Optimal Monetary Policy in the Sticky Information Model of Price Adjustment: Inflation Targeting or Price-Level Targeting?

I investigate optimal monetary policy in the sticky information model of price adjustment within a New Keynesian macroeconomic framework. The model is solved for optimal policy, and welfare implications of three alternative monetary policy regimes: unconstrained policy, price-level targeting and inflation targeting, are compared when there is a shock to the economy. The results for a cost-push shock illustrate that optimal policy depends on the degree of price stickiness and the persistence of the shock. Inflation targeting is the optimal policy if prices are flexible enough or the shock is persistent enough. However, for a demand shock, inflation targeting emerges as the best policy for all values of the price stickiness and the shock's persistence. When the volatility of nominal interest rate is taken into consideration, the results indicate that inflation targeting is the best policy, in the sense that it results in smaller welfare loss and volatility of nominal interest rate, if prices are sticky enough and the persistence of the shock is large enough. However, price-level targeting might be preferable to inflation targeting if prices are more flexible and the relative weight for the volatility of nominal interest rate is large.Optimal policy; Sticky information; Inflation targeting; Price-level targeting

Derivation and Estimation of a Phillips Curve with Sticky Prices and Sticky Information

I develop a structural model of inflation by combining two different models of price setting behavior: the sticky price model of the New Keynesian literature and the sticky information model of Mankiw and Reis. In a framework similar to the Calvo model, I assume that there are two types of firms. One type of firm chooses its prices optimally through forward-looking behavior---as assumed in the sticky price model. It uses all available information when deciding on prices. The other type of firm sets its prices under the constraint that the information it uses is ``sticky''---as assumed in the sticky information model. It collects and processes the information necessary to choose its optimal prices with a delay. This leads to the sticky price-sticky information (SP/SI) Phillips curve that nests the standard sticky price and sticky information models. Estimations of this structural model show that both sticky price and sticky information models are statistically and quantitatively important for price setting. However, the sticky price firms make up the majority of the firms in the economy. The resultant SP/SI Phillips curve models inflation better than either the sticky price or sticky information models. The results are robust to alternative sub-samples and estimation methods.Inflation; Phillips Curve; Sticky prices; Sticky information;

Market and Project Selection Decisions of Construction Companies: Evidence from Turkish Contractors

Globalization of the world economy has made borders between the countries lessimportant and thereby brought about unified markets. Construction industry is not differentfrom other industries when it comes to the globalization and unification of markets. Enteringinto new markets and undertaking international projects promise several benefits such asincrease in the business volume, profits, market share, etc. Turkish contractors have also beenactively operating in international markets since the 1970s. They have completed more than5,100 projects with a total value of USD 155 billion in 81 different countries until now.Undoubtedly, this success is highly subject to the extent to which they make sound decisionson market and project selection. This study aims to investigate the main attributes that mayaffect Turkish contractors' decisions on market and project selection. Review of the literature indicated that there are 57 attributes that may likely affect market and project selection decisions of contractors. These attributes were categorized into 4 main groups, namely;contractor-related attributes, country-related attributes, project-related attributes, and owner related attributes. A questionnaire consisting of 62 questions was designed and conducted among 71 Turkish contractors in order to identify the most contributing attributes. Reliability analysis was carried out to test the internal consistency of the questionnaire and factor analysis was conducted to identify the most contributing factors. Reliability analysis resultsindicated that seven attributes should be deleted to increase the internal consistency of thequestionnaire and factor analysis results revealed that the remaining 50 attributes could be described by 11 factors

Negative Spillovers Across Partnerships for Responsible Innovation: Evidence from the 2014 Ebola Outbreak

Humanity faces ongoing and contemporaneous grand challenges. Occasionally, abrupt shocks escalate a grand challenge’s salience over others. Prior research has advocated forming partnerships to address grand challenges via responsible innovation. Yet, it remains unclear how temporal changes in the salience of a grand challenge impact innovation performances of partnerships. We address this research gap by bridging the literature on issue salience, responsible innovation and interorganizational relationships. We argue that shocks either aid or harm the performance of partnerships for responsible innovation depending on whether their domains are directly or indirectly affected. The Ebola outbreak in 2014 sets the empirical context to test our theory. We find that while the innovation performance of Ebola partnerships formed after the outbreak rose eleven-fold, the performance of partnerships treating Influenza fell by 84.9 percent. Our theory and findings have immediate implications for today’s COVID-19 outbreak, cautioning against salience shifts among concurrent grand challenges

