Fatih Özatay, PhD
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Room for maneuver
It is useful to spare some part of budget revenues in good days, considering rainy days ahead. I was talking about the budget burden of the measures that G-20 countries…
Commenting on the exchange rate
In countries like Turkey, the officials of central banks had better not comment on exchange rate or imply a certain level. In countries like Turkey, the officials of…
Hope is the poor man’s bread
Hope is the poor man's bread, but it will be wise to draw lessons for Turkey's fiscal policy. The impact of the global financial crisis on production and employment…
What type of communication policy?
The rationale of the decisions of the CBT could not be understood. Therefore, one fails to estimate in which direction which tool will be employed next. It was assumed…
Two mistakes
The crisis thought the CBT that ensuring price stability alone could not be the only objective of the central bank and that the scope of the monetary policy must not be…
How to explain?
If the CBT aims to ensure price stability and financial stability at the same time, it must deliver remarks separately in relation with these two purposes. On Saturday I…
The decisions of the CBT are self-consistent
The decisions of the CBT are not contradictory. Again chaos is about to erupt. Global risk appetite decreased sharply in the last two days. European and US stocks…
Question mark
The Monetary Policy Board might decide to narrow the interest rate corridor in its extraordinary meeting today. My book "Financial Crisis and Turkey" was published in…
Everyone must pay attention to what they say or write
It will be wise if everyone paid attention to what they say or write, particularly in periods of high economic uncertainty. We are used to assessing the public debt as a…
What does crisis mean?
Existing vulnerabilities are not as strong to trigger a domestic crisis unless unusual steps are taken in the field of economic policy. What does the word "crisis"…
What do the triggering factors prove?
It became apparent that Turkey has vulnerabilities that might lead to sharp market movements in the case that sudden changes in perceptions are somehow created or caused…
Why will Turkey be affected more severely?
The reason why Turkey would be affected more severely by the mentioned global circumstances if faced today is that today Turkey is encountered with bigger…