İktisat Bölümü

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Effect of Economic Policy Uncertainty on Co2 With the Discrimination of Renewable and Non Renewable Energy Consumption
(Pergamon-elsevier Science Ltd, 2024) Atay Polat, Melike; Ilhan, Ozturk; Usama, Al-Mulali; Savranlar, Buket; Polat, Melike Atay; Metawa, Noura; Raboshuk, Alina
The link between policy -related economic uncertainty and the environment has a new and developing literature. In this study, the effects of economic policy uncertainty, energy consumption and economic growth on pollution in G7 countries are investigated by using methods of moments quantile regression over the perod of 1995-2018. According to the long run coefficient estimation results, in the model in which the fossil fuel energy consumption variable is used as an energy consumption indicator, economic policy uncertainty has a reducing effect on emissions at all quantile levels. Although this negative effect becomes more pronounced as the quantile level increases, it is statistically insignificant at the 0.90 quantile level. In the model that includes fossil fuel energy consumption, the coefficient of economic policy uncertainty variable is negative in all quantiles and is significant only at the 0.30 and 0.40 quantile levels. In addition, while a U-shaped relationship is detected between economic growth and emissions in these countries, the destroying effect of fossil fuel energy on environmental quality is confirmed in all quantiles. Thus, it should be a priority to support the developments in growth performance with environmental regulations, encourage energy -saving and energy -efficient practices as well as to establish the legal infrastructure.
Evaluation Of The Relationship Between Foreign Trade Liberalization And Unemployment Within The Framework Of The Heterogeneous Firm Model;
(Sosyoekonomi Society, 2022) Çirkin, Z.; Göksel, T.
This study investigates how foreign trade liberalization affects unemployment by using the Melitz model (2003), which is one of the intra-industry trade models expressing trade between countries with similar technologies, preferences, and cost structures that make up a large part of international trade. The Melitz model (2003) is remodelled by efficiency wage theory to endogenize unemployment. The model is solved by numerical method. It is assumed that market expansion and competition in the market occur simultaneously. The effect of liberalization on unemployment varies depending on which of two factors, market expansion or competition, dominates the other. According to the results, unemployment decreases when market expansion dominates the competition, while unemployment increases if competition dominates market expansion. In addition, it has been observed that there is an increase in the total amount of production, productivity, and unemployment insurance when market expansion is dominant. Also, it has been observed that there is a decrease in the total amount of production, productivity level, and unemployment insurance when competition in the market is dominant. © 2022, Sosyoekonomi Society. All rights reserved.
Misspecified expectations in an open economy
(Elsevier, 2024) Yılmaz, Yusuf Ömür; Cicekci, Cumhur
In the past two decades, Turkey has experienced multiple changes in its monetary policy regime.To analyse how these policy changes affect the behaviours of households and firms, somebehavioural parameters are incorporated into a small open economy New Keynesian model. Ourapproach consists of four phases. First, we assess the impacts of the behavioural parameters onthe model and find that higher values of the parameters increase the effects of expectationson the model. Second, for the period between 2006 and 2021, the model is estimated for theTurkish economy and the findings show that both households and firms are more forward-looking in their decision making. Moreover, the current variables have a weak effect on thenominal interest rate, and the inertial nominal interest rate has a strong effect on it. Third, weanalyse the evolution of the model parameters over the period and find that the behaviouralparameters tend to increase, while the monetary policy becomes more inertial. Finally, weconclude that the Central Bank should follow Domestic Inflation-based Taylor rule to minimise welfare loss

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