Born 1976, Ankara, Turkey. Received his Ph.D. in Economics at Bilkent University in 2005. Served as an Economist at the Central Bank of Turkey (2003-2013) and as the Managing Editor of the Central Bank Review (2005-2013). Yucel has articles published by International Finance Review, Applied Economics, Contemporary Economic Policy, Emerging Markets Finance and Trade, Czech Journal of Economics and Finance, Rivista Internazionale di Scienze Economiche e Commerciali, Journal of Economic Psychology, Fiscal Studies, Weltwirthschaftliches Archiv and Applied Economics Letters.
We seek to demonstrate the variations in the exchange rate pass‐through (ERPT) and identify the s... more We seek to demonstrate the variations in the exchange rate pass‐through (ERPT) and identify the shift in the price‐setting behavior by placing the emphasis on the implemented exchange rate and monetary policy regimes. Having a history of several distinct monetary regimes, Turkey exhibits a genuine laboratory in this respect. Our empirical results reveal that the pass‐through from exchange rates to domestic prices has changed dramatically. We detect breaks in the pass‐through coefficients at three episodes, all of which coincide with a shift in monetary/exchange rate regime, lending support to the view that monetary and exchange rate regimes might be among the major determinants of the ERPT process. (JEL C51, E31, E58)
Bu calismada, Turkiye’de hanehalki zaruri harcamalari (gida ve alkolsuz icecekler, saglik ve egit... more Bu calismada, Turkiye’de hanehalki zaruri harcamalari (gida ve alkolsuz icecekler, saglik ve egitim) ile hanehalki kullanilabilir geliri, hanehalki buyuklugu (hanede yasayan bireylerin sayisi), hanehalki tipi, ikamet edilen konutun mulkiyet tipi ve hanehalkinin cografi yerlesim birimi (kir/kent) arasindaki iliskinin ortaya konulmasi amaclanmistir. Bu amaca yonelik olarak, 2008 ve 2010 yillarina ait TUIK Hanehalki Butce Anketi verileri uzerinde parametrik olmayan cekirdek kestirim teknigi kullanilarak cesitli tahminler uretilmistir. Yapilan analizler sonucunda ulasilan temel sonuc gelir yukseldikce zaruri harcamalarin gelir esnekliginin dustugu, harcamalarin gelirden bagimsiz bilesenini baskilayan bir faktorun var olmasi durumunda ise (orta buyuklukte aile sahibi olmak, kentte yasamak, kirada ikamet etmek) gelir esnekliginin daha yuksek oldugudur. Oyle ki, orta buyuklukteki hanelerde kucuk hanelere kiyasla gelirden bagimsiz olarak harcamalar dusuk; harcamalarin gelir esnekligi yuksek, ayni sekilde, kentsel hanehalkinin kirsal hanehalkina gore; kirada oturan hanehalkinin da kendi mulkiyetindeki bir evde yasayan hanehalkina gore otonom zaruri harcamalarinin dusuk, harcamalarinin gelir esnekliginin ise yuksek oldugu gorulmustur.
Bu çalışma Türk futbol takımlarının Avrupa kupalarında elde ettikleri başarıların insanlar üzerin... more Bu çalışma Türk futbol takımlarının Avrupa kupalarında elde ettikleri başarıların insanlar üzerindeki psikolojik etkilerini sanayi üretimini verimliliğini kullanarak araştırmaktadır. Mutlu Çalışan Hipotezi'nce çalışanların Psikolojik Durumu (PD)'nu olumlu ve olumsuz yönde ...
Abstract The composition of bank liabilities has captured a lot of attention especially after the... more Abstract The composition of bank liabilities has captured a lot of attention especially after the global financial crisis of 2008–2009. It is argued that a compositional change in non-core liabilities reflects the different stages of financial cycle. Banks usually fund their credits with core liabilities, which grow with households’ wealth, but when there is a faster growth in credits compared to deposits, the banks often resort to non-core liabilities to meet the excess demand for loans. This chapter analyses the relationship between non-core liabilities and credits in a small open economy, namely Turkey. It investigates the relationship under alternative settings and presents consistent evidence on a robust relationship between credits and non-core liabilities under all frameworks. The study also verifies that elevated demand for credit may induce some increase in non-core liabilities. Finally, the relationship between non-core liabilities and credit growth is also affirmed in the long run.
