A test of wage leadership hypothesis in Turkish manufacturing industry



A quantitative analysis of cost-push shocks and optimal inflation volatility
Senay, Ozge; Sutherland, Alan (Informa UK Limited, 2008-01-01)
This article presents a quantitative analysis of optimal inflation volatility in a simple sticky-price general equilibrium model subject to both supply and cost-push shocks. It is found that optimal policy implies a relatively small degree of inflation volatility even when cost-push shocks are the dominant source of economic disturbance. In addition, it is found that optimal policy generates only a very small welfare gain when compared to strict inflation targeting.
Measuring the impact of trade flows on employment in the Turkish manufacturing industry
Erlat, Güzin (Informa UK Limited, 2000-07-15)
This paper investigates the impact of export and import flows on the change in manufacturing employment using an accounting-identity based approach which enables the change in employment to be decomposed into the contribution made not only by trade but also by domestic consumption and productivity change. The analysis is carried over (i) four subperiods, two belonging to the period before 1980 when Turkey switched from a regime of import-substitution based growth to one of export-orientation, and the other ...
Testing the quantity theory of money in Greece
Ozmen, E (Informa UK Limited, 2003-12-15)
This paper investigates whether the Greek data actually support the monetarist hypotheses as argued by Karfakis. The results based on both ARDL and Johansen procedures consistently suggest that money and nominal income (prices) are endogenous for the parameters of the long-run evolution of velocity (real money balances). Thus, the basic postulation of monetarism, the exogeneity of money, appears not to be supported by the Greek data.
The inflation-hedging properties of Turkish REITs
Erol, Işıl; Tirtiroglu, Dogan (Informa UK Limited, 2008-01-01)
This study empirically tests the inflation-hedging abilities of Turkish REITs in comparison to the indices of common stocks listed on the Istanbul Stock Exchange (ISE) over the period December 1999 to December 2004. Two main factors motivate this study. First, compared to their counterparts in developed capital markets, Turkish REITs have some important tax incentives as well as flexibility in managing their portfolios. Second, the Turkish economy provides a rare and good opportunity to test the hedging beh...
The Granger-causality between health care expenditure and output: a panel data approach
Erdil, Erkan (Informa UK Limited, 2009-01-01)
This study investigates the Granger-causality relationship between real per capita GDP and real per capita health care expenditure by employing a large macro panel data set with a VAR representation. The findings verify that the dominant type of Granger-causality is bidirectional. In instances that we found one-way causality, the pattern is not homogenous: Our analyses show that one-way causality generally runs from income to health in low- and middle-income countries whereas the reverse holds for high-inco...
Citation Formats
E. Erdil, “A test of wage leadership hypothesis in Turkish manufacturing industry,” APPLIED ECONOMICS LETTERS, pp. 219–223, 1997, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/40993.