The aim of this paper is to examine different shocks to Israel’s business cycle from 1960 to 2007 in terms of the relationship between military expenditures and inequality, Gini coefficient. We begin with the assumption that there is a direct effect of higher military expenditures on income...

This paper explores how foreign direct investment (FDI) and other determinants impact income inequality in Turkey in the short- and long-run. We apply the ARDL (Auto-Regressive Distributed Lag) modelling approach, which is suitable for small samples. The data for the study cover the years from...

This paper explores how foreign direct investment (FDI) and other determinants impact income inequality in Turkey in the short- and long-run. We apply the ARDL (Auto-Regressive Distributed Lag) modelling approach, which is suitable for small samples. The data for the study cover the years from...

This paper examines the decision of Turkish women to participate in the labor force. We administered a original survey questionnaire in 2009 to 518 non-working women. Employing logistic regression, we found that religious belief is a crucial factor that discourages women from participating in...

This paper examines the long-run impact of foreign direct investment (FDI) on and the other determinants of income inequality in Turkey. Using a linear income inequality model, we apply the (ARDL) approach to cointegration which is more appropriate for estimation in small sample studies. The...

This paper examines the impact of international soccer matches on the Turkish stock market using firm level and sorted portfolio data, i.e. microeconomic evidence. Applying the Edmans et al. (2007) estimation method, we find a significant negative loss effect. However, once using panel data...

Bansal and Yaron (2004) demonstrate, by calibration, that the Consumption-Based Capital Asset Pricing Model (CCAPM) can be rescued by assuming that consumption growth rate follows a stochastic volatility model. They show that the conditional equity premium is a linear function of conditional...

Following the liberalization of financial markets, Goldstein and Razin (2006) show that there is an information based trade-off between foreign direct investment and foreign portfolio investment, our paper examines the causality relations between foreign direct investment and volatility of...

By using the daily values of USD-TL and Euro-TL denominated European call and put option contracts, which are traded in the over-the-counter market, this study investigates whether there is a significant difference among the premiums of the contracts forecasted by historical volatility, EWMA(l...

In this paper, we employ some front page panel unit root tests to examine the validity of the purchasing power parity hypothesis in Turkey. Using monthly observations panel data of nine major county’s currency dates January 2003 through April 2010, we find that panel unit root tests are not...