In this research, we refer to Nakamoto's seminal paper "Bitcoin: A Peer-to-Peer Electronic Cash System" (2008) to consider his proposed abstracted characteristics and how auditors could look at com...

Auditing Cloud-based Blockchain Accounting Systems

This paper presents a cash-in-advance framework, with variable income velocity, where the domestic effects, as well as the international transmission, of financial innovation can be analyzed. In particular, the discussion emphasizes the role of currency substitution and of cross-border transfers of seigniorage in determining the general equilibrium effects of financial innovation.

https://papers.ssrn.com/sol3/Delivery.cfm/WPIEA0391989.pdf?abstractid=884754&mirid=3

Currency Substitution and Financial Innovation

Female labor force participation rate in Turkey is quite low by European Union (EU) and Organization for Economic Co-operation and Development (OECD) standards: it was 24.9 percent in 2006, compared to 66.1 percent in EU-27 and 60.8 percent in OECD countries. Moreover, it has declined from 34.3 percent in 1988 to 24.9 percent in 2006. The purpose of this report is to shed light on factors that determine women's participation in the labor market and the reasons behind the observed trends over the 1988-2006 periods. An important reason for the fall in female participation rate is urbanization. Turkey has witnessed high levels migration from rural to urban areas since 1988. The share of urban population rose from 51.1 percent in 1988 to 63.3 percent in 2006. Despite the declining trend, the female labor force participation rate in rural areas is still higher than that in urban areas, which has been more stable over time. In fact, the gender gap in participation rate in urban areas is much wider. Significant improvements have taken in place in women's schooling in recent decades in Turkey. The final interesting finding that requires further investigation is the low and stagnant participation rates of low skilled women - those with less than high school education. Over the 2000-2006 periods, the participation rate of low skilled women varied between 10.9 and 11.8 percent. These are considerably lower rates compared to that of low skilled men which, over the same time period, varied between 67.1 and 68.8 percent.

Determinants of and Trends in Labor Force Participation of Women in Turkey Abstract

The Seasonal Cycle and the Business Cycle Most recent research on macroeconomic fluctuations ignores the seasonal variation in the economy by working with seasonally adjusted or annual data. There are several reasons why this approach may be desirable. Seasonal fluctuations might be small enough relative to business cycle fluctuations that removing them has little effect on empirical results. Alternatively, seasonal fluctuations might be generated by fundamentally different mechanisms than the ones that produce cyclical fluctuations, in which case the two kinds of fluctuations can be addressed separately. Finally, seasonal fluctuations might be natural and desirable while business cycle fluctuations traditionally are thought to involve significant welfare losses.1 (1) Undoubtedly one further reason for the general preference for seasonally adjusted data is that seasonally unadjusted data often are difficult to obtain. In most cases, however, seasonally unadjusted data (or reasonable proxies for such data) can be constructed. See the appendixes to the papers cited below for sources of seasonally unadjusted data. The research that I have carried out over the past five years challenges a number of the most frequently cited reasons for ignoring seasonality, and it suggests that a unified approach to studying seasonal and cyclical fluctuations may be warranted. This line of research resumes an older tradition of NBER analysis of fluctuations, exemplified by Simon Kuznets, in which both seasonal and business cycle fluctuations were regarded as important topics of investigation.2 Here I summarize the main findings of my research to date and discuss possible implications of the results for understanding economic fluctuations. (2) S. Kuznets, Seasonal Variations in Industry and Trade, New York: NBER, 1933; W.S. Woytinsky, Seasonal Variations in Employment in the United States, Washington, DC: Social Science Research Council, 1939; J.P. Bursk, Seasonal Variations in Employment in Manufacturing Industries, Philadelphia: University of Pennsylvania Press, 1931; E.W. Kemmerer, Seasonal Variations in the Relative Demand for Money and Capital in the United States, National Monetary Commission, 1910; and F.R. Macaulay, Some Theoretical Problems Suggested by Movements of Interest Rates, Bond Yields, and Stock Prices in the United States since 1856, New York: NBER, 1938. The Patterns and Importance of Seasonal Fluctuations The first goal of my research has been to examine the seasonal patterns in standard macroeconomic variables and to document their quantitative importance.3 Seasonal fluctuations account for more than 85 percent of the fluctuations in the rate of growth of real GNP, and seasonal fluctuations are present in every major type of economic activity, including consumption, investment, government purchases, industrial production, retail sales, unemployment, and the money stock. Seasonal movements are not a quantitatively important feature of either prices or interest rates, however. (3) R.B. Barsky and J.A. Miron, "The Seasonal Cycle and the Business Cycle," NBER Working Paper No. 2688, August 1988, and Journal of Political Economy, forthcoming; and J.A. Miron, "A Cross-Country Comparison of Seasonal Cycles and Business Cycles," manuscript, University of Michigan, November 1988. The seasonal pattern in quarterly real GNP consists of large increases in the second and fourth quarters, a large decrease in the first quarter, and a mild decrease in the third quarter. In the fourth quarter boom, output on average is 8 percent higher than it is every winter. The seasonal patterns in consumption purchases and output are similar, and the seasonal pattern in government purchases also is dominated by a first quarter decline and a fourth quarter increase. Fixed investment grows strongly in the second quarter, grows slightly in the third quarter, declines weakly in the fourth quarter, and declines strongly in the first quarter. …

