Heiner Flassbeck, Patrick Kaczmarczyk: Argentina and Turkey: Two very different countries, the same problem

In this article, we want to ask the simple question of how Argentina’s central problem, extremely high inflation, is to be tackled by the “markets”. Thereby, we use the contrasting example of Turkey, which is also much (and wrongly) discussed in the media, to show why it is almost impossible to return to moderate inflation anywhere in the world using the orthodox means of monetary policy.



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