Monetary Transmission Mechanism In An Open Economy Framework: The Case Of Turkey

Monetary transmission mechanism (MTM) is an illuminating policy tool in appreciating the monetary policy implementations by policy makers upon various nominal and real factors of interest in the eyes of economic agents. Especially in an open economy such as Turkish economy highly exposed to the effects of capital flows on domestic business cycles with a liberalised capital account, control over policy aggregates may be difficult since many other economic policy implementations would be of great consequence on some other policy targets on macroeconomic income generation process and in providing price stability and external balance. In this respect, in our paper we aim to estimate the MTM for the Turkish economy. Our ex-post estimates for the period 1992-2004 using contemporaneous vector autoregression models such as impulse response analysis indicate that weakly exogeneous capital inflows appreciate the real effective exchange rate, and in turn lower the real interest rates and domestic inflation while increasing both the real output growth and also the stock exchange index considering an asset-price channel for the latter and vice versa. We find some significant effects of the courses of capital flows and real effective exchange rate on monetary policy variable in the transmission mechanism, and such a case may impose an endogeneous characteristic on the policy variable given also that both domestic real interest structure is highly sensible to the monetary policy and that monetary policy is subject to the structural breaks in the sense of so-called Lucas’ critique of contemporaneous economics.Monetary Transmission Mechanism, Turkish Economy, Capital Flows, Real Exchange Rate, Real Interest Rate, Inflation, Income Growth, Stock Exchange, Price Puzzle

Probing Transition Metal Dichalcogenides via Strain-Tuned and Polarization-Resolved Optical Spectroscopy

The strong light-matter interaction in the atomically thin transition metal dichalcogenides (TMDCs) has allowed the use of optical spectroscopy to investigate these materials in great depth. It has been shown that optoelectronic properties of ultrathin TMDCs are remarkably different from their bulk counterparts. Among them, this dissertation focuses on ultrathin MoTe2 (molybdenum ditelluride) and ReS2 (rhenium disulfide). We first introduce the fundamental properties of the two material systems, MoTe2 and ReS2, investigated in this dissertation. Specific experimental methods for optical spectroscopy of 2D materials, 2D sample preparation, and related optics calculations are presented. Absorption and photoluminescence measurements are applied to demonstrate that semiconducting MoTe2, an indirect band gap bulk material, acquires a direct band gap in the monolayer limit. Furthermore, strain-tuned optical spectroscopy on MoTe2 shows that tensile strain can significantly redshift its optical gap and partially suppress the intervalley exciton-phonon scattering. This suppression results in a narrowing of the near-band excitonic transitions. We also discuss the effect of strain on the transport properties of MoTe2 due to this reduction in scattering. We investigate monolayer ReS2 as a TMDC system exhibiting strong in-plane anisotropy. These properties are explored by polarization-resolved spectroscopy. We show how the accessible optical properties vary with optical polarization. We find that the near-band excitons in ultrathin ReS2, absorb and emit light along specific polarizations. We also show that purely non-contact, optical techniques can determine the crystallographic orientation of ReS2

Finansal Gelisme ve Ekonomik Buyume Iliskisi: Turkiye Ekonomisi Uzerine Ekonometrik Bir Uygulama

In the relationship between financial development and economic growth, supply-leading and demand-following hypothesis have great importance. According to supply-leading hypothesis, financial development leads to economic growth, however demand following hypothesis asserts that the direction of the relationship runs from economic growth to financial development. In this study, financial development and economic growth relationship is examined for Turkey over the period of 1970-2004. Granger causality test results show that financial development leads to economic growth and support the supply-leading hypothesis for Turkey.Financial Development, Financial Repression, Economic Growth, Time Series, Unit Root, Granger Causality Test, Turkish Economy

A High Throughput Lab-On-A-Chip System for Label Free Quantification of Breast Cancer Cells under Continuous Flow