The Seasonal Cycle and the Business Cycle

In this paper, we studied the relationship between female labour force participation and economic development in the 28 countries of the European Union during the period 1990–2016. The analysis was carried out from two different viewpoints: first, we studied all the countries of the EU-28, and second, the evidence was disaggregated into two groups of countries: old (EU-15) and new (EU-13) member estates. The data used came from the World Bank open data repository and Eurostat. The methodology used consisted of the estimation of static (Ordinary Least Squares (OLS) and Fixed Effects (FE)) and dynamic (generalized moments model—GMM) models. Results for all European countries (EU-28) were consistent with the hypothesis which suggests the existence of a U-shaped relationship between female labour force participation and economic development. When the sample was broken down into groups, we found evidence that confirms the feminization hypothesis for the new countries of the EU, but not for the old ones.

Economic Development and Female Labour Force Participation: The Case of European Union Countries

Bu calismada Turkiye icin Wagner yasasi 1960-2006 arasi donem icin arastirilmistir. Wagner Yasasi kamu harcamalari ile milli gelir arasindaki uzun donemli iliski olup olmadigini arastirir. Bu calismada yasanin gecerliligi modern zaman serisi ekonometrik teknikleri ile test edilmistir. Wagner Yasasi’nin gecerliligini test etmek icin ko-integrasyon analizi kullanilmistir. Calisma sonuclarina gore Florio ve Colutti (2005)’nin belirttigi elastikiyet olcutlerine gore analiz edilen donemde Wagner Yasasi’nin iki formulasyonuna gore yasa kabul edilmistir. Bu calismada Toda – Yamamoto Granger nedensellik testi, modelin kisa ve uzun donem ozellikleri hata duzeltme modeli cercevesinde incelenmistir. Tahmini hata duzeltme modeline gore uzun donemde kamu harcamalari ve gayri safi yurt ici milli hasila arasindaki Granger nedensellik cift taraflidir.

http://journal.dogus.edu.tr/index.php/duj/article/download/275/pdf_34

The Wagner’s Law: Time Series Evidence for Turkey, 1960-2006

Bilgi cagi olarak nitelenen yirmi birinci yuzyilda, bilgi ve insan organizasyonlarin en onemli sermayesi haline gelmistir. Uretim kaynaklari icerisinde insanin oneminin artmasi sirketlerin yonetiminde insan gucunun motivasyonu ve is tatminine iliskin konularin ozel onem tasiyan konular olmasini beraberinde getirmistir. Birbirlerine yakin zamanlarda dogan insanlarin benzer ozellikler tasimasi kusak kavramini ortaya cikarmistir. Her bir kusagin farkli ozelliklerinin olmasi, organizasyonel sistemlerin kusaklara gore guncellenmesi durumunu gerektirmektedir. Y kusagi olarak kabul edilen 1980-2000 yillari arasinda dogan kusagin, sorgulayici yapiya sahip niteligi ile onumuzdeki yillarda is piyasasinda artan bir ivmeyle yer almasi beklenmektedir. Bu calismada kusak kavraminin dogusu yetiskinler, bebek patlamasi, X, Y, Z kusaklari tanitilmis ve Y kusagi ozellikleri, is yasamindan beklentileri ele alinarak, Y kusaginda is tatmini motivasyon iliskisi bu kusak calisanlarina anket uygulanarak arastirilmistir. Arastirma sonucunda Turkiye’de Y kusagi calisanlarinin is tatmini ile motivasyonlari arasinda pozitif yonlu ve cok kuvvetli iliski bulunmustur.

