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Quo Vadis, Latince \u201cNereye gidiyorsun\u201d <\/em>demektir. H\u0131ristiyanl\u0131\u011f\u0131 yaymakla g\u00f6revli havarilerden Peter, \u0130mparator Neron’dan kurtulmak i\u00e7in Roma’dan ka\u00e7ar. Yolda Hazreti \u0130sa’ya rastlar ve sorar ” Quo vadisi?”<\/em> \u0130sa cevap verir: “Romam vado iterum crucifig\u201d<\/em> (Roma’ya tekrar \u00e7arm\u0131ha gerilmeye) Peter bunun \u00fczerine cesaretini toplayarak Roma\u2019ya d\u00f6ner, daha sonra aziz St. Peter olur.<\/p>\n Son g\u00fcnlerin ku\u015fkusuz en \u00f6nemli konusu ba\u015fta ABD dolar\u0131 olmak \u00fczere d\u00f6viz kurlar\u0131ndaki art\u0131\u015ft\u0131r.<\/em> Di\u011fer bir deyi\u015fle T\u00fcrk Liras\u0131\u2019n\u0131n (TL) ba\u015fta dolar olmak \u00fczere yabanc\u0131 paralar kar\u015f\u0131s\u0131ndaki de\u011fer kayb\u0131d\u0131r.\u00a0 Asl\u0131nda dolar yerli yerinde durmakta, de\u011ferinde bir de\u011fi\u015fme olmamaktad\u0131r.<\/em> De\u011feri dolar kar\u015f\u0131s\u0131nda de\u011fi\u015fen, di\u011fer bir deyi\u015fle d\u00fc\u015fen TL\u2019dir. Dolardaki art\u0131\u015f\u0131 ekonomik sebepler d\u0131\u015f\u0131ndaki fakt\u00f6rlere ba\u011flamak do\u011fru de\u011fildir.<\/em> Dolar uluslararas\u0131 piyasalarda di\u011fer paralara kar\u015f\u0131 de\u011fer kazanm\u0131\u015f olabilir ama bir gecede 4.51\u2019den 4.80\u2019e daha sonra 4.97 \u00e7\u0131kmas\u0131, d\u0131\u015f g\u00fc\u00e7lerin T\u00fcrkiye \u00fczerindeki oyunlar\u0131na ba\u011flanamaz.<\/p>\n Cari a\u00e7\u0131k artt\u0131k\u00e7a ve enflasyon tek hanelere indirilmedik\u00e7e dolar ve di\u011fer yabanc\u0131 paralar TL\u2019ye kar\u015f\u0131 de\u011fer kazanacakt\u0131r. Dolardaki art\u0131\u015f\u0131n durdurulmas\u0131 i\u00e7in mutlaka cari a\u00e7\u0131\u011f\u0131n daralt\u0131lmas\u0131 ve enflasyon oran\u0131n\u0131n d\u0131\u015f ticaret yapt\u0131\u011f\u0131m\u0131z \u00fclkelerdeki fiyat art\u0131\u015f seviyesine \u00e7ekilmesi gerekir.<\/em> Aksi takdirde ekonomik istikrar tehlikeye girer, bu da siyasi istikrar \u00fczerinde olumsuz etki yarat\u0131r. Kurdaki art\u0131\u015f ekonomi \u00fczerinde ek bir maliyet getirir, bu maliyet art\u0131\u015f\u0131 enflasyonist bask\u0131y\u0131 artt\u0131r\u0131r, enflasyonla m\u00fccadele zorla\u015f\u0131r, ekonomik istikrar tehlikeye girer. Bu sebeple enflasyonla m\u00fccadele T\u00fcrkiye ekonomisinde en \u00f6nemli sorundur.