Fatih Özatay, PhD
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Who will make the decision? The MPC or the General Assembly?
Monetary policy is founded on two pillars. Interest rate decisions are made by the MPC, required reserve ratio is set by the General Assembly. Yesterday the Central Bank…
Unemployment rate and monetary policy
In my last commentary I stated that inflation targeting regime aims to keep inflation rate at the targeted level and unemployment are at a rate considered to be…
Monetary policy and the status quo
Monetary policy facilitates change in the status quo. The status quo cannot be influenced via interest rate policies. Finally in yesterday I have sent the textbook I…
Stability
If we are proud of the stability Turkey achieved, we have to take a look back. Are we contended or not? Today let me begin with a question that I am obsessed about…
Others' perceptions and growth
Many EU countries struggle with public budget deficits and public debt whereas Turkey does not have significant problems in this respect. In the market economy of the…
Suleiman the Magnificent and the resource problem
We have to initiate a number of reforms in order to alter the status quo which Suleiman the Magnificent would not like. Last week officials of the ruling party raised…
Why do we need additional measures?
We can expect to hear new policy decisions. I am looking for an answer to the question I put on Monday: Will the measures introduced by the Central Bank of Turkey (CBT)…
Distinguishing feature of the economy in 2010
Different than 2008 and 2009, current account deficit was financed through short term fund inflows in 2010. Now it is time to answer the question on the most…
Some distinguishing features of the economy in 2010
What is the unchanging characteristic of Turkey's economy? When you think about the most distinguishing feature of the year 2010 considering Turkey's economy, the…
Rapid credit expansion
There is bulk of evidence that rapid credit expansion is risky. The pace of expansion of bank credits is really dazzling. Today I want to examine the movements in credit…
A criticism about the CBRT
I know no academic research stating that current accounts are a tool for monetary policy. On Thursday I dealt with the recent decision of the Central Bank of the…
The sin of CBRT
What are the risks incurred by the latest TCMB decisions? With latest decisions the Central Bank of the Republic of Turkey (CBRT) has been trying to establish a monetary…