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Bankacılık ve Sigortacılık Bölümü

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Browsing Bankacılık ve Sigortacılık Bölümü by Journal "Economic Modelling"

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    Citation Count: Omay, T. Kan, E.Ö. (2010). Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies. Economic Modelling, 27(5), 996-1005. http://dx.doi.org/10.1016/j.econmod.2010.04.011
    Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies
    (Elsevier Science Bv, 2010) Omay, Tolga; Kan, Elif Öznur
    This paper analyzes the empirical relationship between inflation and output growth using a novel panel data estimation technique, Panel Smooth Transition Regression (PSTR) model, which takes account of the non-linearities in the data. By using a panel data set for 6 industrialized countries that enable us to control for unobserved heterogeneity at both country and time levels, we find that there exists a statistically significant negative relationship between inflation and growth for the inflation rates above the critical threshold level of 2.52%, which is endogenously determined. Furthermore, we also control cross-section dependency by using the CD test modified to non-linear context and remedy cross-section dependency with Seemingly Unrelated Regression Equations through Generalized Least Squares (SURE-GLS) and newly proposed Common Correlated Effects (CCE) estimation techniques. We find that these methods change the critical threshold value slightly. The estimated threshold values from these estimation methods are 3.18% and 2.42%, respectively. (C) 2010 Elsevier B.V. All rights reserved
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    Citation Count: Ucar, Nuri; Guler, Huseyin, "Testing stochastic income convergence in seasonal heterogeneous panels", Economic Modelling, Vol. 27, No. 1, pp. 422-431, (2010).
    Testing Stochastic Income Convergence In Seasonal Heterogeneous Panels
    (Elsevier, 2010) Uçar, Nuri; Güler, Hüseyin; 189073
    In this paper we introduce a seasonal version of the Solow-Swan growth model and acquire an empirical income convergence equation. We take this equation as a basis to investigate whether income convergence exists in an OECD sample. To do this, we propose the test statistics under various asymptotic properties for some of the seasonal frequencies in the context of nonstationary heterogeneous panels. Critical values and moments of our statistics are generated and their finite sample performances are examined via Monte Carlo simulations. (C) 2009 Elsevier B.V. All rights reserved.