Recent Submissions

  • Catching-up and innovation in high and low income countries 

    Taskin, F.; Zaim, O. (Elsevier, 1997-01)
    The study utilizes a variant of the Malmquist Productivity Index computed by nonparametric linear programming techniques to empirically investigate the catching-up hypothesis for a group of high- and low-income countries. ...
  • Efficiency of the Turkish Stock Exchange with respect to Monetary Variables: A C 

    Muradoglu, G.; Metin, K. (Elsevier, 1996-05-10)
    In this study, we test the semistrong form of the efficient market hypothesis in Turkey by using the recently developed techniques in time series econometrics, namely unit roots and cointegration. The long run ...
  • Incomplete Information and Incentives to Free Ride on International Environment Resources 

    Bac, M. (Elsevier, 1996-05)
    This paper studies free-riding incentives on common environmental resources in an incomplete information repeated game where abatements are perishable and perfect substitutes. Two contrasting types of perfect Bayesian ...
  • A note on price-volume dynamics in an emerging stock market 

    Basci, E.; Ozyildirim, S.; Aydogan, K. (Elsevier, 1996-03)
    We present a continuum economy with risk neutral. agents having heterogeneous expectations and restricted short sales. A stochastic version of the model is also formulated and the resulting time series behavior of the price ...
  • Dilemmas of Structural Adjustment and Environmental Policies under Instability 

    Boratav, K.; Tural, O.; Yeldan, E. (Elsevier, 1996-02)
    The Turkish structural adjustment since 1980 has been associated with chronic instability. Since the late 1980s, the weaknesses in the fiscal system and the premature external liberalization emerge as the main factors ...
  • Central Bank independence and financing government spending 

    Berument, H. (Elsevier, 1998)
    This paper incorporates the effect of the central bank's independence into the government's optimum financing model. When the implications of the hypotheses are tested for eighteen OECD countries, this paper shows that ...
  • Issue by issue negotiation: The role of information and time preference 

    Bac, M.; Raff, H. (Elsevier, 1996-03)
    The alternating offers bargaining game with two pies and incomplete information has a bargaining sequential equilibrium where the ''strong'' type of the informed player restricts his offer to one pie, leaving it to the ...
  • How to Go Green? A General Equilibrium Investigation of Environmental policies for Sustained Growth with an Application to Turkey 

    Bouzaher, A.; Sahin, S.; Yeldan, A. E. (SpringerLink, 2015)
    Green growth is a relatively new concept aimed at focusing attention on achieving sustainable development through the efficient use of environmental assets without slowing economic growth. This paper presents a real-world ...
  • Egalitarianism under earmark constraints 

    Bochet, O.; Ilkilic, R.; Moulin, H. (Elsevier, 2013-03)
    Agents with single-peaked preferences share a resource coming from different suppliers; each agent is connected to only a subset of suppliers. Examples include workload balancing, sharing earmarked funds, and rationing ...
  • Interest Rate Smoothing and Macroeconomic Instability under Post-Capital Account Liberalization Turkey 

    Comert, H.; Yeldan, A. E.; Olcum, G. A. (Taylor & Francis, 2011)
    This paper considers the interest rate policy of the Central Bank of the Republic of Turkey (CBRT) in the post-financial liberalization and deregulation era. We find that (1) the Bank's interest rate smoothing tendency is ...
  • A Dynamic Model of Dissonance Reduction in a Modular Mind 

    Karagozoglu, E. (American Psychological Association, 2014-03)
    This article establishes an economic framework to identify the conditions under which an optimizing agent may seek (or not seek) to engage in costly dissonance reduction. We set up a dynamic model of decision-making in ...
  • Speculation and the Decision to Abandon a Fixed Exchange Rate Regime 

    Pastine, I. (Elsevier, 2002-06)
    This paper demonstrates that the implications of first-generation speculative attack models do not hold if there is a rational, forward-looking policy maker. The policy maker will be able to avoid predictable speculative ...
  • Law Enforcement and Legal Presumptions 

    Bac, M.; Bag, P. K. (Elsevier, 2001-12)
    We compare two alternative legal presumptions, one more pro-defendant than the other, with the objective of reducing bureaucratic corruption to any target level at minimum social costs, broadly defined to include law ...
  • Effects of Growth Volatility on Economic Performance 

    Berument, H.; Dincer, N. Nergiz; Mustafaoglu, Z. (Elsevier, 2012-03-01)
    This paper examines the relationship between growth and growth volatility for a small open economy with high growth volatility: Turkey. Quarterly data for the period from 1987Q1 to 2007Q3 suggests that growth volatility ...
  • Implementing Equal Division with an Ultimatum Threat 

    Cetemen, E. D.; Karagozoglu, E. (Springer US, 2014)
    We modify the payment rule of the standard divide the dollar (DD) game by introducing a second stage and thereby resolve the multiplicity problem and implement equal division of the dollar in equilibrium. In the standard ...
  • Regulated fractionally integrated processes 

    Trokic, M. (Wiley, 2013)
    Regulated (bounded) integrated time series are of significant practical importance and a recent development in the time series literature. Although regulated integrated series are characterized by asymptotic distributions ...
  • An interest-rate-spread-based measure of turkish monetary policy 

    Berument, H.; Ceylan, N. B.; Dogan, B. (Taylor & Francis, 2014)
    A coherent method to measure the effectiveness of a monetary policy improves the monetary authority's management capacity and renders the possibility of applying sound policies prior to and during a crisis. The trend in ...
  • Fiscal Efficiency, Redistribution and Welfare 

    Bulut Cevik, Z. B.; Neyapti, B. (Elsevier, 2014-08)
    TThe expanding literature on fiscal decentralization (FD) emphasizes the role of institutional mechanisms for FD's welfare effects. We analyze the welfare effects of FD in case of a fiscal transfer mechanism that punishes ...
  • Turkish Monetary Policy and Components of Aggregate Demand: A VAR Analysis with Sign Restrictions Model 

    Berument, H.; Denaux, Z.; Yalcin, Y. (Taylor & Francis, 2012)
    This article estimates the effects of monetary policy on components of aggregate demand using quarterly data on Turkish economy from 1987-2008 by means of structural Vector Autoregression (VAR) methodology. This study ...
  • Central Bank Independence and Economic Performance in Eastern Europe 

    Neyapti, B. (Elsevier, 2001-12)
    Following the breakdown of central planning by the early 1990s, transition economies faced varying measures of the need for economic restructuring and stabilisation. This paper examines both the trends in economic performance ...

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