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Disequilibrium should not become the norm
In a country like Turkey, which has to choose between low growth and high current account deficit; what does it mean if interest rates are lower than inflation rate? The…
Perhaps avoiding multi-objective policies should be the objective
Short-term capital inflows have gradually increased, but exchange rate is not volatile. Real exchange rate has reached 121. Central banks that implement inflation…
Please don’t forget Dilek Özçelik’s problem
Who do you think might want to prevent Turkey from becoming a high-tech economy? Just take a look at the parliament’s meeting minutes. I have never been able to forget…
The end of the beginning in the Kurdish Apertura
Remember the famous words of Winston Churchill right after the first victory against Nazi Germany in the 1942 Battle of Egypt at El Alamein? There was contentment in his…
Why can't Izmir become like Barcelona?
It is not the residents of Izmir who decrease the attractiveness of the city. It is Ankara and its ill-designed policies concerning Izmir. Every year in Turkey, around…
Constitutional change and the Kurdish problem
These days, the PKK will be gradually withdrawing its militants. This process is expected to last until September. In order to understand how this process might unfold,…
A complicated situation
We are faced with a complicated situation. Evidently, the critical challenge is that there are several monetary policy targets. Given the Central Bank’s (CB) discourse…
Monetary policy and the brown pill
Not only does the savings rate go downhill; international comparisons validate the underperformance. While we were almost convinced that everything was fine, I am afraid…
Moving ministry buildings uptown is a bad idea
Apart from the environmental factors, the implications of moving ministries to the suburbs for democracy are worth noting. Have you ever thought of the behavior patterns…
Positive, as expected and a question mark
Taking into account the capacity utilization and real sector confidence figures for April, it is doubtful whether the recovery implied by import growth will be…
Turkish Cypriots need a vision
Turkish Cypriots are much like us in many ways, yet different. I was in Girne the other day and was a little late to pick up the car from its parking place. It was…
Cyprus gives hints of Turkey’s future
Turkey has to reduce the authority of either the prime minister or the president. Otherwise, what has happened on the Island will happen here. I will not write about the…