This paper estimates the degree of the returns to scale for 2-digit U.S. manufacturing industries from the output-based primal and price-based dual equations implied by firms' cost-minimization problems. It seeks to reconcile the cyclical behavior of the primal and dual productivity residuals by...

This paper considers the sources of long-term economic growth for Turkey over the period 1880-2005. The period in question covers the decline and eventual dissolution of the former Ottoman Empire and the emergence of the new Turkish Republic in 1923. Hence, the paper provides a unique look at...

This article considers the sources of long-term economic growth for Turkey over the period 1880–2005. The period in question covers the decline and eventual dissolution of the former Ottoman Empire and the emergence of the new Turkish Republic in 1923. Hence, the article provides a unique look...

This paper presents estimates of the degree of returns to scale using nonparametric measures of primal and dual productivity for 2-digit US manufacturing industries. As part of the analysis, the cyclical behaviour of primal and dual productivity measures are considered, time-varying markups are...

Turkey’s income inequality is one of the highest within the OECD countries. Despite a decline in Gini coefficient from 0.48 in 1994 to 0.41 in 2007, there is an upward trend in the recent years. This paper presents a preliminary investigation of income distribution in Turkey in the last 17...

In this paper, we use a unique micro-level data set from Istanbul to investigate the empirical relationship between inflation and price dispersion. In particular, our data set includes price observations from three distinct store types: bakkals (convenience stores), pazars (bazaars), and...

In this paper we investigate the link between inflation and relative price variability, and the impact of structural changes in the behavior of inflation using a half-a-century long disaggregated data. Employing panel data techniques to control for aggregate shocks, we show that: 1) the effect...