The Conduct of Monetary Policy in Turkey in the Pre- and Post-crisis Period of 2001 in Comparative Perspective: a Case for Central Bank Independence

We document the role of independence for Central Bank of Republic of Turkey (CBRT) as it matters to successful implementation of monetary policy. We compare the implementation of monetary policy pre- and post-crisis periods within an empirical framework which allows us to measure the role of independence quantitatively. We estimate a Taylor rule with time varying coefficients by employing a dual extended Kalman filter. We find that the coefficient of inflation gap has increased substantially since CBRT gained de-juro independence.Taylor Rule, Kalman Filter, Monetary Policy

Estimating Central Bank Behavior in Emerging Markets: The Case of Turkey

Design of policy rules for an an emerging market central bank (EMCB) operating in an inflation-targeting framework presents additional challenges beyond those for describing the behavior of a central bank in a developed economy. Even though an inflation-targeting regime entails abolishing the exchange rate target in favor of an inflation target, it is more difficult for an EMBC to ignore movements in exchange rates given the relatively shallow depth of financial markets and the the high degree of dollarization. Additionally the EMCB may be forced to change the pursued exchange rate regime following a capital account reversal so that linear Taylor rules may be inadequate for describing EMCB reactions. We develop an empirical framework that addresses these issues and propose a new methodology to estimate unobserved variables such as expected inflation and potential output within the rule. Specifically, we employ a structural, nonlinear Kalman filter algorithm to estimate time-dependent parameters and unobserved variables, and we experiment with various exchange rate mechanisms that can be employed by an EMCB. This approach allows us to track any changes in EMCB behavior - including regime shifts - following a switch to inflation targeting. Using post-2001 data from Turkey, which is a fairly dollarized small open economy, we document that the Central Bank of Turkey has given relatively more importance to the inflation gap than to the output gap or to exchange rates, but not until some time after it had switched to an inflation-targeting framework.Dual Extended Kalman Filter, Taylor Rule, inflation targeting, emerging markets

Delay Optimal Secrecy in Two-Relay Network

We consider a two-relay network in which a source aims to communicate a confidential message to a destination while keeping the message secret from the relay nodes. In the first hop, the channels from the source to the relays are assumed to be block-fading and the channel states change arbitrarily -possibly non-stationary and non-ergodic- across blocks. When the relay feedback on the states of the source-to-relay channels is available on the source with no delay, we provide an encoding strategy to achieve the optimal delay. We next consider the case in which there is one-block delayed relay feedback on the states of the source-to-relay channels. We show that for a set of channel state sequences, the optimal delay with one-block delayed feedback differs from the optimal delay with no-delayed feedback at most one block

To Obtain or not to Obtain CSI in the Presence of Hybrid Adversary

We consider the wiretap channel model under the presence of a hybrid, half duplex adversary that is capable of either jamming or eavesdropping at a given time. We analyzed the achievable rates under a variety of scenarios involving different methods for obtaining transmitter CSI. Each method provides a different grade of information, not only to the transmitter on the main channel, but also to the adversary on all channels. Our analysis shows that main CSI is more valuable for the adversary than the jamming CSI in both delay-limited and ergodic scenarios. Similarly, in certain cases under the ergodic scenario, interestingly, no CSI may lead to higher achievable secrecy rates than with CSI.Comment: 8 pages, 3 figure

Humility in Turkish University Student Athletes and Non-Athletes

The main purpose of the current research is to examine the humility of university student athletes and non-athletes. In addition, it has been another focus of whether the humility differ according to gender, age, department and monthly expenditure. Furthermore, the humility of the athlete students according to their sports type, sports years and the best athletic scores was investigated. In the present study, two different public universities from Istanbul and Ankara, aged between 18, 23 (Mage = 20.49 years SD = 1.35), 54.3% (n = 222) were female and 45.7% (n = 187) were male, a total of four hundred nine athlete and non-athlete students were included through convenience sampling. The instrument selected for the study was the Humility Scale which has been developed by Elliott (2010) and adapted to Turkish by Sarıçam et al. (2012). The total score and sub-dimensions of humility in the present study did not differ significantly by gender, age, monthly expenditure, athletic status (athletes or non-athletes), sport type (team or individual sports) and sport year. On the other hand, in the sub-dimension of focus on others, it was found that the students in the primary teaching department had significantly higher scores than the physical education and sports teacher students. In modest self-assessment sub-scale, the average score of athletes who have the best athletic score in a Turkey competition higher than athletes who have the best athletic score in a regional competition

BICYCLE TOURING EXPERIENCES AS A SOCIALINCLUSION ACTIVITY FOR VISUALLY DISABLED INDIVIDUALS

Purpose - This study is aimed towards examining the experiences of visually impaired people participating in tourism and recreational activities with tandem bicycles and to explain the social integration function of cycling. Design - The research was conducted using qualitative research methods in an exploratory study. Methodology - Data were collected through in-depth interviews with a total of six visually impaired touring cyclists in Turkey. Approach - An inductive approach was used in the study. Findings – After the analysis, four themes were identified: ‘embodied experiences,’ ‘equal difficulties,’ ‘friendships’ and ‘social inclusion.’ First, the analysis revealed that participants embodied experiences of nature, socialisation, freedom, entertainment, and exploration through body performance in a multisensory manner. Second, disabled people have similar challenges as non-disabled people. Third, friendships rather than acquaintances developed between tandem partners with and without visual impairments, which contributed to long-term social inclusion. Finally, cycling tours play an important role in the social inclusion of people with disabilities by facilitating access to the social environment and raising disability awareness Originality of the research - This study contributes to the expansion of theoretical and practical knowledge about the cycling experiences of disabled individuals in tourism and leisure