<\/em><\/p>\n T\u00fcrkiye\u2019de enflasyon hedefleri, Merkez Bankas\u0131 taraf\u0131ndan h\u00fck\u00fcmet ile birlikte 3\u2019er y\u0131ll\u0131k d\u00f6nemler i\u00e7in belirlenir. Enflasyon hedefi olarak, t\u00fcketici fiyat endeksinin y\u0131lsonundaki y\u0131ll\u0131k de\u011fi\u015fim oran\u0131 kullan\u0131l\u0131r.<\/em> Enflasyon hedefinin 2 puan \u00fcst\u00fc ve alt\u0131, belirsizlik aral\u0131\u011f\u0131d\u0131r. Hedef de\u011fi\u015fken olarak T\u00fcketici Fiyat Endeksi\u2019nin 12 ayl\u0131k de\u011fi\u015fimiyle hesaplanan y\u0131lsonu enflasyon oranlar\u0131 esas al\u0131n\u0131r.\u00a0T\u00fcrkiye\u2019de geli\u015fmi\u015f \u00fclkelere g\u00f6re ge\u00e7mi\u015fteki y\u00fcksek enflasyonla sebebiyle daha y\u00fcksek enflasyon oran\u0131 hedeflenir.<\/p>\n 2018 y\u0131l\u0131 i\u00e7in geli\u015fmi\u015f ekonomiler i\u00e7in hedef 1,8 iken T\u00fcrkiye\u2019de (TCMB) y\u00fczde 5\u2019tir. AK Parti\u2019nin iktidara geldi\u011fi y\u0131l 2002\u2019de hedef y\u00fczde 35 iken ger\u00e7ekle\u015fme 29,7, 2003 y\u0131l\u0131nda hedef y\u00fczde 20, ger\u00e7ekle\u015fme 18,4, 2004 y\u0131l\u0131nda hedef y\u00fczde 12, ger\u00e7ekle\u015fme y\u00fczde 9,3 olmu\u015ftur. Bu y\u0131ldan sonra hedef tek haneliye indirilmi\u015f, 2008, (%10,1) 2011(%10,4) ve 2017 (%11,92) y\u0131llar\u0131 d\u0131\u015f\u0131nda tek haneli enflasyon hedefine ula\u015f\u0131lm\u0131\u015ft\u0131r. 2012 y\u0131l\u0131ndan sonraki hedef y\u00fczde 5\u2019e indirilmi\u015ftir ama hi\u00e7bir y\u0131l hedef tutturulamam\u0131\u015ft\u0131r.<\/p>\n Enflasyon hedefi tutmay\u0131nca kur art\u0131\u015f\u0131na da engel olmak m\u00fcmk\u00fcn de\u011fildir. Bakkal Ahmet efendinin d\u00fckk\u00e2n\u0131n\u0131n ba\u015f\u0131na bir zab\u0131ta dikip, denetleyerek fiyat art\u0131\u015flar\u0131 \u00f6nlenemez. Fiyatlar artarken faizler de artar. Bu ekonominin en basit kural\u0131d\u0131r. Bir ba\u015fka deyi\u015fle KHK \u00e7\u0131kararak fiyat art\u0131\u015flar\u0131 \u00f6nlenemez. <\/em><\/p>\n Artan fiyatlar ekonominin hem i\u00e7, hem de d\u0131\u015f dengesini bozar, kur art\u0131\u015f\u0131na yol a\u00e7ar.\u00a0 Ekonomide fiyatlar, \u00fcretimi ve verimli\u011fi artt\u0131rarak, teknoloji geli\u015ftirerek d\u00fc\u015fer. Bu sebeple T.C. Merkez Bankas\u0131\u2019n\u0131n en \u00f6nemli g\u00f6revi fiyat istikrar\u0131n\u0131 sa\u011flamak ve s\u00fcrd\u00fcrmektir. \u00a02018 y\u0131l\u0131nda tek haneli enflasyon hedefi bir ba\u015fka bahara kalm\u0131\u015ft\u0131r.