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    Correlation of -Previous Advertisement Expenses- and -Total Sales-of Firms during the Big Recession
    (Elsevier Science Bv, 2014) Tasar, Izzet; Demirel, Gokce; Kalayci, Irfan
    We know that the global crises that is named Big Recession by IMF first resulted a sharp decrease in total demand. The sharp decrease in total demand is not anything different from the real equilibrium in the consumptions. It is obvious that the market conditions forces the individual consumption to an upper level by its instruments. The most important instrument is Advertisement. Paco Underhill; an environmental psychologist says: If we went into shops only when we needed to buy something, and if once in there we bought only what we needed, the economy would collapse, boom. We will use 20 companies as a sample for our research. We will try to show the correlation between the adv. Expenses and sales and try to find an answer if it is worse or better to make advertisement expenses in the previous period of such a recession. (C) 2014 The Authors. Published by Elsevier B.V.
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    DO GOVERNMENT EXPENDITURES AND TRADE DEFICITS AFFECT EACH OTHER IN THE SAME WAY? EVIDENCE FROM TURKEY
    (Sveuciliste Josipa Jurja Strossmayera & Osijeku, Ekonomski Fak, 2017) Bayat, Tayfur; Kayhan, Selim; Tasar, Izzet; Acci, Yunus
    The purpose of this study is to determine the causality between trade deficits and government expenditure for the Turkish economy in different time horizons and in the case of different shock types between year 1987 and 2014. By doing so, we aim to understand whether the twin deficit hypothesis is valid in the Turkish economy or whether government expenditures have more ability to cause the movements of trade deficit. To do this, we employ asymmetric causality test developed by Hatemi-J (2012) and Hatemi-J and Roca (2014) and rolling windows causality test developed by Balcilaret al. (2010) methods. Results obtained from all tests imply that there is a bi-directional causality between variables. Different from other causality analysis, asymmetric causality analysis results indicate that an increase in government expenditures reduces trade deficit contrarily to existing literature. This means twin divergence hypothesis might be valid in the Turkish economy instead of twin deficit hypothesis.
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    Inflation Targeting for Turkey
    (Elsevier Science Bv, 2015) Tasar, Izzet; Bayat, Tayfur
    In this study, we analyze the behavior of inflation rate in Turkey by using monthly data belonging 2003:M01-2014:M08 period. We employ Markov Switching Auto regression (MSI-AR) approach in order to investigate whether the monetary authorities have asymmetric behaviors. Results imply that the Central Bank of the Republic of Turkey plays active or inactive role in the economy due to economic conditions. (C) 2015 Published by Elsevier B.V.
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    The key elements of local development
    (Elsevier Science Bv, 2014) Kisman, Zulfukar Aytac; Tasar, Izzet
    Local Development nowadays is been thought as the key supporting element for the total development and social cohesion. Implementing local development by means of the specific institutions, such as Development Agencies, specially designed and established for this purpose is the most effective and convenient way for accomplishing the expected benefits from local development. Local Development has several reinforcing poles. Without underestimating the other factors important for local development, three main poles can be stated as the most crucial elements for local development, namely the market knowledge and experience, academic ground and internationalisation. Regarding the content and the necessities of local development, these three factors are considerably important. In order to achieve a total development and a beneficial social cohesion, local development is seen as among the most effective path. By well-understanding the key elements for local development and by deploying the accurate and built on purpose institutions, the local development can be succeeded and sustained. (C) 2014 The Authors. Published by Elsevier B.V.
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    Re-Visiting Fisher Effect for Fragile Five Economies
    (De Gruyter Poland Sp Zoo, 2018) Bayat, Tayfur; Kayhan, Selim; Tasar, Izzet
    In this study, we aim to investigate the relationship between interest rate and inflation rate in the context of the Fisher effect hypothesis for Fragile five economies. In this regard, we employ recently developed panel co-integration and panel causality test methods. The bi-directional causal relation between interest rate and inflation rate exists only in Brazil and Indonesia. On the other hand, there is no causation linkage in India. Results imply that Fisher effect exists only in Brazil and Indonesia.
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    SYMMETRIC AND ASYMMETRIC EFFECTS OF MONETARY POLICY SHOCKS ON OUTPUT IN BRICS COUNTRIES: EVIDENCE FROM HIDDEN PANEL COINTEGRATION
    (Editura Ase, 2021) Bayat, Tayfur; Tutgun, Seyhun; Tasar, Izzet
    Monetary policy and its possible effects on total output has been discussed both theoretically and empirically by many economic schools within the framework of economic theory. This study questions the symmetric and asymmetric effects of monetary policy shocks on output in the BRICS countries for the period of 1997-2019 were analyzed using hidden panel data method. According to the empirical analysis results, monetary policy does not have a symmetrical effect on output. Asymmetric effects on the other hand valid from negative and positive shocks of monetary policy to positive and negative shocks of output respectively in the short and also in the long run.