Inflation…
Some unpleasant facts about unemployment
Unemployment rate around 10 percent is about to become the fate of Turkey. This should be prevented. Last Thursday average unemployment rate for 2011 was announced. In…
New Euro injection
Huge injections by the ECB do not eliminate the fundamental problems of Europe. Yet, it is not the ECB’s duty to solve Europe’s problems. On December 21, European…
Financial regulations in the UK
UK has been changing the financial system radically. The current authority for financial services is to be abrogated. I am keeping my promise: I will go on examining…
The new education reform bill: 4+4+4
There exists a close link between the level of education and the level of welfare in a country. Income levels of countries are revised on the basis of the price of…
What if Greece leaves the Eurozone?
Many experts argue that the only viable option for Greece is to leave the Euro and return to the Drachma. Here is the million-dollar question: What is the risk that the…
Zero interest rate
Should the interest rate will go zero in line with the Friedman rule and if the normal real interest rate aimed at 2 percent, inflation has to be -2 percent. There is…
Turkey’s position in the world growth volatility league
For the 2000-2010 period, the volatility of growth in Turkey is higher than that in 130 of 184 countries. Forecasting is a technical issue. Estimates are made upon a…
What are the macroprudential legal powers?
By the end 2012, the UK is going to have united the banking regulation authority and the central bank. Important steps are being taken to this end. Almost everyone…
The Financial Stability Committee
In order to serve its purpose, the Financial Stability Committee must be revised in terms of its governance structure. In the light of the lessons learned after the…