The Role of Labor Market Institutions on Wage and Inflation Dynamics: Empirical Evidence from OECD Economies

This paper investigates empirically how labor market institutions affect wage and inflation dynamics, particularly the volatility of real wage growth and inflation using a panel data for OECD economies. I also look at how the rate of unemployment is affected by the larger set of labor market variables that captures diverse aspects of the labor market. The main finding of the paper is that benefit replacement rate is the most significant variable in explaining the volatility of real wage growth and inflation. Besides that union density and bargaining coordination also play an important role in explaining the volatilities in these variables. These results for the benefit replacement rate and union density also support the findings of the theoretical models. It is also shown that the labor market institutions have a considerable influence on the level of unemployment as higher levels of benefit replacement rate, longer durations of unemployment benefits, and a higher union density are expected to lead to a higher level of unemployment.Inflation dynamics;wage dynamics; labor market institutions

Labor Market Institutions and Labor Productivity Growth

In this paper I investigate how the labor productivity growth is affected from various institutions of the labor market using the empirical evidence from a panel data of OECD countries. I find that benefit replacement rate, benefit duration index, and the tax wedge appear to be significant labor market institutions affecting the labor productivity growth. A higher benefit replacement rate, a longer duration of unemployment benefits, and a higher tax wedge are expected to generate a lower labor productivity growth.Labor Market Institutions, Labor Productivity Growth

Labor Market Institutions and Wage and Inflation Dynamics

This paper developes a New Keynesian (NK) model that incorporates standard search and matching structure with firing costs. I analyze how labor market institutions affect the macroeconomic dynamics, in particular, wage and inflation dynamics. I particularly look at two important labor market institutions namely unemployment benefits and firing costs. I find that in countries where unemployment benefits are higher and there are more strict employment protection legislations, inflation and wages become less volatile and more persistent. I also find that the level of these labor market institutions affect how wages and inflation respond to exogenous shocks, in particular, to productivity and monetary policy shocks. I first present some empirical evidence that shows a cross-country link between labor market institutions and wages and inflation. Then I build a dynamic stochastic general equilibrium model which provides theoretical support for this empirical evidence.balance of payments; disequilibrium; exchange rates

Labor Market Institutions and Labor Productivity Growth

In this paper I investigate how the labor productivity growth is affected from various institutions of the labor market using the empirical evidence from a panel data of OECD countries. I find that benefit replacement rate, benefit duration index, and the tax wedge appear to be significant labor market institutions affecting the labor productivity growth. A higher benefit replacement rate, a longer duration of unemployment benefits, and a higher tax wedge are expected to generate a lower labor productivity growth

Does Bank Ownership Affect the Credit Channel of Monetary Policy?

In this article I investigate whether bank ownership affects the credit channel of monetary policy by looking at the Turkish banking sector from the period 2006 to 2010. I analyze whether public banks, foreign banks, and private banks respond differently to changes in monetary policy by looking at the growth rate of their loan sizes. Controlling for certain bank-specific variables, I find that public banks show the smallest response to changes in monetary policy whereas foreign banks exhibit the largest response. JEL Classification: E51, E52, G2

Who responds more to monetary policy, conventional banks or participation banks?

In this paper I investigate whether there is a systematic difference between conventional banks and participation banks in terms of their response to monetary policy shocks. For this purpose I look at the quarterly loan growth of commercial banks and participation banks in Turkish banking sector and see whether the lending channel of monetary policy differs depending on bank type. At the same time I control for some bank specific variables namely the log of real assets the ratio of liquid assets to total assets and the ratio of equity to total assets. I find that participation banks show larger reaction to monetary policy. In terms of bank specific variables banks with higher liquidity ratio tend to have higher loan growth whereas banks with larger asset size have smaller loan growth.En este trabajo se investiga si hay diferencias sistemáticas entre los bancos convencionales y los bancos participativos en cuanto a su respuesta a las sacudidas en política monetaria. Para tal efecto se ha observado el crecimiento trimestral de los préstamos de los bancos comerciales y participativos del sector bancario turco para ver si el flujo crediticio de la política monetaria difiere según el tipo de banco. Al mismo tiempo se ha controlado por algunas variables específicas de cada banco como el registro de activos reales la proporción de activos líquidos respecto al total de activos y la proporción de acciones sobre el total de los activos. Se ha encontrado que los bancos participativos muestran reacciones más amplias a la política monetaria.En cuanto a las variables bancarias específicas los bancos con tasas de liquidez mayores tienden a presentar mayor crecimiento crediticio mientras que los bancos con activos de mayor tamaño tienen crecimientos crediticios menores

Who responds more to monetary policy, conventional banks or participation banks?

