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İktisat Bölümü

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    Citation - WoS: 4
    Citation - Scopus: 4
    Estimation in Multivariate Nonnormal Distributions With Stochastic Variance Function
    (Elsevier Science Bv, 2014) Islam, M. Qamarul
    In this paper the problem of estimation of location and scatter of multivariate nonnormal distributions is considered. Estimators are derived under a maximum likelihood setup by expressing the non-linear likelihood equations in the linear form. The resulting estimators are analytical expressions in terms of sample values and, hence, are easily computable and can also be manipulated analytically. These estimators are found to be remarkably more efficient and robust as compared to the least square estimators. They also provide more powerful tests in testing various relevant statistical hypotheses. (C) 2013 Elsevier B.V. All rights reserved.
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    Citation - WoS: 11
    Citation - Scopus: 12
    Transportation-Communication Capital and Economic Growth: a Vecm Analysis for Turkey
    (Routledge Journals, Taylor & Francis Ltd, 2012) Eruygur, Aysegul; Kaynak, Muhtesem; Mert, Merter
    This paper analyses the short- and long-term relationships between the transportation-communication capital and the output for Turkey. The study applies a Cobb-Douglas production function under the assumption of constant returns to scale and employs co-integration analysis by estimating a vector error correction model (VECM). As a result of the VECM estimation, one co-integrating relationship is detected. The results based on the impulse response function analysis imply that per labour transportation-communication capital appears both to have been a crucial input in the Turkish productive process and to have had a positive crowding in effect on the per labour non-residential total capital formation. Moreover, the results support the argument that the transportation-communication capital has a lagged impact on economic growth. The long-term accumulated elasticity of output to transportation-communication capital has been found to be 0.59. The long-term accumulated marginal product was also calculated. It implies that a 1 Turkish Lira increase in per labour transportation-communication capital results in a long-term rise of 1.45 Turkish Liras in per labour output. All these findings suggest that transportation-communication capital may be a powerful tool for policy-makers to promote long-term per labour real output growth in Turkey.