Browsing Economics by Title
Now showing items 3-22 of 60
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The asymmetric impact of oil prices, interest rates and oil price uncertainty on unemployment in the US
(Elsevier, 2020-02-01)In this study, we investigate the presence of asymmetric interactions between oil prices, oil price uncertainty, interest rates, and unemployment in a cointegration framework. Utilizing the nonlinear auto-regressive ... -
Bank regulation under fire sale externalities
(Oxford University Press, 2020-06)We examine the optimal design of and interaction between capital and liquidity regulations. Banks, not internalizing fire sale externalities, overinvest in risky assets and underinvest in liquid assets in the competitive ... -
Catching up or drifting apart: convergence of household and business credit in Europe
(Elsevier, 2017)We provide evidence for convergence in the levels of household and business credit across European countries. The process is particularly strong for the transition countries that have a low initial level of private credit ... -
Characterizing the TTC rule via pair-efficiency: A short proof
(Elsevier, 2024-01)In the object reallocation problem, Ekici (2023) showed that Top Trading Cycles (TTC) is the unique rule that is strategyproof, individual-rational, and pair-efficient. We provide a short proof of this characterization result. -
A comparison of optimal policy rules prior to and during inflation targeting: empirical evidence from Bank of Canada
(Taylor & Francis, 2017)We examine policy rules that are consistent with inflation targeting (IT) framework in a small macroeconomic model of the Canadian economy. We set up an optimal linear regulator problem and derive policy rules to compare ... -
Corporate sustainability interactions: A game theoretical approach to sustainability decisions
(Elsevier, 2019-12)Recent global developments lead companies to include into their strategic plans not only economic sustainability but environmental and social sustainability as well. Companies have been investing in environmental and social ... -
Costly switching from a status quo
(Elsevier, 2018-12)We axiomatically characterize a theory of status quo-dependent choice where an agent faces switching costs that depend upon both the status quo and the alternative he switches to. In a choice problem with a status quo, the ... -
Credit decomposition and business cycles in emerging market economies
(Elsevier, 2016)This paper analyzes the differential effects of household and business credit dynamics on business cycles in emerging market economies. We first provide evidence that existing results relating credit expansions to economic ... -
Damaged durable goods, upgrades, and the coase conjecture
(Mohr Siebeck, 2018-12)This study analyzes a damaged-goods market for a perfectly durable good in an infinite-horizon, discrete-time game. We characterize Markov perfect equilibria of this game under different buyer upgrade possibilities as a ... -
Domine edilen statükonun referans etkisi
(Okan Üniversitesi, 2018-05)Statüko, bir kişinin şu anki konumunu temsil eder. Çalışılan iş ve yaşanılan şehir statüko için verilebilecek örnekler arasındadır. Bir statüko, kendi seçilmese bile, diğer alternatifler arasındaki göreceli sıralamayı ... -
Dynamic durable goods monopoly and market power
(MDPI, 2020-06)We analyze a vertically differentiated market for an imperfectly durable good served by a monopolist in an infinite-horizon, discrete-time game. Our goal is to identify the Markov perfect stationary equilibria where the ... -
Dynamic moral hazard with sequential tasks
(Elsevier, 2019-10)We study a sequential agency problem with hidden actions in an infinite horizon dynamic setting. The principal has a project that requires completion of two sequential tasks where the predecessor must be finished before ... -
The effect of hosting 3.4 million refugees on native population mortality
(Elsevier, 2021-12)As of the end of 2017, 3.4 million Syrian refugees lived in Turkey. These refugees left a country where the health system was utterly broken. Several studies report that Syrian refugees faced numerous diseases during their ... -
Effectiveness of monetary policy: evidence from Turkey
(Springer International Publishing, 2017-08)An effective monetary policy framework is often viewed as a pre-condition for well-functioning financial markets. Yet measuring monetary policy effectiveness is not straightforward; it requires empirical work to understand ... -
Emerging market economies and the world interest rate
(Elsevier, 2015-11)We use a Factor Augmented VAR model to estimate the dynamic responses of interest rates in emerging market economies to the ‘world’ interest rate, which we extract from a dynamic factor model of yields in industrialized ... -
An equilibrium analysis of the probabilistic serial mechanism
(Springer Science+Business Media, 2016-08)The prominent mechanism of the recent literature in the assignment problem is the probabilistic serial (PS). Under PS, the truthful (preference) proÖle always constitutes an ordinal Nash Equilibrium, inducing a random ... -
Estimation of dynastic lifecycle discrete choice models
(Wiley, 2018-11)This paper explores the estimation of a class of life‐cycle discrete choice dynastic models. It provides a new representation of the value function for these class of models. It compare a multistage conditional choice ... -
An experiment on aspiration-based choice
(Elsevier, 2015-11)This paper experimentally studies the influence of aspirations on choice. Motivated by the theoretical model of Guney et al. (2015), we consider choice problems which may include unavailable alternatives. In a choice ... -
Financial development convergence
(Elsevier, 2015-07)We show that credit levels relative to GDP and other measures for financial development tend to converge across countries over time. The results are obtained using a broad sample of countries over many years and controlling ... -
Firm boundaries, incentives, and fund performance: Evidence from a private pension fund system
(Elsevier, 2020-06)The private pension fund system in Turkey presents a unique institutional structure where bank holding companies can own both private pension companies and asset management firms. More often than not, pension companies ...
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