In this paper I investigate whether there is a systematic difference between conventional banks and participation banks in terms of their response to monetary policy shocks. For this purpose I look at the quarterly loan growth of commercial banks and participation banks in Turkish banking sector and see whether the lending channel of monetary policy differs depending on bank type. At the same time I control for some bank specific variables namely the log of real assets the ratio of liquid assets to total assets and the ratio of equity to total assets. I find that participation banks show larger reaction to monetary policy. In terms of bank specific variables banks with higher liquidity ratio tend to have higher loan growth whereas banks with larger asset size have smaller loan growth.En este trabajo se investiga si hay diferencias sistem?ticas entre los bancos convencionales y los bancos participativos en cuanto a su respuesta a las sacudidas en pol?tica monetaria. Para tal efecto se ha observado el crecimiento trimestral de los pr?stamos de los bancos comerciales y participativos del sector bancario turco para ver si el flujo crediticio de la pol?tica monetaria difiere seg?n el tipo de banco. Al mismo tiempo se ha controlado por algunas variables espec?ficas de cada banco como el registro de activos reales la proporci?n de activos l?quidos respecto al total de activos y la proporci?n de acciones sobre el total de los activos. Se ha encontrado que los bancos participativos muestran reacciones m?s amplias a la pol?tica monetaria.En cuanto a las variables bancarias espec?ficas los bancos con tasas de liquidez mayores tienden a presentar mayor crecimiento crediticio mientras que los bancos con activos de mayor tama?o tienen crecimientos crediticios menores

‘Kalbinize Bir Sorun Hayat Vermek İster mi?’ Kadavradan Organ Nakli ile İlgili Tutumlar, Tıp ve Toplum (İnternet Gazete Haberleri Üzerinden Bir İnceleme) / ‘Ask Your Heart, Does it Want to Give a Life?’: Attitudes Towards Cadaveric Organ Transplantation..

Bu çalışma Türkiye’de kadavradan organ nakline/bağışına bakış ile toplumsal anlamlandırmave yorumlama süreçleri arasındaki ilişkiyi gazete haberlerine yansıyan boyutları üzerindenbetimleme amacındadır. Söz konusu amacı gerçekleştirme yolunda etkileşimci bir bakış açısıreferans alınmış, tematik gazete haberlerinin içeriği analize tabi tutulmuştur. Bu analiz bizeTürk toplumunda beden ve organlara, ölüme, ölü bedene yüklenen toplumsal, dini anlamlarınhem kadavradan organ nakli ve bağışına ilişkin düşünceleri hem bu konudaki direnci hem demotivasyonu şekillendirici bir düzlemde söylemlere yansıdığını göstermiştir

Dinar (Afyonkarahisar) Havzasındaki Su Kaynaklarının Hidrojeokimyasal Özelliklerinin Değerlendirilmesi

Dinar havzası Büyük Menderes havzasının bir alt havzasıdır. Bu çalışmada, Dinar havzasındaki su kaynaklarının hidrojeokimyasal özellikleri detaylı olarak incelenmiştir. Bu amaçla çalışma alanındaki içme suyu kaynaklarından su örnekleri alınmıştır. Kaynak sularının sıcaklıkları 15.50-19.90°C, pH değerleri 7.54- 8.76, toplam çözünmüş katı madde miktarı 110-402 mg/L, çözünmüş oksijen miktarı 0.06-0.10 mg/L, redoks potansiyeli 242.5-340.0 mV, elektriksel iletkenlikleri (EC) 300-700 µS/cm ve sertliği ise 15.76-31.29 Fro arasındadır. Suların iyon derişimi ise Ca+2>Mg+2>Na+>K+ ve HCO3->SO4-2>Cl->CO3-2 şeklindedir. Kaynak suları genel olarak CaMgHCO3’lı su tipinde, Pınarlı su kaynağı ise CaHCO3’lı su tipindedir. Ayrıca kaynak suları Gibbs diyagramına göre su-kayaç etkileşimli bölgededir. Sularda azot türevleri ve iz elementler açısından arsenik (As) konsantrasyonu artışı dışında negatif etki gözlenmemiştir. Kaynak sularında As içeriği sınır değeri aşmaktadır. Bu artışın jeojenik olarak su-kayaç etkileşimine bağlı olduğu düşünülmektedir