EVALUATION OF THE EFFECT OF EXPANSIONARY MONETARY POLICY IMPLEMENTED DURING COVID-19 ON THE TÜRKİYE, EU AND US ECONOMIES

Authors : İsmail Aktar

Pages : 22-32

Doi:10.53280/jer.1502393

View : 58 | Download : 43

Publication Date : 2024-09-28

Article Type : Research

Abstract :In this article, the effect of expansionary monetary policy implemented during the covid-19 on the Türkiye, the EU and the USA economies has been evaluated. The beginning of the pandemic covers the period between January 2020 and January 2024. The effects of the monthly percentage change in M3 money supply on unemployment, real economic growth and inflation are presented comparatively with graphs. As a result, while Türkiye was the country where the increase in M3 money supply increased inflation the most, the country where unemployment increased most rapidly at the initial phase of the pandemic was the USA. However, over time, the Fed managed to reduce unemployment to historical low levels with the measures it took. The consequence of the contractionary monetary policy after the pandemic, inflation has been brought under control and the option of reducing interest rates has recently come to the fore. Rising inflation in the EU was also taken under control, but unemployment still remained high.
Keywords : Covid-19, Enflasyon, İşsizlik, M3 Parasal Genişleme, Büyüme