Publications

7 publications found, searching for 'Korkut A. Ertürk '

• Working Paper No. 474
  August 21, 2006

  On the Minskyan Business Cycle

  Korkut A. Ertürk
  Abstract

  The essential insight Minsky drew from Keynes was that optimistic expectations about the future create a margin, reflected in higher asset prices, which makes it possible for borrowers to access…more

  Download Working Paper No. 474 PDF (90.09 KB)
• Working Paper No. 435
  January 14, 2006

  Speculation, Liquidity Preference, and Monetary Circulation

  Korkut A. Ertürk
  Abstract

  The sharp exchanges that Keynes had with some of his critics on the loanable funds theory made it harder to appreciate the degree to which his thought was continuous with…more

  Download Working Paper No. 435 PDF (624.51 KB)
• Working Paper No. 424
  June 15, 2005

  Macroeconomics of Speculation

  Korkut A. Ertürk
  Abstract

  Despite his emphasis on the speculative character of investment decisions, Minsky paid little attention to asset price speculation per se, ignoring asset price bubbles and their macroeconomic effects. That is…more

  Download Working Paper No. 424 PDF (785.43 KB)
• Policy Note No. 3
  April 26, 2005

  Is the Dollar at Risk?

  Korkut A. Ertürk
  Abstract

  A massive fiscal stimulus and, until recently, aggressive monetary easing have been successful in raising bond and real estate prices to unprecedented levels, inducing a credit boom that has prevented…more

  Download Policy Note 2005/3 PDF (434.05 KB)
• Policy Note No. 7
  December 01, 2003

  The Future of the Dollar

  Korkut A. Ertürk
  Abstract

  The big question is whether the dollar—the world’s reserve currency—can survive a steep fall in its value without the active support of the major central banks. Can the United States…more

  Download Policy Note 2003/7 PDF (109.71 KB)
• Working Paper No. 366
  December 01, 2002

  Why the Tobin Tax Can Be Stabilizing

  Korkut A. Ertürk
  Abstract

  This paper clarifies why a transaction tax of the type proposed by James Tobin can have a stabilizing influence in financial markets. It argues that such a tax is potentially…more

  Download Working Paper No. 366 PDF (78.80 KB)
• Working Paper No. 348
  June 01, 2002

  Asset Prices, Liquidity Preference, and the Business Cycle

  Korkut A. Ertürk
  Abstract

  In his Treatise on Money, John Maynard Keynes relied on two different premises to argue that the interest rate need not rise with rising levels of expenditure. One of these…more

  Download Working Paper No. 348 PDF (119.91 KB)