<\/em><\/p>\n Uluslararas\u0131 kredi derecelendirme kurulu\u015fu Moody\u2019s 12 Temmuz<\/em>\u2019da TCMB\u2019nin ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131 konusunda duydu\u011fu endi\u015felerini a\u00e7\u0131klam\u0131\u015f, TCMB\u2019nin etkinli\u011fine y\u00f6nelik zorluklar\u0131n T\u00fcrkiye\u2019nin kredi notu i\u00e7in negatif olaca\u011f\u0131 uyar\u0131s\u0131nda bulunmu\u015ftur. \u00a0Moody\u2019s, \u201cMerkez Bankas\u0131\u2019n\u0131n T\u00fcrkiye ekonomisi ve finansal sisteminde b\u00fcy\u00fcyen dengesizlikleri d\u00fczeltmedeki rol\u00fcn\u00fcn \u00f6nemi dikkate al\u0131nd\u0131\u011f\u0131nda Banka\u2019n\u0131n etkinli\u011fine y\u00f6nelik daha fazla zorluk, meydan okumalar kredi notu i\u00e7in a\u00e7\u0131k bir \u015fekilde negatif\u201d<\/em> de\u011ferlendirmesini yapm\u0131\u015ft\u0131r.<\/p>\n Ekonomide fiyat art\u0131\u015flar\u0131 d\u00fc\u015fmedi\u011fi s\u00fcrece kur art\u0131\u015f\u0131na serbest kambiyo rejimi uygulanan bir \u00fclkede engel olunamaz. Kur art\u0131\u015flar\u0131 meydan okumayla d\u00fc\u015fseydi, dolar kuru 13 Temmuz\u2019da 4,85\u2019ler seviyesinde<\/em> olmazd\u0131. Dolar kuru, T\u00fcrkiye piyasalar\u0131n\u0131n kapal\u0131 oldu\u011fu saatte uluslararas\u0131 piyasalarda 4,97 TL’nin \u00fczerini g\u00f6rd\u00fckten sonra, yeni g\u00fcne 4,84 TL’den ba\u015flam\u0131\u015f, bu sat\u0131rlar\u0131n yaz\u0131ld\u0131\u011f\u0131nda da 4,86 TL’ye kadar y\u00fckselmi\u015ftir.<\/em><\/p>\n Kur, ticaret sava\u015flar\u0131 tedirginli\u011finin artmas\u0131 ve\u00a0geli\u015fen \u00fclke piyasalar\u0131n\u0131n genelinde ya\u015fanan \u00e7\u0131k\u0131\u015flarla hareketli bir seyir izlerken,\u00a0ekonomi politikalar\u0131 ve bunlara ili\u015fkin s\u00f6ylemler de kur art\u0131\u015f\u0131nda etkili olmu\u015ftur. Cumhuriyetin ilk y\u0131llar\u0131nda dolardan daha de\u011ferli olan T\u00fcrk Liras\u0131 95 y\u0131lda ya\u015fad\u0131\u011f\u0131 deval\u00fcasyon ve krizler sonucunda 5,00 TL\u2019ye yakla\u015fm\u0131\u015ft\u0131r. (S. R\u0131dvan Karluk, T\u00fcrkiye Ekonomisi, 13. Bask\u0131, 2014, s. 483)<\/p>\n 2014-2018 d\u00f6nemini kapsayan 10. Be\u015f Y\u0131ll\u0131k Kalk\u0131nma Plan\u0131’nda 2018 itibariyle 1.3 trilyon dolarl\u0131k GSYH ve 16 bin dolarl\u0131k ki\u015fi ba\u015f\u0131na milli gelir hedefleri, dolar kurunun be\u015f y\u0131lda 1,97 TL olaca\u011f\u0131 varsay\u0131m\u0131na g\u00f6re olu\u015fturulmu\u015ftur.<\/p>\n Denizli Sanayi Odas\u0131’n\u0131 25 May\u0131s<\/em>\u2019ta ziyaret eden eski Ekonomi Bakan\u0131 Nihat Zeybek\u00e7i<\/em> d\u00f6viz kurlar\u0131ndaki dalgalanmalarla ilgili yapt\u0131\u011f\u0131 de\u011ferlendirmede,\u00a0“T\u00fcrk Liras\u0131’n\u0131n de\u011feri, T\u00fcrkiye’nin ger\u00e7eklerini yans\u0131tm\u0131yor, kabul edilesi de\u011fil bu. Onun i\u00e7in de bunlar\u0131n hepsi gelip ge\u00e7icidir. G\u00f6receksiniz, yakla\u015f\u0131k olarak 10 g\u00fcn diyelim, rahatlad\u0131\u011f\u0131m\u0131z\u0131 hep beraber g\u00f6rece\u011fiz”<\/em>\u00a0demi\u015ftir ama 5 Haziran<\/em>\u2019da kimse rahatlamam\u0131\u015ft\u0131r. Belki de bu sebeple yeni kabinede g\u00f6rev alamam\u0131\u015ft\u0131r.