Bilgilendirme: Sürüm Güncellemesi ve versiyon yükseltmesi nedeniyle, geçici süreyle zaman zaman kesintiler yaşanabilir ve veri içeriğinde değişkenlikler gözlemlenebilir. Göstereceğiniz anlayış için teşekkür ederiz.

İktisat Bölümü

Permanent URI for this communityhttps://hdl.handle.net/20.500.12416/23

Browse

Browsing İktisat Bölümü by Author "Çorakçı, Ayşegül"

Filter results by typing the first few letters
Now showing 1 - 3 of 3
  • Thumbnail Image
    Article
    Is there a Purchasing Power Parity (PPP) Puzzle? New Evidence from a Nonlinear Asymmetric Panel Unit Root Test
    (2016) Çorakçı, Ayşegül; 103299; 03.03. İktisat; 03. İktisadi ve İdari Birimler Fakültesi; 01. Çankaya Üniversitesi
    This study re-examines the validity of the purchasing power parity (PPP) hypothesis for 24 OECD countries. The econometric methodology implemented not only allows for asymmetric nonlinear mean reversion within a panel context, but also corrects for the cross-sectional dependence bias frequently encountered in panel data. This feature is important because a test that ignores the presence of asymmetry and cross-sectional dependence when they are in fact present in the data would lead to misleading results. We obtain relatively stronger evidence in favor of the PPP hypothesis when compared to the other alternative panel unit root tests. However, on the whole, this support is still weak even after allowing for asymmetric nonlinear mean reversion in the real exchange rate series. Therefore, to reconcile the data with the theory further methods should be developed.
  • Thumbnail Image
    Article
    Is there convergence in renewable energy deployment? Evidence from a new panel unit root test with smooth and sharp structural breaks
    (2023) Çorakçı, Ayşegül; Omay, Tolga; 103299; 08.02. Çankaya Meslek Yüksekokulu; 03.03. İktisat; 03. İktisadi ve İdari Birimler Fakültesi; 08. Meslek Yüksekokulları; 01. Çankaya Üniversitesi
    This study examines whether the contribution of renewable energy to the total primary energy supply converges in a panel of 24 OECD countries over the period 1960–2020. To this end, a new panel unit root test that allows for both sharp and smooth breaks is proposed to test for the stochastic convergence hypothesis. Although renewable energy convergence is not rejected when the newly proposed test is applied to the full panel of OECD countries, it found only moderate support within the members of the panel using a sequential panel selection methodology. In fact, in two high-income OECD countries, the contribution of renewable energy to the primary energy supply shows no sign of convergence: Poland and Iceland. Therefore, the renewable energy shares seem to be converging to a common steady state in only a group of OECD countries over the long run. This uneven pattern of convergence, in turn, suggests that the OECD countries are still far away from developing a common sustainable renewable energy target, calling for urgent international policy cooperation to encourage the divergent economies to seek out the menu of policies that ensure the worldwide success of renewable energy transformation.
  • Thumbnail Image
    Article
    Terrorism and the Stock Market: A Case Study for Turkey Using STR Models
    (2014) Çorakçı, Ayşegül; Omay, Tolga; 103299; 08.02. Çankaya Meslek Yüksekokulu; 03.03. İktisat; 03. İktisadi ve İdari Birimler Fakültesi; 08. Meslek Yüksekokulları; 01. Çankaya Üniversitesi
    Several attempts have been made in the literature to analyze the detrimental effects of terrorist activities on the stock market. However, in neither of these studies the effects of terrorist activities on stock returns are investigated through employing nonlinear models in spite of the fact that most financial data is shown to exhibit nonlinear behaviour. This study, therefore, aims to contribute to this growing area of research by exploring the potential nonlinear effects of terrorist activities on stock returns by employing smooth transition regression (STR) models. Our results show that terrorism has a statistically significant negative effect on the stock index when the intensity of terrorist activities passes a certain threshold level. This negative effect continues for terrorist activities below this threshold level, but becomes statistically insignificant. This study by conducting the analysis within a nonlinear framework offers important insights into the investors who want to make portfolio diversification strategies against terrorism risk.