İktisat Bölümü

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The Macroeconomic Effects of Positive Trend Inflation in a Small Open Economy
(2022) Yılmaz, Yusuf Ömür
The existing New Keynesian open economy literature tends to make the simplifying assumption that there is no trend inflation. In this paper, we reformulate the standard open economy model to account for positive trend inflation. We then employ the model to understand the effects of macroeconomic shocks in a small open economy when trend inflation is positive. Our main finding is that allowing for trend inflation significantly affects the dynamics of the model through real exchange rate dynamics rather than the slope of the New Keynesian Philips Curve. Specifically, higher trend inflation induces modestly more persistent real exchange rates’ responses to the shocks. Further incorporation of trend inflation in an open economy enables us to discuss the Purchasing Power Parity and Delayed Overshooting Puzzles.
New exact solutions for the doubly dispersive equation using the improved Bernoulli sub-equation function method
(Indian Journal of Physics, 2021) Düşünceli, Faruk; Çelik, Ercan; Askin, Muzaffer; Bulut, Hasan
In this study, the doubly dispersive equation is presented by the application of the improved Bernoulli sub-equation function method (IBSEFM). The doubly dispersive equation which is a nonlinear partial differential equation is transformed into nonlinear ordinary differential equation using a wave transformation and then is solved by IBSEFM. Some new solutions are successfully constructed. All the obtained solutions in this study have been satisfied the doubly dispersive equation. In the present study, we have used Wolfram Mathematica 9 software for all of the computations and graphic plottings.
New Exponential and Complex Traveling Wave Solutions to the Konopelchenko-Dubrovsky Model
(HINDAWI LTD, 2019) Dusunceli, Faruk
The Konopelchenko-Dubrovsky (KD) system is presented by the application of the improved Bernoulli subequation function method (IBSEFM). First, The KD system being Nonlinear partial differential equations system is transformed into nonlinear ordinary differential equation by using a wave transformation. Last, the resulting equation is successfully explored for new explicit exact solutions including singular soliton, kink, and periodic wave solutions. All the obtained solutions in this study satisfy the Konopelchenko-Dubrovsky model. Under suitable choice of the parameter values, interesting two- and three-dimensional graphs of all the obtained solutions are plotted.
The nexus among climate change, economic growth, foreign direct investments, and financial development: New evidence from N-11 countries
(Environmental Progress and Sustainable Energy, 2021) Atay Polat, Melike; Aslan, Alper; Altınöz, Buket
The aim of this article is to investigate the relationship between air pollution, economic growth, energy use, trade openness, foreign direct investment, and financial development in N-11 countries data period from 1980 to 2018. For this purpose, it is adopted the Panel Vector Autoregression (PVAR) model for the estimation of the long and short-run effects. The results suggest that although energy consumption and financial development have a negative impact on CO2 emissions, foreign direct investment leads to an increase in pollution. In addition, there is bidirectional causality between financial development and CO2 emissions and energy use, carbon dioxide emissions and energy consumption, foreign direct investments and energy consumption, and financial development and energy consumption. In addition, there is unidirectional causality from carbon dioxide emissions to GDP, from energy consumption to GDP, from foreign direct investments to CO2 emissions and GDP, from financial development to GDP. Finally, impulse-response functions indicate the validity of the EKC hypothesis in these countries.
Oligopoly and Price Transmission in Turkey's Fluid Milk Market
(WILEY-BLACKWELL, 2013) Tekgüç, Hasan
Farmers and consumers suspect that processing firms abuse their power in the milk marketing chain by engaging in price fixing behavior. The author employs threshold autoregressive and moment threshold autoregressive tests, and contrary to expectations, finds evidence for a downward trend in wholesale milk price without a corresponding decline in farm-gate prices. The downward trend coincides with increased competition in the dairy industry and with the growing market share of the formal sector at the expense of the informal sector. Major dairy processing firms expand their market share and yet continue to enjoy healthy profits thanks to increasing returns due to economies of scale in their processing and distribution operations in a growing market. (C) 2013 Wiley Periodicals, Inc.
Separability between own food production and consumption in Turkey
(SPRINGER, 2012) Tekgüç, Hasan
Complete markets imply the separation of food production and consumption decisions such that they can be modeled to occur sequentially and can be studied independently. Separation is very often assumed implicitly in empirical studies of food demand. If there is such separation, then food sourced within the household should not have any influence upon the budget share of each food group. Using this insight, this paper first develops a procedure to test for the separation of household food production and consumption decisions. Furthermore, it incorporates the testing procedure into the Almost Ideal Demand Systems model and utilizes survey data from 2003 for Turkey for empirical testing. It concludes that the separation assumption is unwarranted for Turkey. Next, it investigates the extent of bias in elasticity estimates when the separation assumption is unwarranted. It concludes that ignoring the nonseparation of consumption and production decisions in rural areas leads to significant overestimation of food expenditure elasticity for dairy products and eggs and own-price elasticity for bread and cereals.

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