Discussion Papers

The Discussion Papers of the Department of Economics are intended to make the initial results of research by faculty members available to a wider audience so  as to stimulate discussion. It is to be understood that the papers have not gone through a formal editorial review, and that any views and results reported are solely the author(s)' responsibility.

| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996

2008

Number

Author

Title

 08-01  June

Kıvılcım Metin-Özcan and Mustafa İsmihan

     Productivity and Growth in an Unstable Emerging Market

        Economy: The Case of Turkey, 1960-2004  

2007

Number

Author

Title

 07-01 March

 Hakan Berument, Yilmaz Akdi, Seyit Mumin Cilasun and Hasan Olgun

     The Relationship between Different Price Indexes: 

     A Set of Evidence from Inflation Targeting Countries  

07-02 March

Hakan Berument and Ebru Yuksel

Effects of Adopting Inflation Targeting Regimes on Infalation Variablity

07-03 April

Hakan Berument, Nildag Basak Ceylan  and Eray Yucel 

The Differential Sectoral Effects of Policy Shocks: Evidence from Turkey

07-04 April

Hakan Berument, Magda Kandil and Nergiz Dincer

The Effects of Exchange Rate Fluctuations on Economic Activity in Turkey

07-05 June

Taner Yigit and Banu Demir

Announcements and Credibility under Inflation Targeting

07-06 June

Taner Yigit 

Inflation Targeting: An Indirect Approach to Assess the Direct Impact

07-07 June

Taner Yigit and Neil Arnwine

What Fisher Knew About His Relation, We Sometimes Forget

07-08 July

Bilin Neyapti and Nida Cakir

Does Fiscal Decentralization Promote Fiscal Discipline?

07-09 September

Neil Arnwine

Admissible Functional Forms in Monetary Economics


2006

Number

Author

Title

 06-01  January

 Hakan Berument, Bengisu Vural and Başak Ceylan

The Effects of Japanese Economic Performance on Indonesia

06-02 January 

Hakan Berument, Yılmaz Akdi and Cemal Atakan

An Empirical Analysis of Istanbul Stock Exchange Sub-Indexes

06-03 January

Hakan Berument, Seyit Mümin Cilasun and Yılmaz Akdi

The Relationship Between Different Price Indices: Evidence from Turkey

06-04 January

Hakan Berument, Nergiz Dinçer and Hasan Olgun

The Center and Periphery Relations In International Stock Markets

06-05 January

Hakan Berument and Eray Yücel

Production Boosting Effects of Football

06-06 January

Hakan Berument, Esin Gözpınar and Başak Ceylan

Performance of Soccer on the Stock Market:Evidence from Turkey

06-07 January

Hakan Berument, Hasan Olgun and Başak Ceylan

Inflation Uncertainty and Interest Rates: Is The Fisher Relation Universal

06-08 June

Farhad Huseyin

Existence of the core in a heterogeneous divisible commodity exchange economy

06-09  June

Farhad Huseyin

Existence of equilibrium, core and fair division in a heterogeneous divisible commodity exchange economy

06-10 August

Kıvılcım Metin-Özcan and Mustafa İsmihan

The Growth Performance of the Turkish Economy: 1960-2004*


2005

Number

Author

Title

 05-01 January

 E. Kocenda,  Ali M. Kutan, M.   Taner Yigit

Pilgrims to Eurozone: How Far, How Fast

05-02 January

Evren Özgür

Expected Multi-Utility Theorems with Topological Continuity Axioms

05-03 April

Bilin Neyaptı, Nergiz Dinçer

Legal Quality of Bank Regulation and Supervision and its Determinants: A Mixed Sample

05-04 May

Çağla Ökten

The Effects of Privatization on Efficiency: How Does Privatization Work?

05-05 May

M. Uğur Karakaplan, Bilin Neyaptı, Selin Sayek

Aid and Foreign Direct Investment: International Evidence

05-06 

Hakan Berument, M. Eray Yücel and Zübeyir Kilinç

Business Cycles in Turkey and European Union Countries: A Perspective to the Membership

05-07 

Hakan Berument, M. Eray Yücel and Onur Ince

Success in Soccer and Economic Performance: Evidence from Besiktas-Turkey

05-08 

Hakan Berument and Onur Ince

Effect of S&P500’s Return on emerging markets: Turkish Experience

05-09 

Hakan Berument

Measuring Monetary Policy for A Small Open Economy: Turkey

05-10 

Hakan Berument and Nergiz Dinçer

Denomination Composition of Trade and Trade Balance: Evidence from Turkey

05-11 

Hakan Berument and Eray Yücel

Return and Maturity Relationships for Treasury Auctions: Evidence from Turkey

05-12 

Hakan Berument and Burak Dogan

The Asymmetric Effects of Government Spending Shocks: Empirical Evidence from Turkey

