Browsing by Subject "Ratchet effect"

Now showing 1 - 3 of 3

Open Access
Analyzing the persistence of currency substitution using a ratchet variable: the Turkish case
(Routledge, 2003) Us, V.
Although previous studies on currency substitution in Turkey confirm the existence of currency substitution, these works ignore whether this process reached an irreversible stage or not. This paper analyzes the persistence of currency substitution in Turkey through inclusion of a ratchet variable, the past peak value of the currency substitution. Results using an autoregressive distributed lag (ARDL) approach suggest that currency substitution during 1990-93 is not persistent enough to be irreversible. During 1995-99, even though currency substitution in the narrow sense is persistent, currency substitution in the broader sense is not irreversible. Therefore, there is still room for effective monetary policy.
Open Access
Current enhancement and negative differential conductance in parallel quantum dot systems
(American Institute of Physics, 2011) Tanatar, Bilal; Moldoveanu V.
We present calculations on the transport properties of a double quantum dot (DQD) capacitively coupled to another individually biased dot. The effects of the intradot and interdot Coulomb interaction are included within the random-phase approximation (RPA) implemented in the Keldysh formalism. We show that by increasing the bias on the nearby dot the inelastic Coulomb scattering modifies the current in the double dot. The sign of the current depends on the detuning of the double dot levels and intradot transitions lead to negative differential conductance. The enhancement of the current due to the energy quanta transferred from the strongly biased dot suggests a quantum ratchet or Coulomb drag mechanism. © 2011 American Institute of Physics.
Open Access
Three essays on inflation and monetary policy in Turkey
(2003) Us, Vuslat
This dissertation analyzes three studies on inflation dynamics and monetary policy alternatives in Turkey. In the first article, inflation inertia is analyzed. To this aim, expectations are assumed to be formed optimal univariate in a staggared contracts model setting,. An alternative assumption, which then would be subject to Lucas critique, is that expectations are naive. Consequently, the analysis favors the first alternative to the latter one in explaining high and persistent inflation. In the second study, the degree of currency substitution is analyzed by using various definitions. More specifically, ratchet effect in currency substitution is studied by Autoregressive distributed lag (ADL) procedure. The statistical evidence suggests that even though currency substitution has been persistent at an increasing degree, the economy at large has not been irreversibly dollarized yet. The final study of this dissertation discusses monetary transmission mechanism in a small structural model setting. In this framework, using various simulations the implementation of a standard Taylor Rule is analyzed. The alternative proposal is the use a monetary conditions index as a policy rule. The results show that the second alternative is preferable since the economy is then exposed to lessened volatility.