<\/p>\n 25 May\u0131s\u2019ta dolar 4,70-4,75 aras\u0131nda iken 5 Haziran\u2019da 4,59\u2019a inmi\u015ftir ama 25 May\u0131s\u2019tan g\u00fcn\u00fcm\u00fcze kadar ge\u00e7en s\u00fcrede d\u00f6viz (dolar, Euro) kuru TL kar\u015f\u0131s\u0131nda artm\u0131\u015f, di\u011fer bir deyi\u015fle TL de\u011fer kaybetmi\u015ftir.\u00a0 \u00a0Enflasyonu indirmeden liberal bir kambiyo rejiminde kuru sabit tutmak m\u00fcmk\u00fcn de\u011fildir. Sabit kur rejimlerinde bu sebeple deval\u00fcasyon yap\u0131l\u0131r.<\/em> (S. R\u0131dvan Karluk, Uluslararas\u0131 Ekonomi, 10. Bask\u0131, 2013, s. 631)<\/p>\n \u00d6n\u00fcm\u00fczdeki \u00fc\u00e7 y\u0131l\u0131 kapsayan 2018-2020 Orta Vadeli Program\u00a0hedefleri d\u00f6viz kurlar\u0131ndaki y\u00fckseli\u015fle birlikte \u00e7\u00f6km\u00fc\u015ft\u00fcr. \u00a0H\u00fck\u00fcmetlerin d\u00f6viz kurunda bir hedefi olmaz. Ancak baz\u0131 b\u00fcy\u00fckl\u00fckleri dolar cinsinden ifade edebilmek i\u00e7in bir dolar kuru varsay\u0131m\u0131nda bulunmak gerekir. \u00a02018 y\u0131l\u0131 dolar kuru varsay\u0131m\u0131 3,77 TL\u2019dir. Orta Vadeli Programa g\u00f6re dolar kuru 2019 i\u00e7in 3.95, 2020 i\u00e7in ise 4,06 olarak varsay\u0131lm\u0131\u015ft\u0131r.<\/p>\n H\u00fck\u00fcmetin 2018 y\u0131l\u0131 i\u00e7in 3,77 TL olarak \u00f6ng\u00f6rd\u00fc\u011f\u00fc dolar kuru 2018 y\u0131l\u0131 bitmeden bu seviyeyi a\u015farak 2020 y\u0131l\u0131ndaki hedefi ge\u00e7mi\u015ftir. \u00a0<\/em><\/p>\n Bu durumda \u00a0\u00a0dolar baz\u0131nda T\u00fcrkiye’nin milli geliri d\u00fc\u015fer, enflasyon hedefi\u00a0tutmaz. Bunun i\u00e7in \u00a0\u00a02018-2020 Orta Vadeli Program\u2019\u0131n yeniden g\u00f6zden ge\u00e7irilmesi bir zorunluk olarak ortaya \u00e7\u0131kmaktad\u0131r. Say\u0131n Bakan\u0131n \u201cNas\u0131l ki 4,90\u2019lara bilmem neye \u00e7\u0131kt\u0131 (!) bu kadar zarar olu\u015fmad\u0131ysa 3,70\u2019lere indi bu kadarda gerilim olu\u015fmad\u0131\u201d <\/em>gibi\u00a0anla\u015f\u0131lmas\u0131\u00a0m\u00fcmk\u00fcn olmayan\u00a0\u00a0 a\u00e7\u0131klamalar yapmak yerine, dolar\u0131n 10 g\u00fcn sonra ne olaca\u011f\u0131n\u0131\u00a0tahmin etmesi\u00a0gerekirdi.\u00a0 \u00c7\u00fcnk\u00fc dolardaki art\u0131\u015f, ekonomideki t\u00fcm makro dengeleri bozmaktad\u0131r<\/em>. 