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October 2014 - December 2019
BUSİAD-Bursa Sanayicileri ve İş İnsanları Derneği
- Macroeconomics Counselor
Following the global financial crisis, the quantitative easing policies implemented by developed countries to recover from the crisis led to large capital inflows into developing countries. In the face of macro-financial risks associated with capital flows, policy authorities had to deal with various policy dilemmas between price stability and fina...
The history of monetary thought has been an area of debates within the spectrum of the minimalism-activism in terms of both the objectives and tools of monetary policy. The minimalist approach based on the single objective-single instrument framework before the global financial crisis had a set of objectives and tools suitable for the traditional b...
The role of the exchange rates in emerging market economies that have adopted inflation targeting (IT) is a critical and contentious issue in the relevant literature. This article investigates whether an exchange rate-augmented Taylor rule describes the Central Bank of Republic of Turkey’s (CBRT) monetary policy. Covering the period from 2002:1 to...
After the global financial crisis, it has been seen that many emerging markets like Turkey have developed policy frameworks that allow for price stability and financial stability taken together. The CBRT has implemented new policy mix since November 2010, in response to need to respond flexibly to the problems faced by orthodox inflation targeting...
This study investigates the dynamics of inflation for Turkish economy from 1990 to until 2013 under the New Keynesian Philips Curve framework by using the non-causal time series methodology developed by Lanne and Saikkonen (2011) and Lanne and Luoto (2013). There is a vigorous ongoing debate on the appropriate specification of the New Keynesian Phi...
Since the beginning of the 1990s, both industrialised and developing countries have adopted inflation targeting as a monetary policy strategy. Their central banks have designed their legal mandates to instutionalise monetary policy to aim only at price stability. In this sense, price stability is accepted as a pre-condition of sustainable growth an...