107 research outputs found
Money supply determination process for Japan
No full textThis study re-investigates the money supply determination process for Japan. The methodology of this study, which differs from previous studies, is constructed on the assumption of potential nonlinear (asymmetric) relations between money supply and monetary base via money multiplier. To this aim, the nonlinear autoregressive distributed lag (ARDL) model by Shin, Yu and Greenwood-Nimmo, (2014) is applied. This model allows us to examine the endogeneity and exogeneity of the money supply determination process via the linkage of the money multiplier under expansionary and contractionary monetary policies of the Bank of Japan (BOJ) separately in a nonlinear manner. The main findings of the study indicate that the money supply determination process is endogenous with an unstable money multiplier for Japan for M1. However, this endogeneity in the BOJ's contractionary monetary policy is more than its expansionary policy. This can be interpreted that the BOJ's expansionary monetary policy has more of a determining role on money supply determination than its contractionary monetary policy. Additionally, the same findings indicate that the BOJ has more power to determine M1 than M2. This result can be interpreted that when the measure of money broadens the BOJ's controllability on money supply decreases. In contrast, in our Canadian study (Ongan and Gocer, 2019) with the same nonlinear ARDL model, we concluded that the Canadian central bank (BOC) was able to determine money supply exogenously for M1, unlike the Japanese central bank (BOJ), and the money multiplier was stable for Canada
Shards: A Reading
Full text linkA reading by Ismet Prcić from his debut novel Shards. Followed by a question-and-answer session with the author
The Effect of Openness on Economic Growth for BRIC-T Countries: Panel Data Analysis
No full textIn this study, the effect of trade openness on economic growth was searched for the
most rapidly developing countries (emerging markets; Brazil, Russia, India, China
and Turkey, BRIC-T) via panel data analysis by using the annual data of the period
from 1989 to 2010. As trade openness variable, the rate of external trade (Export+
Import) to GDP was used. According to empirical evidence derived from the study
made with panel data analysis it was found that the effect of openness on economic
growth was positive, and statistically significant in line with theoretical
expectations
The life, pedagogy of İsmet Kür and the contribution to the Turkish children literature
No full textBu çalışmada İsmet Kür'ün hayatından, eğitimle ilgili görüşlerinden, çocuk edebiyatına dair fikirlerinden ve bu alanda verdiği eserlerden bahsedilmiştir. Kendisi eğitimci, romancı, oyun yazarı, hikâyeci, şair, gazeteci ve araştırmacıdır. Onun eğitimle ilgili görüşleri aile, okul ve devlet üçgeninde şekillenir. İsmet Kür'ün kaleme aldığı sekiz romanın yedisi çocuklara yöneliktir. Sanatçı, çocuklar için tiyatro oyunları da kaleme almıştır. Romanlarında ve oyunlarında gerçekçi öyküler anlatmak suretiyle çocukları eğlendirerek eğitmeyi amaçlar. İsmet Kür'ün çocuklara yönelik eserlerinin yanında yetişkinler için kaleme aldığı şiir ve hikâyeleri de mevcuttur. Ayrıca sanatçı, pek çok yazar gibi gazetecilikle de uğraşmış çeşitli gazetelerde köşe yazarlığı yapmıştır. Bütün bu çalışmalarına ek olarak İsmet Kür'ün araştırma ve incelemeleri de bulunmaktadır. Bunların en önemlisi 1869-1928 yılları arasında yayımlanan çocuk dergilerini araştırıp incelemesidir. Kısaca İsmet Kür, çok yönlü bir eğitimci, sanatçı ve araştırmacıdır. Çocuk edebiyatı alanında çeşitli türlerde eserler vererek Türk çocuk edebiyatına önemli katkılar sağlamıştır.In this study, the life, the comments about education and children literature of İsmet Kür and works on these fields are mentioned. İsmet Kür is educationist, novelist, author, poet, journalist and researcher. Her ideas about education is formed as family, school and government triangle. Seven novels of her works is intended to children. Also, she write a theatre play for children. İsmet Kür aims to educate children by amusing them by telling the realist stories in her novels. Besides novels, İsmet Kür has poems and tales for adults. Furthermore, she worked as columnist in various newspapers. In addition to these, İsmet Kür has a researches and surveys. The most important one is researches on children journal in the years between 1869-1928. In short, İsmet Kür is sophisticated educationist, artworker and researcher. She has made important and useful contributions to Turkish children literature by giving various kinds of works on children literature