27 May\u0131s\u2019ta yay\u0131nlanan yaz\u0131mda \u015fu tespitte bulunmu\u015ftum: \u201cBenim tahminim 10 g\u00fcn sonra olmasa bile dolar TL\u2019ye kar\u015f\u0131 de\u011fer kazanacakt\u0131r.\u201d <\/em>Maalesef say\u0131n bakan de\u011fil ben hakl\u0131 \u00e7\u0131kt\u0131m. Ke\u015fke aksi olsayd\u0131.<\/p>\n Siyaset\u00e7ilerin konu\u015fmas\u0131, yo\u011fun bak\u0131mda olan T\u00fcrk Liras\u0131\u2019n\u0131n bazen pik bazen de dip yapmas\u0131na yol a\u00e7m\u0131\u015ft\u0131r. Siyasi konu\u015fma dolar\u0131n sa\u011fl\u0131\u011f\u0131 an\u0131nda bozmaktad\u0131r.<\/em> 2002- 2018 d\u00f6neminde dolar kurunun ani y\u00fckselmelerinde siyasi konu\u015fmalar\u0131n etkisi olmu\u015ftur. 2003 y\u0131l\u0131ndaki ilk y\u00fckselme 2\u2019nci AK Parti H\u00fck\u00fcmeti\u2019nin kurulma s\u00fcrecinde olmu\u015f, 22 g\u00fcnde kur y\u00fczde 9,9 artm\u0131\u015ft\u0131r. 2004 y\u0131l\u0131nda yerel se\u00e7imler \u00f6ncesindeki belirsizlik sonucunda dolar kuru y\u00fczde 19 y\u00fckselmi\u015ftir. 2006 y\u0131l\u0131ndaki Dan\u0131\u015ftay sald\u0131r\u0131s\u0131 ve Zirve Yay\u0131nevi katliam\u0131 belirsiz bir ortam yaratm\u0131\u015f ve dolar y\u00fczde 29 de\u011fer kazanm\u0131\u015ft\u0131r.<\/p>\n 2008\u2019de Mortgage skandal\u0131 ile ba\u015flayan ekonomik kriz ile AK Parti\u2019nin kapatma davas\u0131 s\u00fcrecinde TL 49 g\u00fcnde y\u00fczde 37 oran\u0131nda de\u011fer kaybetmi\u015ftir. ABD Merkez Bankas\u0131 May\u0131s 2013\u2019de faizleri artt\u0131r\u0131nca, buna ba\u011fl\u0131 olarak dolar yine de\u011ferlenmi\u015ftir. 22 Eyl\u00fcl\u2019de Moody\u2019s\u2019in T\u00fcrkiye\u2019nin notunu yat\u0131r\u0131m yap\u0131labilir seviyeden riskli \u00fclke s\u0131n\u0131f\u0131na indirmesi ve ABD\u2019de Trump\u2019\u0131n kazanmas\u0131yla dolar kuru artmaya ba\u015flam\u0131\u015ft\u0131r. Eyl\u00fcl ay\u0131ndaki Moody\u2019s not indiriminden sonraki s\u00fcre\u00e7te TL dolara kar\u015f\u0131 de\u011fer kaybetmeye devam etmi\u015ftir.<\/p>\n Enflasyon ve d\u00f6viz kurlar\u0131ndaki art\u0131\u015f, T\u00fcrkiye\u2019nin 2023 ekonomik hedeflerine ula\u015fmas\u0131na da engeldir. H\u00fck\u00fcmetin ekonomi alan\u0131ndaki hedefleri aras\u0131nda d\u00fcnyan\u0131n en b\u00fcy\u00fck 10 ekonomisi i\u00e7inde olmak, 500 milyar dolar ihracat ve ki\u015fi ba\u015f\u0131 25 bin dolar gelir vard\u0131r.