Browsing: Output Gap

Macro View
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Taylor Rule in Turkey

Has the Turkey’s monetary policy been sufficiently tight? This question becomes extremely crucial especially after the Turkish politicians’ blistering attack on the central bank that have raised the concerns about the independence of Turkish central bank. Amid these concerns Turkey central bank has cut the…

Macro View
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GDP Growth and Potential Output in Turkey

It is strange to see that economists taking part in analyzing Turkey do not have a consensus about the third quarter growth projections. Turkey reported a year-over-year growth rate of 2.1% in the second quarter in which exports as a positive contributor to the growth…

Macro View
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Capacity Utilization Drops in November

Capacity utilization rate (CUR) was realized at 75.6% in November. It means an increase 160 basis points compared to last year but a slight decline month over month by 80 basis points. Seasonally adjusted CUR also dropped to 74.9% by 90 basis points. Looking at…