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- Title
Turkey's Volcker Moment.
- Authors
FRIEDRICH, KLAUS
- Abstract
The article focuses on Paul Volcker, chairman of the U.S. Federal Reserve in August 1979 and the inflation level of Turkey which stood at 81 percent. Topics discussed include the controversial step taken by Volcker and his colleagues on the Board of Federal Reserve to raise the federal funds rate, the failure in monetary policy which has made Turkish governments reluctant on economic reforms, and the policy interest rate of the Turkish central bank higher than the consumer price index (CPI).
- Subjects
TURKEY; VOLCKER, Paul A., 1927-2019; UNITED States. Federal Reserve Board; PRICE inflation; FEDERAL funds market (U.S.); MONETARY policy; ECONOMIC reform; CENTRAL banking industry; CONSUMER price indexes
- Publication
International Economy, 2014, Vol 28, Issue 1, p54
- ISSN
0898-4336
- Publication type
Article