<\/em> Hedefler ile ilgili h\u00fck\u00fcmet programlar\u0131na bakt\u0131\u011f\u0131m\u0131zda; 60. H\u00fck\u00fcmet Program\u0131\u2019nda 2, 61. H\u00fck\u00fcmet Program\u0131\u2019nda 27, 62. H\u00fck\u00fcmet Program\u0131\u2019nda 57, 64. H\u00fck\u00fcmet Program\u0131\u2019nda 10 ve 65. H\u00fck\u00fcmet Program\u0131\u2019nda 8 defa 2023 hedeflerine yer verilmi\u015ftir. Dikkat edilirse h\u00fck\u00fcmet programlar\u0131nda hedeflere ula\u015fma kelimesi sonlara do\u011fru azalm\u0131\u015ft\u0131r. Bu da hedeflere ula\u015fman\u0131n imk\u00e2ns\u0131z oldu\u011funu ortaya koymaktad\u0131r.<\/p>\n Cumhurba\u015fkan\u0131 Erdo\u011fan, 8 Nisan 2018<\/em> ve sonras\u0131nda \u201cEnflasyonun nedeni y\u00fcksek faiz. S\u00f6yleye s\u00f6yleye dilimde t\u00fcy bitti ama devam edece\u011fim\u201d<\/em> demi\u015ftir ama faiz inmemi\u015f, aksine artm\u0131\u015ft\u0131r. Faiz 13 Temmuz\u2019da 20.28\u2019e \u00e7\u0131km\u0131\u015ft\u0131r. \u00a0Faiz, Cumhurba\u015fkanlar\u0131 \u201cin\u201d deyince inmez.\u00a0 \u0130nmesi i\u00e7in \u00f6nce enflasyonun tek haneye d\u00fc\u015f\u00fcr\u00fclmesi ve ekonomide istikrar sa\u011flanmas\u0131 gerekir. Say\u0131n Cumhurba\u015fkan\u0131 20 Haziran<\/em>\u2019da Adana\u2019da y\u00fcksek faiz oranlar\u0131na ili\u015fkin, “Faizin b\u00f6yle oldu\u011fu bir \u00fclkede siz yat\u0131r\u0131m yapabilir misiniz? Arkada\u015flar bunu de\u011fi\u015ftirece\u011fiz, bu i\u015fin lam\u0131 cimi yok\u201d<\/em> demi\u015ftir.<\/p>\n Buna kar\u015f\u0131l\u0131k 12 Temmuz<\/em>\u2019da yeni Hazine ve Maliye Bakan\u0131 Berat Albayrak<\/em> \u015fu do\u011fru tespiti yapm\u0131\u015ft\u0131r: “Enflasyonun en k\u0131sa s\u00fcrede \u00f6nce tek haneye, ard\u0131ndan hedefimize gerilemesi i\u00e7in ad\u0131mlar\u0131m\u0131z\u0131 ataca\u011f\u0131z. Merkez Bankas\u0131n\u0131n ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131n\u0131n ve karar alma mekanizmalar\u0131n\u0131n spek\u00fclasyonlara konu edilmesi kabul edilmez.”<\/em><\/p>\n \u015eahs\u0131ma her 3 ayda bir IFO\u2019dan g\u00f6nderilen \u201cQ u e s t i o n n a i r e WES Survey July 2018: Data requested for Turkey Code-No.: 16001852 – 5032.8059.01 Question 4\u00a0 Expected inflation rate (year-on-year change in the Consumer Price Index, CPI) by the end of the next 6 months\u201d <\/em>sorusuna verdi\u011fim cevap\u00a0 \u015f\u00f6yledir: \u201c[x ] 1 higher, [ ] 2 about the same, [ ] 3 lower.<\/em> Ifo World Economic Survey Boumans, Dorine [Boumans@ifo.de] Dear Prof. Karluk, We are pleased to inform you that the detailed WES report is now available on the ifo website)<\/em><\/p>\n Albayrak; politikalar\u0131n\u0131n b\u00fct\u00e7e disiplinini, tek haneli enflasyonu ve yap\u0131sal reformlar\u0131 \u00f6nceleyerek, T\u00fcrkiye ekonomisinin istikrarl\u0131 ve s\u00fcrd\u00fcr\u00fclebilir bir b\u00fcy\u00fcme hedefi \u00e7er\u00e7evesinde \u015fekillenece\u011fini s\u00f6ylemi\u015ftir.