The Relationship between Inflation and Interest Rates in the UK: The Nonlinear ARDL Approach
No full textThis study reconsiders the Fisher effect for the UK from a different methodological perspective. To this aim, the nonlinear ARDL model recently developed by Shin et al. (2014), is applied over the periods of 1995M1-2008M9 and 2008M10-2018M1. This model decomposes the changes in original inflation series as two new series: increases and decreases in inflation rates. Hence, it enables us to examine the Fisher effect in terms of increases and decreases in inflation separately. The empirical findings support asymmetrically partial Fisher effects for the UK in the long-run only for the first period. Additionally, this study attempts to describe and introduce a different version of the partial effect concept for the first time for the UK
TESTING THE CAUSALITIES BETWEEN ECONOMIC POLICY UNCERTAINTY AND THE US STOCK INDICES: APPLICATIONS OF LINEAR AND NONLINEAR APPROACHES
No full text This study aims to investigate the causal relationships between the economic policy uncertainty (EPU) index and the US stock indices the S&P 500, Dow Jones and Nasdaq 100 over the period of 1985M10–2016M12. To this aim, it is applied both linear causality and the nonlinear rolling window causality tests. The long-run analyses are also applied to reveal the elasticities of the US stock indices. The empirical findings indicate that both the linear and the nonlinear approaches support the evidence of causal relationships from the US EPU index to all the US stock indices. Additionally, it is also found some evidences of causal relationships from these three US stock indices to the US EPU index especially between 2008–2013 in the latest financial crisis and in the late 2016. The results indicate that the Nasdaq 100 index is mostly affected from the US EPU index both in the short and long-runs. </jats:p
Re-examining the stability of money multiplier for the US: the nonlinear ARDL model
Full text linkThe rising uncertainties in the economy and the entwined global financial markets can easily cause nonlinear (asymmetric) behaviors among economic actors. Accordingly, this study re-considers the stability of the money multiplier from a different methodological perspective from that of prior studies, which assumed a linear relationship between money supply and monetary base. To this aim, the nonlinear ARDL model is applied for the US for the 2000M1-2018M9 period. Empirical findings of the nonlinear model indicate that only increases in positive monetary base shocks have a proportional relation with money supply. Additionally, the nonlinear ARDL detects proportional relationships between money supply and monetary base lower degree than the linear model
The Reasons and Economic and Political Consequences of Arab Spring
Full text linkMENA has always attracted great powers due to its central location, bearing crucial
waterways as well as housing divine places of three major religions (Islam,
Christianity and Judaism). MENA region possesses 54% of world oil and natural
gas resources. Natural gas is transferred from North African countries like Libya
and Algeria to Europe through pipelines and ships
Impacts of trade policy uncertainties on US-China bilateral trade
No full textThe escalating Sino-US trade war has led to a global economic contraction and increased trade policy uncertainties. This study examines the impacts of the US and China’s Trade Policy Uncertainties (TPU Indexes) on these countries’ Bilateral Trade Balances (BTBs). Empirical findings reveal that both increases and decreases in the TPU Indexes of both the US and China significantly affect their respective BTBs. Furthermore, it can be concluded that China’s trade policy or Chinese exporters-importers react to China’s trade policy uncertainty within China more than the US trade policy or US exporters-importers to US trade policy uncertainty within the USA. Another important conclusion is that China’s trade policy or exporters-importers react more to their own trade policy uncertainty than the US’s trade policy uncertainty within China. The policy implications generated from the empirical findings of this study for policymakers in both countries are presented in the paper’s final section
Does trade policy related uncertainty affect international trade? Evidence from the US-China commodity trade
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