Purpose – The aim of this paper is to prove the validity of Wagner's hypothesis. Design/methodology/approach – The paper examines the validity of Wagner's hypothesis with annual data for Turkey over 1950-2005 period. Findings – The empirical results using the ARDL bounds tests of...

This paper address the extent of capital mobility and foreign debt sustainability in Turkey over the 1962-2003 period by examining the relationship between saving and investment, and imports and exports, respectively. The empirical investment is based on cointegration, error correction models,...

The sustainability of the Turkish budget deficits as well as the dynamics of government revenues and expenditures in controlling the size of the deficit is examined using annual data from 1968 to 2004. The findings support the existence of a long-run relation between government revenues and...

This study examines the relationship between savings and investment for 26 transition economies using a panel data set covering the 1991 to 2002 period. Estimates of the saving coefficient based on cross-sectional, fixed-effect, random-effect and mean-group estimators range from 0.263 to 0.315,...

We test the validity of the Dutch disease hypothesis by examining the relationship between real oil prices and real exchange rates in a sample of fourteen oil exporting countries. Autoregressive distributed lag (ARDL) bounds tests of cointegration support the existence of a stable relationship...

We test the validity of the Dutch disease hypothesis by examining the relationship between real oil prices and real exchange rates in a sample of fourteen oil exporting countries. Autoregressive distributed lag (ARDL) bounds tests of cointegration support the existence of a stable relationship...

This study examines two distinguishing predictions of the finite-horizon open-economy macroeconomic models regarding the effect of fiscal policy on the current account balance: (1) Given the path of government expenditures, a fall in public savings has an adverse effect on the current account...

Time-series analysis of weekly initial claims over 1967–2012 reveal the following: (1) Initial claims are highly seasonal and cyclical, but do not follow a specific trend. Seasonality follows a “W” pattern over the 52 week period. (2) Initial claims are subject to conditional volatility...