Loyal reader Abe Rudder has the following follow-up question to my recent post on disappearing linkages of the Turkish economy:
Speaking of linkages, how about the link between benchmark rate and ISE? and benchmark vs. policy rate? Do you have a picture for those? I remember you posted something about this over a year ago, but I couldn't find it.
She certainly has a much better memory than me; I have no recollection of that post, although I am sure she is right:) But here are the pictures she is asking for, courtesy of my friends at Turkey Data Monitor and your friendly neighborhood economist.
First, the benchmark and ISE:
Then, the benchmark and the new policy rate, i.e. the one-week repo rate:
I am not going to try to explain the relationships, as they are far from simple and not iron-clad, but here are the pictures, in case you want to make up your own story and post it as a comment here:)....
Posts
3 comments:
@ Abe Rudder: Here's your first question. Give me a couple of days for the second one, as I need to read the article first, but I did send it to my Instapaper account, which is a first step:):):)
Thanks for the post Emre, I just cant understand why policy and benchmark rates diverge that much in the last few months.
For the second one, no need to rush, i just love the way Mankiw tell the story. You got a similar MO :) The piece is about US economy but still, it's somewhat universal.
Thanks again
Abe Rudder
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