We perform convergence tests on the U.S. states for per capita income from 1930 to 2009. Crosssectional tests support overall convergence and convergence but may not hold true for the last three decades. Time series tests suggest that about half of the states exhibit stochastic convergence and...

The Variable Rational Partisan Business Cycle model is developed, where agents face uncertainty regarding the timing and outcome of the next election. The model predicts that partisan influences on the economy persist throughout the government's rule and are further influenced, in the opposite...

This paper studies the sustainability of the Ottoman budget for the period from 1680 to 1747, during different sultanates and war eras. Moreover, we investigate whether the relationship between government revenues and expenditures changes in the period of culus. The empirical evidence gathered...

This study examines the dynamics and determinants of inflation in the Ottoman Empire during the 1586-1913 period. There might be two main reasons for inflation: fiscal expansion and monetary expansion where the monetary expansion could be generated through the debasement of local currency...

This paper investigates the nature of the output-employment relationship by using the Turkish quarterly data for the period from 1988 to 2008. Even though we fail to find a long-run relationship between aggregate output and total employment, there are long-run relationships for the aggregate...

This paper investigates how macroeconomic policy shocks in Turkey affect the total unemployment and provides evidence on the differential responses of the unemployment by sectors of economic activity. Our paper extends the previous work in two respects. First, we consider not only the response...