This paper explores relative price convergence for 18 cities in Turkey. The convergence implies stationarity in the long run. Henceforth, to observe whether price convergence occurs or not, this study conducts unit root tests following Lee and Strazicich (2003) with two structural breaks in...

The purpose of this paper is to analyze the short run and long run effects of fiscal policy. The classical-Harrodian model developed in Moudud (2000, 1999), which is an extension of Shaikh (1995, 1992, 1991), provides a demonstration of dynamic fiscal policy context. It asserts that the there is...

This study examines the direct tests of the Rational Expectations Hypothesis (REH). Pesando (1975) employs the Livingston survey data of business economists and reaches the rejection of rationality and consistency but not rejection of the efficiency. Analyzing the same data, Carlson (1977)...

This paper looks for the possible outcomes of the determinants of demand for electricity in Turkey. All variables are in per capita. Determinants are electricity production, price index of electricity and income, respectively. Electricity consumption is classified into residential and commercial...

The purpose of this paper is to reveal the short run and long run dynamics of residential electricity consumption for 11 OECD countries within annual period 1979-2006. To this end, this paper first explores the findings from related literature evidence and, later, follows panel cointegration...

This paper observes the Turkish household’ consumption data to see whether it follows random walk or not. The quarterly data covers the period from 1987:1 to 2003:4. By employing the direct tests for random walk, excess smoothness or excess sensitivity, this study results in both excess...

This paper searches statistical evidence of tax harmonization initiated and motivated by EU Commission since 1980. The purpose of energy tax harmonization is to reach more efficient use of energy among members and thereby to establish more competitive markets in EU. The tax harmonization in EU,...

This paper, using the Turkish data, employs a VAR model to decompose permanent and transitory shocks on consumption and income. Pistoresi (1997), using USA data, reaches an empirical result that the permanent part of private consumption explains the much of the variance of series, whereas that...

We use panel cointegration techniques to investigate the causal relationship between CO2 emissions, renewable and non-renewable energy consumption, and trade openness in three different models for a panel of twenty five OECD countries over the period 1980-2009. Also the validity of the...

Based on the Environmental Kuznets Curve (EKC) hypothesis, this paper uses panel cointegration techniques to investigate the short and the long-run relationship between CO2 emissions, economic growth, renewable energy consumption and trade openness for a panel of 24 Sub-Saharan Africa countries...