This paper presents an LOC system combining microfluidic DEP channel with a CMOS image sensor for label and lens free detection and real-time counting of MCF-7 cells under continuous flow. Trapped and then released MCF-7 cells are accurately detected and counted under flow with a CMOS image sensor integrated underneath the DEP channel, for the first time in the literature. CMOS image sensor can capture 391 frames per second (fps) that allows detection of the released cells flowing through the channel with a flow rate up to 130 mu l/min (0.468 m/s). Therefore, the proposed system is able to detect the cells under high flow where conventional techniques for cell quantification such as fluorescent tagging become unusable. Detected cells are automatically counted with a computer program and the counting accuracy of the whole system is 95%. (C) 2016 The Authors. Published by Elsevier Ltd

Serum Neopterin and Procalcitonin Levels in Relationship with Pediatric Burn Wound Infections

Infection and septic complications in burn patients can be monitored by procalcitonin (PCT) and neopterin plasma values. The aim of the study was to investigate serum neopterin and PCT levels with WBC (white blood cell) and CRP (C-reactive protein) levels in patient group (PG) and healthy control group (HCG) and to investigate the relationship of these markers with burn wound infections (BWI). As the PG, 23 patients between 0–12 ages and up to 30% Total Body Surface Area (TBSA) burned and 15 HCG were included. PCT, neopterin, WBC, and CRP results on the first, the seventh, the fourteenth and the 21st day have been compared. During the follow-up period, 11 patients with BWI and 12 patients without BWI were classified as infected and non-infected patients, respectively. PCT and neopterin levels were detected higher in patients with BWI but no significant difference were present. Also, PCT and neopterin levels within the first 24 hours following the burn were detected higher in PG than HCG. CRP and WBC levels were detected high due to burn trauma. PCT and neopterin levels were increased in patients with BWI. PCT levels were increased during the pre-infectious period, while neopterin levels increased during the post-infectious period

Honey Plants of Düzce University Ornamental and Medicinal Plants Botanical Garden

In this study, melliferous plants that the honey bee (Apis mellifera L.) can benefit from among the taxa planted in Düzce University Ornamental and Medicinal Plants Botanical Garden, are presented. Among the 451 taxa planted in the botanical garden, those with these characteristics were determined by reviewing studies on the subject. Of the 165 taxa (36.58%) included in the honey plant class; 119 contain both nectar and pollen, 25 contain pollen, 13 contain nectar, 4 contain both pollen and insect secretion (IS) or sweet sap (SS), 2 contain pollen, nectar and IS or SS, 1 contain both nectar and SS, 1 contain only IS. In order to prevent the decrease in pollinator and pollinator insects, whose numbers are decreasing due to global climate change, a "Bee and Insect Hotel" was placed in the botanical garden. For this reason, the majority of the plants selected for planting were chosen from taxa with honey plant properties. The main purpose here is both to pollinate the plants in the botanical garden and to show and explain the effects of insect species on pollination through nature education

A Large-Deformation Gradient Damage Model for Single Crystals Based on Microdamage Theory

This work aims at the unification of the thermodynamically consistent representation of the micromorphic theory and the microdamage approach for the purpose of modeling crack growth and damage regularization in crystalline solids. In contrast to the thermodynamical representation of the microdamage theory, micromorphic contribution to flow resistance is defined in a dual fashion as energetic and dissipative in character, in order to bring certain clarity and consistency to the modeling aspects. The approach is further extended for large deformations and numerically implemented in a commercial finite element software. Specific numerical model problems are presented in order to demonstrate the ability of the approach to regularize anisotropic damage fields for large deformations and eliminate mesh dependency

ARISTOTLE study and sub-group analyses: Conspicuous points

Aristotle study is a phase III study which evaluates apixaban's safety and efficacy as comparing to warfarin in patients with nonvalvular AF (NVAF) having at least one stroke risk factor of apixaban. 18.201 patients were evaluated in this randomized, controlled, multicentered study. This review will overview of the Aristotle study and subgroup analysis