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The Kapali Carsi

  • Turkish Data Support No Easing

    As I argued in my most recent Hurriyet Daily News column on Monday, the state of the economy will be an important factor in whether the Central Bank of Turkey (CBT) will ease further. The basic arguments I made there were that: 1. Data are not weak enough to warrant easing. 2. Unless capital flows [...]

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  • Markets Getting Ahead of the Central Bank of Turkey

    One of the leading Turkish economy themes of this past week was the large decline in government bond yields. Here’s the intro. to my latest Hurriyet Daily News column, where I discuss the factors behind the sharp drop in Turkish government bond rates last week, and whether that trend will continue, accompanied by some lira [...]

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  • State of the Turkish Economy

    My upcoming Hurriyet Daily News (HDN) column will be published at 17.00 EST,  midnight in Turkey, 22.00 GMT & and 09.00 Eniwetok, Kwajalein time. Nope I don’t have thousands of readers from these Marshallian (as part of Marshall Islands) atolls; I actually thought they were Jedi knights:); I only learned of them when my Blackberry [...]

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  • Turks Don’t Like Differential Pricing

    There is huge outrage at the recently-privatized Istanbul Seabuses (IDO) these days. Any Turkish newspaper usually has at least an article/column a day criticizing the company, which carries passengers and cars around Istanbul as well as to Bandirma and Bursa, the gateways to the Turkish riviera if you are traveling by car from Istanbul. While [...]

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  • Lady Watanabe’s New Lover

    An article in today’s beyondbrics blog argues that Mrs. Watanabe, who used to epitomize Japanese retail investors (who are usually housewives), has ended her longtime love affair with the Brazilian real. Her new lover is none other than the Turkish lira. This phenomenon has actually been going on for some time. I have a Nomura [...]

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  • Merkel gets the full Monti

    If expectations are set very low, even mediocre results will lead to euphoria. Here’s the intro. to my latest Hurriyet Daily News column, where I begin by explaining why markets reacted so strongly to the Eurozone Leaders Summit agreement. I then summarize what was decided upon before briefly discussing the merits and shortfalls of the [...]

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  • What Is Iran Doing With All That Gold?

    You can read the details in Citi’s research note, but I think the most interesting parts of yesterday’s May trade statistics are gold exports, exports to Iran and gold exports to Iran: Turkey exported $1.66bn to Iran in May (total exports were $13.17bn). While the figure represents a 513.2 percent yoy increase, $1.39bn of the [...]

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  • A Goldilocks Plus Story for Turkey

    For loyal readers who have patiently put up with my pessimism until today, I proudly present the latest  guest post from Ali G (not the rapper- sorry for the bad joke). As always, my pessimistic comments are right below the column: I was planning to write about this later, but I felt I had to [...]

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  • Abortion of Reason in Turkish Policymaking

    Ridley Scott’s Prometheus showed me just how dangerous Prime Minister Recep Tayyip Erdoğan’s recent war against abortion and caesarean births are for humanity. Here’s the intro. to my Hurriyet Daily News column on the Turkish abortion debate back from early June. If you watched the movie, you probably guessed the scene I am referring to [...]

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  • Google Trends and Fun Facts About The Turkish Economy-2

    Here is the continuation of Ali G.’s previous guest post, with my comments right below the post: In the last post, I briefly talked about the value of data, how hard it is to obtain reliable data and how technology provides new sources of data. This week I will focus on a particular source, Google [...]

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Ed Dolan Ed Dolan's Econ Blog

Edwin G. Dolan is an economist and educator with a Ph.D. from Yale University. Early in his career, he was a member of the economics faculty at Dartmouth College, the University of Chicago, and George Mason University. From 1990 to 2001, he taught in Moscow, Russia, where he and his wife founded the American Institute of Business and Economics (AIBEc), an independent, not-for-profit MBA program. Since 2001, he has taught at several universities in Europe, including Central European University in Budapest, the University of Economics in Prague, and the Stockholm School of Economics in Riga, where he has an ongoing annual visiting appointment. During breaks in his teaching career, he worked in Washington, D.C. as an economist for the Antitrust Division of the Department of Justice and as a regulatory analyst for the Interstate Commerce Commission, and later served a stint in Almaty as an adviser to the National Bank of Kazakhstan. When not lecturing abroad, he makes his home in San Juan Islands, Washington.

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