This paper evaluates the current competition policy framework in Turkey. A brief history of competition policy is presented. An account of the Law on the Protection of Competition, the main law on competition in Turkey, is given. The structure of the Competition Authority, the body responsi- ble...

This paper specifies, estimates, and evaluates the relation between inflation rate and excess money growth, defined as the difference between money supply growth and real GDP growth, using a smooth transition regression model and U.S. data. The results indicate that the relation is a nonlinear...

In this paper, I develop a new method to test whether the introduction of competition policy in an industry has had any effects on its market performance. The method is based on the new empirical industrial organization methodology. I apply the method to the Turkish cement industry, which has...

This paper replicates Leybourne et al. (1998), who propose a Dickey-Fuller type test for unit root that is most appropriate when there is reason to suspect the possibility of deterministic structural change in the series. We find that our replicated results are quite similar to the authors'...

This paper replicates Cheung and Lai (1995), who use response surface analysis to obtain approximate finite-sample critical values adjusted for lag order and sample size for the augmented Dickey-Fuller test. We obtain results that are quite close to their results. We provide the Ox source code....

This article evaluates the numerical accuracy of Ox object-oriented matrix programming language. It uses the Standard Reference Datasets (StRD) for estimation accuracy, the ELV DOS program for statistical distribution accuracy, and the DIEHARD battery of randomness tests for random number...

This paper employs a new econometric technique to estimate the core inflation in Turkey measured as the shifting means in levels between 1955 and 2014. Using monthly series, we determine the number of shifts using the BIC, the hv-block cross-validation, the Lin-Teräsvirta parameter constancy...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...