Reviewing the Defense Spendings’ Effects on Foreign Trade of Turkey

In order to ensure military security in a country, defense spending must be done for having a trained army with modern weapon systems. The effects of defense spending, which are not completed once and must be made continuously, are inevitable. This study sought to answer the question of how to influence Turkey's foreign trade balance in defense spending in the years 2000-2018. The Granger causality tests in the E-Views, a Windows-based econometric software program have been used. Defense spending has emerged from the analysis did not affect the foreign trade balance in Turkey. It is observed that the gross domestic product has an impact on the export and import of defense industry products

GO containing PHBHX bone scaffold: GO concentration and in vitro osteointegration

Trauma, congenital abnormalities or cancer-induced bone defects can be treated with tissue engineering products. Graphene oxide-containing polymeric scaffolds are used as an artificial extracellular matrix, acting as an environment where cells can grow and turn into living tissues. In the presented study, primarily cytotoxicity of graphene oxide was determined depending on the concentration. According to the cytotoxicity results, two different scaffolds containing low and high concentrations of GO were prepared and usability in bone tissue engineering was examined. For this purpose, water uptake, in vitro degradation and mechanical properties of the scaffolds were determined. On the predetermined days, MC3T3 cells proliferation and ACTB, COL1A1, OCN, OPN, RUNX2 gene expression were determined. According to the results, MC3T3 cell proliferation was increased when the incubation time increased, and also, gene expression related to bone tissue formation was increased. © 2021, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature

There and Back Again : The Quest and Self-Discovery in J.R.R. Tolkien’s The Hobbit

J.R.R. Tolkien contributed a lot to English fantasy and children's literature. In his novel called The Hobbit, he presents the adventure of the hobbit, Bilgo Baggins and thirteen dwarves who crave for getting their homeland back. Throughout their journey, they experience many dangerous situations. However, it is observed that the novel can be considered as a Bildungsroman. The main character, Bilbo Baggins has his own selfdiscovery through this journey. At the beginning of the novel, he is a domestic character who hesitates to show courage and gets afraid easily. Later, he not only challenges the outside world but also the inner self whose Baggins side is dominant and prevents him to have an active character. When he is back again in his hobbit-hole, he is not the same person anymore. My paper will be on the main character's change throughout the novel and examplify his challenge both physically and metaphorically.Publisher's Versio

Helyum benzeri bazı aktinit atomlarının atomik yapı hesapları

06.03.2018 tarihli ve 30352 sayılı Resmi Gazetede yayımlanan “Yükseköğretim Kanunu İle Bazı Kanun Ve Kanun Hükmünde Kararnamelerde Değişiklik Yapılması Hakkında Kanun” ile 18.06.2018 tarihli “Lisansüstü Tezlerin Elektronik Ortamda Toplanması, Düzenlenmesi ve Erişime Açılmasına İlişkin Yönerge” gereğince tam metin erişime açılmıştır.Hartree-Fock yöntemiyle helyum benzeri aktinyum, toryum, protaktinyum, uranyum ve neptünyumun seviye enerjileri bu seviyeler arasındaki elektrik dipol (E1) geçiş parametreleri (dalga boyları, ağırlıklı salınıcı şiddetleri ve geçiş olasılıkları) hesaplanmaktadır.Energy levels, and electric dipole (E1) transition parameters (wavelengths, weighted oscillator strengths, transition probabilities) have been calculated for helium like actinide, thorium, protactinium, uranium and neptunium by using multiconfiguration Hartree-Fock method. Works in available literature for mentioned actinide ions have been given in the first chapter, multiconfiguration Hartree-Fock method have been summarized in second chapter and obtained results have been tabulated and compared with available theoretical and experimental works in the last chapter

WHY DO PEOPLE HIGH IN COVID-19 WORRY HAVE MORE MENTAL HEALTH DISORDERS? THE ROLES OF RESILIENCE AND MEANING IN LIFE

Background: The existing literature has not adequately studied the influence of COVID-19 worry on mental health disorders. This study tested the mediating roles of resilience and meaning in life between COVID-19 worry and mental health disorders. Subjects and methods: We recruited 284 Arabic speaking young adults (60.6% females; mean age = 26.25±7.57 years) to complete the COVID-19 Worry Scale, Brief Resilience Scale, Meaning in Life Measure, and Patient Health Questionnaire-9. Results: Results showed that COVID-19 worry negatively predicted resilience and meaning in life and positively predicted mental health disorders. Furthermore, indirect effect of COVID-19 worry on mental health disorders via resilience and meaning in life was significant. Conclusion: These results will contribute to find effective measures to prevent mental health disorders and promote reduced mental health disorders from the perspective of mitigating COVID-19 worry and increasing resilience and meaning in life