<\/em> B\u00f6ylece ekonomi bilimine olan sayg\u0131s\u0131n\u0131 g\u00f6stermi\u015ftir.<\/p>\n Uluslararas\u0131 Para Fonu S\u00f6zc\u00fcs\u00fc Gerry Rice<\/em> Washington\u2019da d\u00fczenledi\u011fi bas\u0131n toplant\u0131s\u0131nda yeni h\u00fck\u00fcmetin sa\u011fl\u0131kl\u0131 ekonomi politikalar\u0131 uygulamaya kararl\u0131 oldu\u011funu g\u00f6sterdi\u011fini belirterek “\u00d6nemli olan yeni y\u00f6netimin sa\u011fl\u0131kl\u0131 ekonomi politikalar\u0131na, makroekonomik istikrar\u0131 g\u00fc\u00e7lendirmeye ve dengesizlikleri azaltmaya kararl\u0131 oldu\u011funu g\u00f6steriyor olmas\u0131”<\/em> demi\u015ftir. Rice, ayr\u0131ca, ekonomi y\u00f6netiminin piyasalarda ya\u015fanan volatilite (oynakl\u0131k) sonras\u0131nda, TCMB fiyat istikrar\u0131n\u0131 sa\u011flamaya y\u00f6nelik operasyonel ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131n\u0131n g\u00fcvence alt\u0131nda oldu\u011funu ortaya koydu\u011funu vurgulam\u0131\u015ft\u0131r.<\/p>\n Enflasyon inmeden faizler d\u00fc\u015fmez. E\u011fer d\u00fc\u015ferse, bunun nas\u0131l d\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc ispatlayan iktisat\u00e7\u0131 Nobel \u00f6d\u00fcl\u00fcn\u00fc kazan\u0131r.<\/em> Ke\u015fke T\u00fcrkiye\u2019den b\u00f6yle bir iktisat\u00e7\u0131 \u00e7\u0131ksa ve kitaplar\u0131n\u0131 okudu\u011fum ve \u00f6\u011frencilerime tavsiye etti\u011fim Tinbergen, Samuelson,\u00a0Kuznets, Leontief, Myrdal, Hayek, \u00a0Friedman, Meade, \u00a0Schultz, Lewis, Klein, Tobin, Stigler, \u00a0Modigliani, Buchanan, Solow, Lucas, Mundell, Stiglitz, Phelps, \u00a0Krugman ve Thaler<\/em> gibi Nobel kazansa, acaba memnun olmayan bir ki\u015fi \u00e7\u0131kar m\u0131?<\/p>\n Bence \u00e7\u0131kmaz\u2026<\/p>\n","protected":false},"excerpt":{"rendered":" T\u00fcrkiye’de son g\u00fcnlerde ya\u015fanan dolar art\u0131\u015f\u0131n\u0131n sebebi nedir? Dolar ger\u00e7ekten de 10 lira olsa bile 1 lira, 1 lira olarak kalmaya devam m\u0131 edecektir? Dolar\u0131n durdurulamaz art\u0131\u015f\u0131 gelecek g\u00fcnlerde T\u00fcrkiye’de hangi krizlere kap\u0131 a\u00e7acakt\u0131r?<\/p>\n","protected":false},"author":3,"featured_media":2797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_links_to":"","_links_to_target":""},"categories":[63,2,66,67],"tags":[],"yoast_head":"\n![\"\"](\"http:\/\/misak.millidusunce.com\/wp-content\/uploads\/2018\/07\/images.jpg\")
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