A New Approach to Controlling Inflation: Using the Method of Training Wild Horses

Durmuş Baysal; Hakan Eryüzlü; Birol Erkan; Nazif Çalış

Article Details

A New Approach to Controlling Inflation: Using the Method of Training Wild Horses

Authors:

Durmuş Baysal | Hakan Eryüzlü | Birol Erkan | Nazif Çalış

Publisher:

Dokuz Eylul University

Main Topics:

Enflasyon

Journal:

İzmir İktisat Dergisi Vol.40 Issue 4, pp.1107-1124

Document Type:

Article

Publication Date:

1/2025

Document Language:

English

Document ID (Org No.):

2001358683

pISSN:

1308-8505

Keywords:

Abstract:

 The aim of this study is to offer new solutions to the complex inflation processes caused by the free movement of capital after globalization. As a method, the policies used by countries in different geographical regions around the world to combat inflation were examined by scanning the literature. Then, analytical inferences were made on the similarities between the phenomenon of inflation and the taming of wild horses, and various suggestions were presented. In the study, it was emphasized that each country should implement policies customized to its own specific conditions. Because inflation is not only an economic phenomenon but also a social phenomenon, for this reason, standard economic strategies may not always be effective in combating inflation. In this context, it is suggested to establish an independent inflation board consisting of experts from different disciplines that take into account local and global economic conditions. In addition to providing suggestions for monetary and fiscal policies, this board can contribute to more effective and sustainable results in combating inflation by conducting monitoring activities and taking additional measures when necessary.

 The aim of this study is to offer new solutions to the complex inflation processes caused by the free movement of capital after globalization. As a method, the policies used by countries in different geographical regions around the world to combat inflation were examined by scanning the literature. Then, analytical inferences were made on the similarities between the phenomenon of inflation and the taming of wild horses, and various suggestions were presented. In the study, it was emphasized that each country should implement policies customized to its own specific conditions. Because inflation is not only an economic phenomenon but also a social phenomenon, for this reason, standard economic strategies may not always be effective in combating inflation. In this context, it is suggested to establish an independent inflation board consisting of experts from different disciplines that take into account local and global economic conditions. In addition to providing suggestions for monetary and fiscal policies, this board can contribute to more effective and sustainable results in combating inflation by conducting monitoring activities and taking additional measures when necessary.

 The aim of this study is to offer new solutions to the complex inflation processes caused by the free movement of capital after globalization. As a method, the policies used by countries in different geographical regions around the world to combat inflation were examined by scanning the literature. Then, analytical inferences were made on the similarities between the phenomenon of inflation and the taming of wild horses, and various suggestions were presented. In the study, it was emphasized that each country should implement policies customized to its own specific conditions. Because inflation is not only an economic phenomenon but also a social phenomenon, for this reason, standard economic strategies may not always be effective in combating inflation. In this context, it is suggested to establish an independent inflation board consisting of experts from different disciplines that take into account local and global economic conditions. In addition to providing suggestions for monetary and fiscal policies, this board can contribute to more effective and sustainable results in combating inflation by conducting monitoring activities and taking additional measures when necessary.

 Bu çalışmanın amacı, küreselleşme sonrası sermayenin serbest dolaşımının yol açtığı karmaşık enflasyon süreçlerine yönelik yeni çözüm önerileri sunmaktır. Yöntem olarak, alanyazın taraması yapılarak dünya genelinde farklı coğrafi bölgelerdeki ülkelerin enflasyonla mücadelede kullandıkları politikalar incelenmiştir. Daha sonra, enflasyon olgusu ile vahşi atların terbiyesi arasındaki benzerlikler üzerinden analitik çıkarımlar yapılmış ve çeşitli öneriler sunulmuştur. Çalışmada, her ülkenin kendi özel koşullarına göre özelleştirilmiş politikalar uygulaması gerektiği vurgulanmıştır. Çünkü enflasyon yalnızca ekonomik bir olgu değil, aynı zamanda sosyal bir olgudur. Bu nedenle, enflasyonla mücadelede standart ekonomik stratejiler her zaman etkili olmayabilir. Bu bağlamda, yerel ve küresel ekonomik şartları dikkate alan, farklı disiplinlerden uzmanların yer aldığı bağımsız bir enflasyon kurulu oluşturulması önerilmektedir. Bu kurul, para ve maliye politikalarına yönelik öneriler sunmanın yanı sıra izleme faaliyetleri yürüterek ve gerektiğinde ilave tedbirler alarak enflasyonla mücadelede daha etkili ve sürdürülebilir sonuçlar elde edilmesine katkıda bulunabilir.

Article Details

A New Approach to Controlling Inflation: Using the Method of Training Wild Horses

Authors:

Durmuş Baysal | Hakan Eryüzlü | Birol Erkan | Nazif Çalış

Publisher:

Dokuz Eylul University

Main Topics:

Enflasyon

Journal:

İzmir İktisat Dergisi Vol.40 Issue 4, pp.1107-1124

Document Type:

Article

Publication Date:

1/2025

Document Language:

English

Document ID (Org No.):

2001358683

pISSN:

1308-8505

Inflation

Macroeconomics

Monetary PolicyEnflasyon

Makroekonomi

Para Politikası

Issues

Article Details

A New Approach to Controlling Inflation: Using the Method of Training Wild Horses

Authors: Durmuş Baysal | Hakan Eryüzlü | Birol Erkan | Nazif Çalış

Publisher: Dokuz Eylul University

Main Topics: Enflasyon

Journal: İzmir İktisat Dergisi Vol.40 Issue 4, pp.1107-1124

Document Type: Article

Publication Date: 1/2025

Document Language: English

Document ID (Org No.): 2001358683

pISSN: 1308-8505

Inflation

Macroeconomics

Monetary PolicyEnflasyon

Makroekonomi

Para Politikası

Issues

Authors:

Durmuş Baysal | Hakan Eryüzlü | Birol Erkan | Nazif Çalış

Publisher:

Dokuz Eylul University

Main Topics:

Enflasyon

Journal:

İzmir İktisat Dergisi Vol.40 Issue 4, pp.1107-1124

Document Type:

Article

Publication Date:

1/2025

Document Language:

English

Document ID (Org No.):

2001358683

pISSN:

1308-8505