05-13 

Hakan Berument and Nergiz Dinçer

The Effects of Exchange Rate Risk on Economic Performance: The Turkish Experience

05-14

Cagla Okten Hasker and Kevin Hasker

Intermediaries and Corruption


2004

Number

Author

Title

04-01 

Mehdi Jelassi and Serdar   Sayan

Implications of Unequal Rates of Population Growth for Trade Revisited: Lessons from Closed Form Solutions to an Overlapping Generations General Equilibrium Model under Autarky and Trade Scenarios

04-02 

M. Taner Yigit & Ali M. Kutan

European Integration, Productivity Growth and Real Convergence

04-03

M. Taner Yigit & Ali M. Kutan

Convergence of Candidate Countries to the European Union

04-04

B. Neyapti and F.Taskin & Murat Ungor

Has European Customs Union Agrement Really Affected Turkey's Trade?

 04-05

B. Neyapti, Kivilcim Metin-Ozcan and Osman Tuncay Aydas

  Determinants of Workers Remittances: The Case of Turkey
 

 04-06

K. Hasker

 The Emergent Seed: Simplifying the Analysis of Dynamic Evolution

04-07

M. Taner Yigit & Ali M. Kutan

Effects of Transition and Political Instability on Foreign Direct Investment Inflows: Central Europe and the Balkans

04-08

N. Arnwine

Fisher Equation and Output Growth


2003

Number

Author

Title

03-01 January

Bilin Neyapti

Fiscal Decentralisation and Macroeconomic Performance: International Evidence

03-02 February

Mehdi Jelassi and Serdar   Sayan 

Implications of Unequal Rates of Population Growth for Trade

03-03 June

Neil Arnwine and Bedriye Cubuk Cicioglu

The Inflation Tax in a Cash-in-Advance Model with Variable Velocity

03-04 August

Cagla Okten
 

Does The Bureaucracy Matter?

03-05 August

Hakan Berument and Hakan Tasci
 

Monetary Policy Rules in Practice Evidence from Turkey

03-06 December

Engelbert Stockhammer

 

The Effect of Wages on Migration From the Habsburg Monarchy to Northern America in 1910


2002  

Number

Author

Title

02-01 January

Serdar Sayan

Dynamic Heckscher-Ohlin Results from a 2x2x2x2 Overlapping Generations Model with Unequal Population Growth Rates

02-02 March

Hakan Berument

Döviz Kuru Hareketleri ve Enflasyon Dinamiği: Türkiye Örneği

02-03 March

Hakan Berument

Inflationary Effect of Crude Oil Prices in Turkey

02-04 February

Hakan Berument
Burak Dogan

Opennes and the Effectiveness of Monetary Policy: Empirical Evidence from Turkey

02-05 July

Kivilcim Metin-Ozcan
Mustafa Ismihan
Aysit Tansel

Macroeconomic Instability, Capital Accumulation and Growth: The Case of Turkey 1963-1999

02-06 July

Kivilcim Metin-Ozcan

Determinants of Private Saving Behaviour in Turkey

02-07

Erdem Basci

Bond Premium in Turkey

02-08

Taner Yigit

Shortfalls of Panel Unit Root Testing

02-09

Taner Yigit

Effects of Uncertainty on Credit Markets

02-10

Taner Yigit

Effects of Moments on Aggregation and Long Memory in Inflation


2001  

Number

Author

Title

01-01 January

Farhad Husseinov

Relative Openness of an Integral of Correspondences: A Characterization of Polyhedral Convex Sets

01-02 February

Syed Mahmud
Eray Yücel

Testing Marshall-Lerner Condition: A Non-Parametric Approach

01-03 March

Ramazan Gencay
Faruk Selcuk

Overnight Borrowing, Interest Rates and Extreme Value Theory

01-04 March

Erdem Basci
Ismail Saglam

Bertrand-Edgeworth Equilibrium in a Cash-Advance Economy

01-05 March

Nur Ata
Erdem Basci

Existence of Competitive Equilibrium under Financial Constraints and Increasing Returns

01-06 March

Alexandr Smirnov

A Model of Government Borrowing and Debt Dynamics in A Transition Economy

01-07 April

Murat R. Sertel
M. Remzi Sanver

Strong Equilibrium Outcomes of Voting Games are the Generalized Condorcet Winners

01-08 May

Serdar Sayan
Ali Emre Uyar 

Directions of Trade Flows and Labor Movements between high-and Low-Population Growth Countries: An Overlapping Generations General Equilibrium Analysis