Doğu Akdeniz’in Değişen Jeopolitiği ve Türk Dış Politikası

Doğu Akdeniz tarih boyunca önemli bir bölge olmakla birlikte Soğuk Savaş döneminden bu yana Ortadoğu ve Kuzey Afrika bölgesinin bir uzantısı olarak kabul edilmiştir. Son yıllarda ise kendi dinamikleri ile önem kazanmış ve bağımsız bir alt-bölge haline gelmiştir. Doğu Akdeniz jeopolitiğinde yaşanan bu yapısal dönüşümden en çok etkilenen ülkelerin başında Türkiye gelmektedir. Doğu Akdeniz Türk dış politikasında büyük bir önem kazanmış ve Türkiye’nin güvenlik söyleminde geniş bir yer kaplamaya başlamıştır. Doğu Akdeniz’de yaşanan önemli jeopolitik kırılmalar bölge devletleri arasındaki güvenlik ilişkilerinin dönüşümüne yol açmakta ve Türkiye bu dönüşüme yanıt verme ihtiyacı duymaktadır. Bu çerçevede, bu makale realist uluslararası ilişkiler yaklaşımlarının ittifak oluşumlarına dair açıklamalarını temel alarak Doğu Akdeniz’deki ittifak oluşumlarını ve Türkiye’nin bu sürece nasıl bir yanıt verdiğini tartışmayı amaçlamaktadır. Söz konusu dönüşüm başlıca üç boyuta sahiptir. Birincisi bölgede keşfedilen hidrokarbon kaynakları bölge ülkeleri arasında hem iş birliği için fırsatlar yaratmış hem de çeşitli uyuşmazlıklara yol açmıştır. Enerji faktörü ittifak yapılarının temel değişkenlerinden biri haline gelmiştir. İkincisi Arap Baharı sonrasında artan bölgesel güvensizlikler ve istikrarsızlık tüm bölge ülkelerinin ittifak tercihlerini etkilemiştir. Üçüncüsü Doğu Akdeniz ve çevresinde artan büyük güç rekabeti bir yandan bölgenin askerileşmesine yol açmakta diğer yandan bölge ülkelerinin ittifak tercihlerini etkilemektedir. Yapısal dönüşümün bu üç boyutu birbirlerinden bağımsız süreçler değildir. Tam aksine birbirleriyle bağlantılı karmaşık süreçlerdir. Bu çalışmada, Doğu Akdeniz’in birbirleriyle bağlantılı üç dinamik çerçevesinde tanımlanan jeopolitik dönüşümünün Türk dış politikası üzerindeki etkileri tartışılmaktadır. Bu bağlamda, bu çalışmanın temel argümanı Doğu Akdeniz’de yaşanan jeopolitik dönüşümün Türkiye’yi güvenlik odaklı bir dış politikaya yönelttiği ve Doğu Akdeniz’in yeni jeopolitik yapısına uyum sağlama ihtiyacının Türk dış politikasındaki yeni denge arayışları ile eşzamanlı ortaya çıktığıdır

El impacto psicológico de la pandemia de COVID-19 en los atletas de élite, las estrategias de gestión y las expectativas de rendimiento post-pandemia: un estudio de entrevista semiestructurada

This article investigates the psychological impact of COVID-19 pandemic on elite athletes, their management strategies, and post-pandemic athletic performance expectations. Based on a purposive and snowball sampling technique eighteen elite athletes were interviewed online. The questioning includes thoughts, emotions, and behaviors in the pandemic process. Most athletes have concerns regarding the future (31.5%) and gained self-awareness (26.3%). 40% of athletes have been struggling with anxiety, however, 40.47 % of whom doing physical training at home while 33.33% of those are into mental training. Besides, 72.22% of athletes expect to lower their post-pandemic athletic performance. As a result of the study, most elite athletes have been going through anxiety about future enigma related to both sports environment and athletic performance. They mostly were able to overcome the process by doing physical and mental training at home. Most of them have expected to lower their athletic performance after getting back to the field.Este artículo investiga el impacto psicológico de la pandemia de COVID-19 en los atletas de élite, sus estrategias de manejo y sus expectativas de rendimiento post pandemia. Basadoen una técnica de muestreo intencional y bola de nieve, 18 atletas de élite fueron entrevistados en línea. El cuestionamiento involucró sus pensamientos, emociones y comportamiento en el período de la pandemia. La mayoría de los atletas tienen inquietudescon respecto al futuro (31.5%) y han aumentado su autoconciencia (26.3%). No obstante, el 40% de los atletas han estado luchando contra la ansiedad, con el 40.47% de ellos haciendo entrenamiento físico en casa, mientras que el 33.33% realiza entrenamientomental. Además, el 72.22% de los atletas esperan un desempeño atlético post pandemia más bajo. En consecuencia, la mayoría de los atletas de élite han estado sufriendo ansiedad como resultado de la preocupación por la situación actual y el rendimiento posterior a la situación y el entorno deportivo de entonces. En general, han podido manejar la situación haciendo entrenamiento físico y mental en casa. La mayoría anticipa una disminución en el rendimiento atlético después de regresar al campo.Universidad Pablo de Olavid