Fatih Özatay, PhD
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Financing current account deficit
European banks in deficit should not choose to close the capital gap by cutting credit supply steeply for Turkey to enjoy easy access to foreign funds. There is a common…
Developments about industrial production
The first conclusion these figures lead us to is that industrial production did not slow down in November 2011. Industrial production figures for November were…
Will the Lira strengthen in 2012?
For Mr. Başçı's expectations to prove right, the Fed has to continue the monetary expansion and the European economy has to recover. I learned about the speech the…
Why seek adventure?
Why not strengthen the inflation targeting regime taking into consideration the current circumstances rather than abandoning it? Table 1 shows the inflation targets,…
A memory from 2004-2005
Back then, the CBT met several times with the Banking Regulation and Supervision Agency (BRSA) to call it for supporting monetary policy . In this first commentary of…
Steps to avoid in 2012
Which policy does the rate which the CBT calls the “policy rate” refer to? What is the goal of that alleged policy? There exists a huge uncertainty concerning monetary…
This is way too much
Why did the CBT choose to cut the rate at fist and double almost double the rate and initiate FX selling auctions two months later? On Tuesday I reiterated my opinion…
Lessons from 2011
Central banks can implement an inflation targeting regime that also safeguards financial stability using old policy tools and the old policy framework. 2011 was a very…
There is room for fiscal expansion if necessary
Countries that have a low public debt ratio have a larger room to react against economic contraction. The Medium Term Program, the OECD and the IMF’s estimated the…
Pessimistic speculations about China
In a country like China which has such a low household consumption rate, who is supposed to buy the goods and services to be produced with the huge capacity developed…
Who wants Kim?
Why do the North Korean people fail to overthrow the dictatorship which has been confining them to death of starvation for decades? On the North Korean channel…
Need for a new economic program (5)
The level and quality of education as well as the technological content of production and export must be enhanced remarkably. Let me continue the series on the “need for…