01-09 October

Hakan Berument

Public Sector Pricing Behavior And Inflation Risk Premium In Turkey

01-10 December

Hakan Berument
Aslı Günay 

Exchange Rate Risk and Interest Rate: A Case Study for Turkey


2000  

Number

Author

Title

00-1 February

Neil Arnwine

Transactions Period Length in Cash-in-Advance Models of Money Demand

00-2 March

Ivan Pastine and 
Tuvana Pastine

Consumption Externalities, Coordination and Advertising

00-3 April

Ivan Pastine and
Tuvana Pastine

Coordination in Markets with Consumption Externalities: The Role of Advertising and Product Quality

00-4 April

Erdem Başçı Ismail Sağlam 

Optimal Money Growth in A Limited Particpation Model with Heterogenous Agents

00-5 April

Erdem Başçı Sıdıka Başçı Gülnur Muradoğlu

Do Extreme Falls Help Forecasting Stock Returns? Evidence From World Markets

00-6 May

Ivan Pastine and 
Tuvana Pastine

A Dynamic Small Open Economy Model of Migration and Real Wages

00-7 May

Bilin Neyaptı

Central bank Independence and Economic Performance in Eastern Europe

00-8 May

Ali Koc
Savaş Alpay

Household Demand in Turkey: An Application of Almost Ideal Demand System with Spatial Cost Index

00-9 June

Ivan Pastine and 
Tuvana Pastine

On Endogenous Leadership in Price Competition

00-10 June

Robert E. Cumby
Tuvana Pastine

Emerging Market Debt: Measuring Credit Quality and Examining Relative Pricing

00-11 June

Nergiz Dincer
Bilin Neyapti

Measuring the Quality of Bank Regulation and Supervision and its Macroeconomic Effects

00-12 August

Kivilcim Metin-Özcan Erinç Yeldan
Ebru Voyvoda 

On the Patterns of Trade Liberalization, Oligopolistic Concentration and Profitablility: Reflections from Post-1980 Tukrish Manufacturing

00-13 November

ErinçYeldan
Ebru Voyvoda 

Financing of Public Education in a Debt Constrained Economy: Investigation of Fiscal Alternatives in an OLG Model of Endogenous Growth for Turkey

00-14 November

Murat Sertel
Ipek Ozkal
Sanver 

Manipulability of the Men-(Women) Optimal Matching Rule via Endowments


 1999

Number

Author

Title

99-1 January

Savaş Alpay

What Do We Know About the Interactions Between Trade and the Environment? A Survey of the Literature

99-2 February

Mahmut İlerisoy 
Syed Mahmud

Real Money Balances in Production Function: A Translog Profit Function Approach

99-3 February

Mehmet Caner

Large Sample Theory for M-Estimators via Empirical Process Methods

99-4 June

Irma Adelman
Erinç Yeldan

The End of The Developmental State? A General Equilibrium Investigation on the Sources of the Asian Crisis within a Multi-Region, Inter-temporal CGE Model forth comingin World Development

99-5 July

Kıvılcım Metin-Özcan
Ebru Voyvoda
Erinç Yeldan

Dynamics of Macroeconomic Adjustment in a Globalized Developing Economy: Growth, Accumulation and Distribution, Turkey 1969-1998

99-6 August

Bilin Neyaptı
Secil Ozgur

The Effects of Fiscal and Monetary Discipline on Budgetary Outcomes: The Case of the European Union

99-7 August

Bilin Neyaptı

Budget Deficits and Inflation: An Analysis in Light of the Roles of Central Bank Independence and Financial Market Development

99-8 August

Erdem Basci
Mehmet Orhan

Reinforcement Learning and Dynamic Optimization

99-9 September

Erdem Basci
Ebru Voyvoda

Bliss and Optimal Growth

 99-10 October

Ümit  Cizre- Sakallıoğlu 
Erinç Yeldan

Dynamics of Macroeconomic Disequilibrium and Inflation in Turkey: The State, Politics, and the Markets under a Globalized Developing Economy

 99-11 October

EbruVoyvoda
Erinç Yeldan

Patterns of Productivity Growth and the Wage Cycle in Turkish Manufacturing

 99-12 November

Levent Akdeniz 
A. Altay Salih 
Mehmet Caner

An Empirical Investigationof Time Varying Betas via Threshold Models

 99-13 December

Semih Koray
Ayca Kaya

A Characterization of Solution Concepts that Implement Monotonic Social Choice Rules


1998  

Number

Author

Title

98-1 January

Xinshen Diao 
Terry Roe 
Erinç Yeldan

Strategic Policies and 
Growth: An Applied Model of R&D-Driven Endogenous Growth
published in Journal of Development Economics 60 (2) (1999) pp. 343-380

98-2 January

Erdem Basci
Ismail Saglam

On the Importance of Sequencing of Markets in Monetary Economies

98-3 February

R.Gencay
Faruk Selcuk

A Visual Test of Normality for Econometric Models

98-4 March

Asad Zaman

Random Coefficients and Heteroskedasticity

98-5 March

Turalay Kenc 
Serdar Sayan

Transmission of Demographic Shock Effects from Large to Small Countries: An Overlapping Generations CGE Analysis
published in Journal of Policy Modeling (23)6 (2001) pp. 677-702