We seek to demonstrate the variations in the exchange rate pass‐through (ERPT) and identify the s... more We seek to demonstrate the variations in the exchange rate pass‐through (ERPT) and identify the shift in the price‐setting behavior by placing the emphasis on the implemented exchange rate and monetary policy regimes. Having a history of several distinct monetary regimes, Turkey exhibits a genuine laboratory in this respect. Our empirical results reveal that the pass‐through from exchange rates to domestic prices has changed dramatically. We detect breaks in the pass‐through coefficients at three episodes, all of which coincide with a shift in monetary/exchange rate regime, lending support to the view that monetary and exchange rate regimes might be among the major determinants of the ERPT process. (JEL C51, E31, E58)
Bu calismada, Turkiye’de hanehalki zaruri harcamalari (gida ve alkolsuz icecekler, saglik ve egit... more Bu calismada, Turkiye’de hanehalki zaruri harcamalari (gida ve alkolsuz icecekler, saglik ve egitim) ile hanehalki kullanilabilir geliri, hanehalki buyuklugu (hanede yasayan bireylerin sayisi), hanehalki tipi, ikamet edilen konutun mulkiyet tipi ve hanehalkinin cografi yerlesim birimi (kir/kent) arasindaki iliskinin ortaya konulmasi amaclanmistir. Bu amaca yonelik olarak, 2008 ve 2010 yillarina ait TUIK Hanehalki Butce Anketi verileri uzerinde parametrik olmayan cekirdek kestirim teknigi kullanilarak cesitli tahminler uretilmistir. Yapilan analizler sonucunda ulasilan temel sonuc gelir yukseldikce zaruri harcamalarin gelir esnekliginin dustugu, harcamalarin gelirden bagimsiz bilesenini baskilayan bir faktorun var olmasi durumunda ise (orta buyuklukte aile sahibi olmak, kentte yasamak, kirada ikamet etmek) gelir esnekliginin daha yuksek oldugudur. Oyle ki, orta buyuklukteki hanelerde kucuk hanelere kiyasla gelirden bagimsiz olarak harcamalar dusuk; harcamalarin gelir esnekligi yuksek, ayni sekilde, kentsel hanehalkinin kirsal hanehalkina gore; kirada oturan hanehalkinin da kendi mulkiyetindeki bir evde yasayan hanehalkina gore otonom zaruri harcamalarinin dusuk, harcamalarinin gelir esnekliginin ise yuksek oldugu gorulmustur.
Bu çalışma Türk futbol takımlarının Avrupa kupalarında elde ettikleri başarıların insanlar üzerin... more Bu çalışma Türk futbol takımlarının Avrupa kupalarında elde ettikleri başarıların insanlar üzerindeki psikolojik etkilerini sanayi üretimini verimliliğini kullanarak araştırmaktadır. Mutlu Çalışan Hipotezi'nce çalışanların Psikolojik Durumu (PD)'nu olumlu ve olumsuz yönde ...
Abstract The composition of bank liabilities has captured a lot of attention especially after the... more Abstract The composition of bank liabilities has captured a lot of attention especially after the global financial crisis of 2008–2009. It is argued that a compositional change in non-core liabilities reflects the different stages of financial cycle. Banks usually fund their credits with core liabilities, which grow with households’ wealth, but when there is a faster growth in credits compared to deposits, the banks often resort to non-core liabilities to meet the excess demand for loans. This chapter analyses the relationship between non-core liabilities and credits in a small open economy, namely Turkey. It investigates the relationship under alternative settings and presents consistent evidence on a robust relationship between credits and non-core liabilities under all frameworks. The study also verifies that elevated demand for credit may induce some increase in non-core liabilities. Finally, the relationship between non-core liabilities and credit growth is also affirmed in the long run.
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