3+1 Essays on the Turkish economy

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buir.advisorBerument, Hakan
dc.contributor.authorYĆ¼cel, Mustafa Eray
dc.date.accessioned2016-07-01T11:04:11Z
dc.date.available2016-07-01T11:04:11Z
dc.date.issued2005
dc.departmentDepartment of Economicsen_US
dc.descriptionCataloged from PDF version of article.en_US
dc.description.abstractThis dissertation comprise of four essays. The first essay studies the relationship between treasury auction maturity and auction interest rates. Using the Turkish auction data from 1988 to 2004, a reciprocal linkage between auction interest rates and maturities is observed, especially for the 1995-2000 period. This suggests that under an adverse shock, treasury decreases the auction maturity in order not to increase interest rates too much. A change in this reciprocal relationship is also reported for the post-2001 era. The second essay assesses the effect of USD-Euro parity on a small open economy for an economy where its exports are predominantly denominated in Euros and imports are denominated in USD. The empirical evidence suggests that a positive innovation in USD-Euro parity appreciates the local currency, decreases inflation and increases output. The third essay studies the relationship between on-budget and off-budget expenditures in Turkey and concludes that information content of the budget deficit statistics is not empty; however, it might be misleading in assessing fiscal stance for Turkey. The final essay investigates the connection between Turkish industrial production performance and the success of a popular Turkish football team, namely Fenerbahce. The success of Fenerbahce is interpreted as a proxy for the workers' mood or morale. Performing a transfer function analysis on my monthly data set, I reveal a positive feedback from Fenerbahce's success, which proxies workers' mood/morale, to economic performance. Evidence of the effects of games against domestic rivals on industrial performance is not statistically significant.en_US
dc.description.degreePh.D.en_US
dc.description.statementofresponsibilityYĆ¼cel, Mustafa Erayen_US
dc.format.extentxi, 127 leaves, tablesen_US
dc.identifier.itemidBILKUTUPB094325
dc.identifier.urihttp://hdl.handle.net/11693/29729
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectConfidence crisisen_US
dc.subjectDebt managementen_US
dc.subjectDebt maturity and Yield curveen_US
dc.subjectUSD-Euro Parityen_US
dc.subjectOutputen_US
dc.subjectInflationen_US
dc.subjectAnd Real Exchange Rateen_US
dc.subjectConsolidated Budgeten_US
dc.subjectPublic Sector Borrowing Requirementen_US
dc.subjectFiscal Stanceen_US
dc.subjectVector Auto Regressionen_US
dc.subjectMooden_US
dc.subjectMorale and Productivityen_US
dc.subject.lccHC492 .Y835 2005en_US
dc.subject.lcshDebt management.en_US
dc.title3+1 Essays on the Turkish economyen_US
dc.typeThesisen_US

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