There's section in Koo's book: "Fiscal Policy Determines The Effectiveness of the Monetary Policy" altho the situation in Japan was almost completely opposite. Ben Bernanke in a recent speech (can't remember which) echoed the same sentiments. But I still don't think fiscal and monetary authorities ever worked in tandem in Turkey. +it's election year..don't expect fiscal tightening anytime soon.
Sunday, February 27, 2011
Here's Rower32 again (the second comment that did not appear in the blog, although relayed to me through email), this time on monetary and fiscal policy working in tandem, which I mentioned at the end of this week's column and then explained in an addendum:
I should say that I was really anxious to make Koo's book my first non-fiction Kindle book, but found out (for some reason, my editor friend prefers "found" to "found out", so I took advice and used the former in tomorrow's column, but the blog is for imperfect English) that it is not available as an e-book:( What a bummer:(...