The interaction between fiscal deficits - current account balance: A causality approach for selected european Union Countries

Bolat, Süleyman ( Aksaray, Yazar )Çalışma, bütçe açığı ve cari işlemler dengesi arasındaki ilişkiyi seçilmiş 9 Avrupa Birliği ülkesinde Kónya (2006) tarafından geliştirilen panel Granger nedensellik analizi ile test etmektedir. Analizde kullanılan ekonometrik yöntem yatay kesit bağımlılığını dikkate almaktadır. Yatay kesit bağımlılığı altında panel Granger testi sonuçları, bütçe açıklarından cari işlemler açığına yönelik tek yönlü nedenselliğin varlığını ileri süren İkiz Açık Hipotezi'nin Avusturya, İtalya, Portekiz ve İspanya ekonomileri için geçerli olduğunu göstermektedir. Bütçe ve cari işlemler dengesi arasında nedensel bir ilişkinin olmadığını gösteren Ricardocu yaklaşım ise Belçika, Finlandiya ve Fransa için desteklenmiştir. Sonuçlar, yalnızca İrlanda ekonomisi için cari işlemler dengesi ile bütçe dengesi arasında karşılıklı nedensellik öngörürken, Yunanistan'da cari işlemler dengesinden bütçe dengesine doğru bir nedensellik vardır.This study tests the causal relationship between the budget deficit and current account deficit for nine European countries we selected by employing the panel Granger causality analysis developed by Konya (2006). The econometric method we used in this study takes into account cross section dependence. Panel Granger test results under the cross sectional dependence show that there is a validity of unidirectional causality from budget deficit to current account deficit pointing as twin deficit hypothesis supported by Keynesian view for Austria, Italy, Portugal, and Spain. In the empirical results, we found that there is no relationship between budget deficit and current account deficit, indicating supporting the Ricardian Equivalence Hypothesis for Belgium, Finland, and France. According to the findings, while it is estimated bidirectional causality between the current account deficit and the budget deficit for only Ireland, there is causality from current account deficit to budget deficit in Greece

Performance Estimation of Organic Rankine Cycle by Using Soft Computing Technics

In this study, the thermal efficiency values of Organic Rankine cycle system were estimated depending on the condenser temperature and the evaporator temperatures values by adaptive network fuzzy interference system (ANFIS) and artificial neural networks system (ANN). Organic Rankine cycle (ORC) fluids of R365-mfc and SES32 were chosen to evaluate as the system fluid. The performance values of ANN and ANFIS models are compared with actual values. The R2 values are determined between 0.97 and 0.99 for SES36 and R365-mfc, and this is satisfactory. Although it was observed that both ANN and ANFIS models obtained a good statistical prediction performance through coefficient of determination variance, the accuracies of ANN predictions were usually imperceptible better than those of ANFIS predictions

Theoretical Investigation Of Plate Fixation And Intramedullary Nailing Methods On Radius Fractures

While forearm fractures are often treated with plate-screw osteosynthesis, intramedullary nailing gained importance recently. For this aim, radius bone model was obtained using CT images, a fracture was introduced to the model and the callus, which is a structure forms during healing, was added to the model. Plate and intramedullary nail models were implemented to radius model. Structural behaviors of obtained models and callus on treatments with various implants were investigated under axial loading. In the light of these analyses, stresses on bone-implant structure and callus movement were investigated from the angle of application and treatment, depending on implant selection

Assessment of industrial nitriding processes for fusion steel applications

The 9Cr steels EUROFER and F82H-mod are the candidate materials for future fusion reactors. The extension of the operation limits including temperature, strength and toughness are still the scope of ongoing research. In a pulsed reactor operation, fatigue lifetime is one of the major properties for the steels. While the oxide dispersion strengthened EUROFER-ODS variant showed significant improvements in this area, the production costs and availability of large quantities of materials drastically limits its applications. In the present study, different surface nitriding treatments of EUROFER972 have been performed and the impact on microstructure, dynamic fracture toughness and high temperature fatigue has been analysed. Four different states of EUROFER including different heat treatments, nitriding of the surface and the ODS variant are tested and compared in this work. Low cycle fatigue tests show the improvements after certain treatments. Charpy impact tests and microstructural investigation by scanning electron microscopy and analytical transmission electron microscopy are also performed to compare the materials against the reference (EUROFER97). While conventional gas nitriding showed no beneficial effect on the material, the Hard-Inox-P treatment showed a significant improvement in the cycles to failure while retaining an acceptable toughness. Microstructural investigations showed the presence of very small chromium- and nitrogen-rich precipitates in the area close to the surface