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Category Archive: Uncategorized
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Open letter to the Central Bank of Turkey
No, it’s not a job application this time around, but just to beg them to change the current method of conducting expectations surveys. The latest of the Bank’s bi-weekly expectations surveys came out today, and there isn’t anything really interesting, except the ongoing inconsistency between the end-year current account deficit, or CAD, and growth expectations: [...]
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A call to arms…
I have noticed that I have somewhat matured since transferring the blog over to Economonitor. No more silly jokes, no more outright attacks to the eziks (yes, my dear Prof. Wiki, I did mean fenerbahce), etc… So to remind myself of the good old days, some light humor, on the government’s efforts to cool down [...]
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Guest column: Risk aversion makes a comeback
As I had mentioned in the intro. to this blog, I will be having guest columns here from time to time. Here’s Taylan Bilgic, managing editor at Hurriyet Daily News, explaining the fall in Turkish assets with risk aversion. I have some comments below the column, which was published in Hurriyet Daily Dews a few [...]
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A bit of shameless advertising
… or rather good Turkey reading: A couple of the interviews I gave during the past few weeks have found their way into columns: First, there is the Bloomberg Businessweek article by Suzy Hansen: You an see my comments on page 4, just above Dani Rodrik’s. Dani has a great summary of the Turkish economic [...]
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Interpreting Turkish Election Results (Cont.)
This is the addendum to yesterday’s Hurriyet Daily News column, which was also posted here. First, let’s start with voter political tendencies. My friend Sinan, the oxymoronic-sounding leftist ex-trader Fenerbahce fan (I am not sure which part is more oxymoronic though) told me that in the last two decades, the voting share has been distributed [...]
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Turkey Economic Data & News Wrap-Up
Here’s what is going on in Turkey regarding the economy for the past few days: First, last week’s March unemployment data turned out to be rather strong and gives clues on why the AKP did so well in the elections: Roubini’s in-house Turkey economist David Rogovic argues, in the latest Europe weekly, that a wage-price [...]
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Hurriyet column: It’s not the economy, stupid
Below is my Hurriyet Daily News column for this week, which you can also read at the Daily News website. I will have an addendum today or tomorrow, where I will expand upon some of the topics I discussed at the column, as well as make a couple of new points (I got cut down [...]
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Turkey Post-elections (II)
There have been a couple of important developments regarding the post-elections landscape: First, there were some rumors that the Savings Deposit Insurance Fund and the BRSA will act to rein in overlending. Acciording to an article in Turkish daily Habertuk, SDIF will increase deposit insurance premiums and the BRSA will increase equity capital requirement from [...]
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One column I would not want anyone to read…
… at least at Hurriyet Daily News. As I noted yesterday, when I posted this week’s Hurriyet column, the intro. of the column went missing at the HDN web site because of technical problems. That added further injury since the column had already been shortened by the print-copy editors, and the 3700-character column ended up [...]
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More potential red flags in IMF’s Turkey Staff Report
To clarify upfront, I am not discussing a published document. As I detailed at a post last week, that I cannot do, as the government has refused to approve the Report. However, what I can do is speculate on what appalled the government so much, and I have already done so in my latest Hurriyet [...]
