Fatih Özatay, PhD
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Is it that hard to go beyond the orthodoxy?
The first credit facility Greece used had an interest three points higher than that on German bonds. Economic circles of the developed world have started to meet…
A fundamental problem: The rigidity of unemployment
It appears that the increase in the LFPR has prevented the fall in the non-agricultural unemployment rate to the pre-crisis level to a certain extent. Yesterday labor…
What is the most likely optimistic scenario?
Growth will be below the potential if the external conditions reflect caution. Have the fate of economies been bonded so closely to the steps that a couple of leaders…
Growth rate: Heads to where?
Growth performance was not surprising. Then, the "overheating" debates were intensified and the European crisis was yet to escalate. Gross domestic product (GDP) for the…
Have any step been taken?
Industrial production seems to have left behind the trough. The answer to the question to which extent the economy has overcome the trough is "so so". Yesterday…
Does the CBT aim to gradually weaken the interest rate tool?
The new monetary policy makes me question whether the CBT is aiming to gradually weaken the short-term interest rate tool. From 2002 to the late 2008, when the global…
Inflation and credit supply
During 2011, the difference became close to zero. In the last couple of months, however, the two indicators started to differentiate again. I will make a brief…
Reducing the debt
If Turkey wants to take more efficient measures against unemployment in rainy days; it has to create a larger room to maneuver in advance. Emin Dedeoğlu, a friend of…
Asymmetry
If you comment so much on the exchange rate, you will be stuck in a difficult position when circumstances change. I have been chattering about 'commenting on exchange…
Looking ahead to a speech
Markets are looking ahead to the meeting Fed President will be holding with a group of central bankers and academics. All eyes were on FED President Bernanke who was…
When is it wrong to comment on the exchange rate?
In periods when risk appetite decreases, central bank officials should not comment on the exchange rate. I have been arguing that in the current climate of high…
Why don’t we leave the exchange rate on its own feet for now?
In the current milieu of high uncertainty, the CBT must refrain from implying preference for a certain level of exchange rate. It is for sure possible to evaluate the…