98-6 March

R.Gencay 
Serdar Sayan
Faruk Selcuk

A Visual Test for Noise Filteringin Nonlinear Time Series

98-7 March

Sydney Afriat

Revealed Preference Revealed

98-8 March

R.Gencay
Faruk Selcuk

A Visual Goodness-of-Fit Test for Econometric Models

98-9 April

Bahri Yilmaz

The Role of Trade Strategies for Economic Development: A Comparison of Foreign Trade between Turkey and South Korea

98-10 April

Serdar Sayan

Could Regional Economic Cooperation Generate Trade Creation and Trade Diversion Effects without Altering Trade Policies of Members? Preliminary Results from a Gravity Application toBSEC

98-11 April

Syed Mahmud

The Energy demand in the Manufacturing Industry of Pakistan: Some Further Results

98-12 April

Nazmi Demir
Syed Mahmud

Regional and Technical Efficiency Differentials in the Turkish Agriculture

98-13 April

Syed Mahmud

Monetary Aggregation and Money in Production Function

98-14 May

Sıdıka Başçı 
Asad Zaman

Variance Estimates and Model Selection

98-15 June

Sydney Afriat

Utility Construction-Revisited

98-16 July

Xinshen Diao 
Wenli Li 
Erinç Yeldan

Challenges and Choices inPost-Crisis East-Asia: Simulations of Investment Policy Reform in an Intertemporal, Global Model

98-17 July

Xinshen Diao 
Erinç Yeldan

Interface of Trade Liberalization, Accumulation and Growth in A World of Multi-Polar trade Blocs: Lessons from a Multi-Regional Global General Equilibrium Model

98-18 August

Erdem Basci

Learning by Imitation in the Kiyotaki-Wright Model of Money

98-19 September

Mehmet Caner

Least Absolute Deviation Estimation of a Threshold Model

98-20 October

Semih Koray

Consistent Social Choice Functions Verify Arrow and Gibbard-Satterthwaite Theorems

98-21 November

Mehmet Caner
Bruce E. Hansen 

Threshold Autoregressions with a Near Unit Root

98-22 November

Graduate Students’98  ErinçYeldan

Dynamics of Growth, Accumulation and Distribution in the post-1980 Turkish Economy: A Kaldorian General Equilibrium Interpretation

98-23 December

Mehmet Caner
Lutz Kilian

A Direct test of the Emerging Consensus about Long-Run PPP


1997

Number

Author

Title

97-1 January

Faruk Selcuk

A Brief Account of the Turkish Economy, 1987-1996

97-2 January

Ferhad Husseinov

Boundary Behavior of Excess Demand and Existence of Equilibrium

97-3 January

Nader Habibi 
F. M. Bagheri

Political Institutions and Central Bank Independence: A Cross Country Analysis

97-4 February

Nader Habibi
M. Fardmanesh

The Vulnerability of Expenditure Categories During Budget Cuts

97-5 March

Asad Zaman

Consistency of F-Test and Applications

97-6 March

Asad Zaman

Random Coefficients and Heteroskedasticity

97-7 March

Xinshen Diao 
Erinç Yeldan

On the Construction of an Intertemporal World Model of Growth, Accumulation and Trade: Transitional Dynamics, Calibration Strategy and Simulation Analysis

97-8 July

Haluk Ergin
Serdar Sayan

A Microeconomic Analysis of Slavery in Comparison to Free Labor Economies

97-9 October

Xinshen Diao 
Terry Roe 
Erinç Yeldan

How Trade and R&D Promotion Policies Affect Growth: An Applied General Equilibrium Analysis with Endogenous Growth


1996  

Number

Author

Title

96-1 April

Syed Mahmud

The Energy Demand in the Manufacturing Sector of Pakistan: Some Further Results

96-2 April

Xinshen Diao 
E.H. Elbasha 
Terry L.Roe 
Erinç Yeldan

An R&D Model of Endogenous Growth: Calibration, Steady-State and Transition Path Equilibria

96-3 May

Xinshen Diao 
Terry L.Roe 
Erinç Yeldan

A Simple Dynamic Applied General Equilibrium Model of a Small Open Economy:  Transitional Dynamics and Trade Policy

96-4 May

J. Mercenier 
Erinç Yeldan

On Turkey's Trade Policy: Is A Customs Union with Europe Enough?

96-5 June

Erol Balkan 
Erinç Yeldan

Financial Liberalization in Developing Countries: The Turkish Experience

96-6 July

Murat Yülek

Liberalize to Grow or Growto Liberalize: Japanese Finance and Development During the High GrowthPeriod