Some of My Recent Papers
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TEKEL Workers’ Resistance: Re-Awakening of the Proletariat in Turkey, February 2010.
ON THE
NATURE AND CAUSES OF THE COLLAPSE OF THE WEALTH OF NATIONS, 2007/2008: THE END
OF A FAÇADE CALLED GLOBALIZATION, February, 2009
After the Istanbul Meetings: Has the IMF changed? If so, how relevant is that change?, October 2009
Soylesi: Aksam, 25 November 2008.
Soylesi: Milliyet, 6 October 2008.
Interview: The Threat of A Corrective War, Milliyet 6 October 2008.
“Interest Rate Smoothing and Macroeconomic
Instability under Post-Capital Account Liberalization Turkey: 1990-2006”,
May 2008, PERI Working Paper No 173,
University of Massachusetts, Amherst. (with Hasan Cömert).
“Patterns of Adjustment under the Age of Finance: The Case of Turkey
as a Peripheral Agent of Neoliberal Globalization”, February, 2007. PERI Working Paper No 126,
“Enabling
Activities For The Preparation Of Turkey’s Initial National Communication To
The UNFCCC” Report Project submitted to the Government of Turkey, United
Nations Development Program on Economic Evaluation for Policy Making:, June
2006. (with Cagatay Telli and Ebru Voyvoda).
ASSESSING
THE PRIVATIZATION EXPERIENCE IN TURKEY: Implementation, Politics and
Performance Results, June 2005. Report Prepared for the Global Policy
Network and Economic policy Institute, Washington DC
Country Profile: Turkey, Macroeconomic Policy and Recent Economic Performance, March 2005 (with Teoman Pamukcu)
Country Profile: Turkey, Public Sector and Fiscal Policy Issues, March 2005 (with Teoman Pamukcu)
MANAGING TURKISH DEBT: An OLG Investigation of
the IMF’s Fiscal Programming Model for Turkey (June
2003, with Ebru Voyvoda)
In this paper we investigate the fiscal
policy alternatives on domestic debt management, cohort welfare, and growth for
the Turkish economy. We utilize a model of exogenous growth in the overlapping
generations (OLG) tradition with intertemporally optimizing agents and open
capital markets, calibrated to the Turkish economy in 1990s. We examine the
macroeconomic effects of the current IMF-led austerity program driven by the
objective of attaining primary fiscal surpluses and illustrate the sensitivity
of the program targets to growth shocks. Our results suggest that the current
fiscal program based on the primary surplus objective succeeds in containing
the explosive dynamics of debt accumulation, and yet, the path of aggregate
public debt as a ratio to GNP displays significant degree of inertia and would
be brought down only gradually and slowly.
BEYOND CRISIS
ADJUSTMENT: Investigation of Fiscal Policy Alternatives in an OLG Model of
Endogenous Growth for Turkey (August 2002, with Ebru Voyvoda)
In this paper we investigate the fiscal
policy alternatives on domestic debt management and public expenditures on
education, cohort
welfare, and growth for the Turkish
economy. We utilize a model of endogenous growth in the overlapping
generations (OLG) tradition
with intertemporally optimizing agents and
open capital markets, calibrated to the Turkish economy in 1990s. We examine
the macroeconomic effects of the current IMF-led austerity program driven by
the objective of attaining primary fiscal surpluses and illustrate the ruinous
effects of constrained human capital investments due to insufficient funds to
public education, and constrained real production activities due to the current
mode of financing of domestic debt. We then examine various taxation
alternatives to mitigate the reductions in the availability of public funds to reproducible
factors of production. Our results suggest that the current fiscal program
based on the primary surplus objective suffers from serious trade offs on
growth and fiscal targets, and that an alternative public expenditure program
supported by tax reform over wealth income is likely to produce superior
economic performance.
Turkey,
1980-2000: Financial Liberalization, Macroeconomic (In)-Stability and Patterns
of Distribution (January 2002,
with Korkut Boratav)
On the IMF-Directed Disinflation Program in Turkey: A Program For Stabilization and Austerity or a Recipe for Impoverishment and Financial Chaos? (September, 2001)
