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It's the NGDP, Turkish Edition
The CBRT's inability to reduce inflation despite high interest rates leads some to argue that it is not working. Some economists argue that inflation is…
Feb 13
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Kürşad Görgen
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It's the NGDP, Turkish Edition
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March 2022
Brace for impact
2022 has been a year full of uncertainties for the global economy so far, and it looks like it will continue. Rising inflation, the invasion of Ukraine…
Mar 20, 2022
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Brace for impact
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November 2021
The Long-Run Effects of Monetary Policy on Interest Rates
After reading Scott Sumner's recent paper on the Princeton School of Macroeconomics and Zero Lower Bound, I revisited papers of other Princeton…
Nov 12, 2021
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The Long-Run Effects of Monetary Policy on Interest Rates
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October 2021
Sticky Wages: The Key Problem of Macro
The reason we worry about recessions is mostly involuntary unemployment. Because recessions cause employment fluctuations, and this affects the entire…
Oct 12, 2021
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Kürşad Görgen
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Sticky Wages: The Key Problem of Macro
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September 2021
IS-LM is not a useful model
I have to admit that I have rarely used the IS-LM model since I became interested in economics. Instead, I find the AD-AS model much more useful. Of…
Sep 18, 2021
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IS-LM is not a useful model
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Indicators of A Good Monetary Policy
There has been a heated debate lately about whether inflation is transitory or not. I think I caught this discussion a little late, but for various…
Sep 7, 2021
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Indicators of A Good Monetary Policy
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August 2021
A Personal Note
First of all, I have to say that this post will be radically different from other posts on my blog. I've never written a personal post here before. Of…
Aug 8, 2021
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A Personal Note
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June 2021
Random thoughts on economics
I think most people understand the supply and demand less than we think. That's because supply and demand are more confusing and complex than what is…
Jun 13, 2021
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Kürşad Görgen
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Random thoughts on economics
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There is no reason to worry - yet
The Fed announced the CPI for May: 0.6% is still at a fast pace. But I don't think we should worry. The rates announced so far match Claudia Sahm's…
Jun 10, 2021
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Kürşad Görgen
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There is no reason to worry - yet
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May 2021
Can overshooting also cause recession?
In recent years, the Fed predicted inflation would be below the target. For a while, inflation remained below 2%. It has risen above 2% this year, and…
May 24, 2021
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Can overshooting also cause recession?
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Is rationality the new stupidity?
On Twitter, I come across dozens of different bad analyzes, especially about economics. This is just one of them: You might think it's stupid for people…
May 12, 2021
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Is rationality the new stupidity?
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March 2021
Are you worried about inflation? Don't be
Last summer, the Fed switched to "average inflation targeting." The Fed's main goal is to ensure that the PCE inflation will average around 2% over the…
Mar 22, 2021
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Kürşad Görgen
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Are you worried about inflation? Don't be
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