https://dergipark.org.tr/en/download/article-file/208837

Türkiye’de çalışan Y kuşağında iş tatmini - motivasyon ilişkisi

Cari islemler acigi veren ulkelerde, yuksek reel faiz politikasi uygulayarak dis finansmanin uluslararasi likiditeyi ulkeye cekerek saglanmasi istedigi firmalarin yurtdisindan daha dusuk maliyetli borclanmasini artirmaktadir. Ayrica, kuresel kriz donemlerinde uluslararasi konvertibilitesi yuksek olan guclu ulke paralarinin ekonomik islemlerde kullanilma orani da yukselmektedir. Borc dolarizasyonuna neden olan bu ve benzeri sureclerin, ozellikle yerel kuru istikrarsiz olan gelismekte olan ulkelerde kirilganliklar yaratmaktadir. Borc dolarizasyonu yuksek olan firmalarda, olusan bu kirilganliklar firma finansal yeterliligi ve gelecegi acisindan belirsizlikler olusturmaktadir. Bu calismada, 1996-2014 arasinda Turkiye’deki reel sektorun borc dolarizasyonunun bilanco degeri uzerinden yatirimlara olan etkisi incelenmektedir. Ozellikle gelismekte olan ulke ekonomilerinde reel sektorun yabanci para cinsinden borclanmasi bilanco degerleri uzerinde risk yaratmaktadir. Yerli para biriminin deger kaybettigi durumlarda sirketler finansman gideri kalemi icerisinde kur zarari yazabilmekte; dolayisiyle sirket ilgili bilanco doneminde gelirlerini arttirmis olsa bile kari azalabilmektedir. Boylece bilanco degeri dusmektedir. Ayrica yerel para biriminin deger kaybettigi durumlarda Merkez Bankasinin yerel para biriminin degerini koruma amaciyla faizleri arttirmasi bankalarin kredi faizlerine de yansiyabilecegi icin sirketler daha yuksek faizle borclanmaktadir; dolayisiyla finansal borclar uzerinde de faiz riski olusmaktadir. Soz konusu, firma eger doviz kurundaki artisi avantaja ceviremiyorsa; ornegin ihracatci degilse bilanco degerindeki dususten dolayi yatirimlari acisindan olumsuz etkilenir, sirkerin karliligi azaldigi icin yatirim harcamalarini arttirmasi da zorlasir. Ekonometrik analiz kisminda, borc dolarizasyonunun belirleyicilerinin ve firma bilancolari uzerindeki etkilerini degerlendirmek amaciyla, yatay kesit bagimliligi testleri, 1. ve 2. nesil birim kok testleri, yapisal kirilmalari dikkate alan esbutunlesme testi ve uzun donem katsayi testi uygulanmaktadir. Bu calismada, firmaya ozgu degiskenler olarak kaldirac orani, ihracat gelirlerinin toplam satislar icindeki orani, net kar marji, likidite oranlari, stoklarin toplam varliklar icindeki orani ele alinmistir. Makroekonomik degiskenler olarak ise gayri safi milli hasila buyumesi, enflasyon, cari acik ve kuresel risk istahi kullanilmistir.

https://dergipark.org.tr/tr/download/article-file/208901

Türkiye’de Borç Dolarizasyonunun Belirleyicileri ve Makroekonomik Göstergeler Üzerindeki Etkileri

In economics, any production function is composed of capital labor and technology inputs. In the gross domestic product (gdp) growth of an economy labor seems to be an important input. Therefore, a country’s economic growth depends mainly on labor supply. In order to attain economic growth and development, an optimal choice of male and female labor force participation is necessary. Besides cultural and sociological factors, economic, education and health factors are the main issues affecting labor force participation in developing as well as developed countries. The objective of this chapter is to analyze the determinants of female labor force participation which are per capita gross domestic product, unemployment rate, ratio of female to male primary enrollment, ratio of female to male secondary enrollment, ratio of female to male tertiary enrollment, fertility rate and life expectancy of females at birth. The data used in this analysis belongs to World Bank database for G8 countries between 1995 and 2013. The results show that unemployment has a discouraging effect on female labor force participation rate. The gross domestic product and education are found to affect female labor force participation positively.

Özlem Taşseven

Papers

The Wagner’s Law: Time Series Evidence for Turkey, 1960-2006

Türkiye’de çalışan Y kuşağında iş tatmini - motivasyon ilişkisi

Türkiye’de Borç Dolarizasyonunun Belirleyicileri ve Makroekonomik Göstergeler Üzerindeki Etkileri

The Relationship Between Economic Development and Female Labor Force Participation Rate: A Panel Data Analysis

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