The informal economy and business cycles

A vast literature has focused on what causes businesses to move into informality and what is the impact of an enlarging informal sector on growth. This paper shows that the size of the informal economy also affects business cycle volatility. Informal businesses are usually small in size, which not only prevents them from achieving economies of scale and from operating with the right capital/labor mix, but also restricts their access to credit markets. Because firms operating informally lack access to credit markets to neutralize the cash flow squeeze arising during recessions, they are more exposed to fluctuations in economic activity and more likely to fail. Using a Generalized Method of Moments methodology, this paper shows that countries with larger informal economies tend to undergo increased volatility in output, investment and consumption over the business cycle.business cycles, informal sector, legal institutions

Can a Two-Sector Business Cycle Model Account for the 2001 Recession of Turkey?

This paper investigates whether a two-sector small open economy real business cycle model calibrated to match Turkish data is able to account for the simultaneous sharp reversal in the current account, real exchange rate depreciation, and the severe recession observed in the aftermath of the 2001 financial and currency crisis of Turkey. Estimated shocks for the model's eight exogenous variables are used to simulate model dynamics, and the resulting time series are compared to the actual series. The model does a fairly good job in matching the output drop, while it faces difficulty in matching the sharp real exchange rate depreciation.Business cycles, Turkey

Revealing Seed Coat Colour Variation and Their Possible Association with Seed Yield Parameters in Common Vetch ( Vicia sativa

The seed coat colour variation of 70 common vetch genotypes were determined by using uniform colour scale (L⁎a⁎b⁎) and their possible correlation with seed yield parameters including the number of pods per plant, the number of seeds per pod, pod dimension, and seed yield (kg/da) was determined. The results revealed presence of highly significant (p<0.01) variations for both the seed yield and the seed coat colour parameters measured. The number of pods per plant, the number of seeds per pod, and seed yield ranged from 5.8 to 16.03, from 5.2 to 7.66, and from 143.37 to 531.1, respectively. The lightness value varied from 19.00 to 40.28 while chromaticity a⁎ and b⁎ values ranged from −0.16 to 8.99 and from 0.79 to 22.11, respectively. The highest correlation coefficients were determined between b⁎ and L⁎ (r=0.73), and a⁎ and L⁎ (r=0.55). The seed coat colour traits and seed yield parameters generally showed weak negative correlations. Seed yellowness (b⁎) and seed yield had correlation coefficient of −0.25, while correlation between L⁎ and seed yield was determined as −0.23. The results indicated that lightness and yellowness of seed coat may be used as an important parameter to prescreen high yield genotypes of common vetch

Printing-while-moving: a new paradigm for large-scale robotic 3D Printing

Building and Construction have recently become an exciting application ground for robotics. In particular, rapid progress in materials formulation and in robotics technology has made robotic 3D Printing of concrete a promising technique for in-situ construction. Yet, scalability remains an important hurdle to widespread adoption: the printing systems (gantry- based or arm-based) are often much larger than the structure to be printed, hence cumbersome. Recently, a mobile printing system - a manipulator mounted on a mobile base - was proposed to alleviate this issue: such a system, by moving its base, can potentially print a structure larger than itself. However, the proposed system could only print while being stationary, imposing thereby a limit on the size of structures that can be printed in a single take. Here, we develop a system that implements the printing-while-moving paradigm, which enables printing single-piece structures of arbitrary sizes with a single robot. This development requires solving motion planning, localization, and motion control problems that are specific to mobile 3D Printing. We report our framework to address those problems, and demonstrate, for the first time, a printing-while-moving experiment, wherein a 210 cm x 45 cm x 10 cm concrete structure is printed by a robot arm that has a reach of 87 cm.Comment: 6 pages, 7 figur

Basel Regulations, Economic Capital and Their Implications for the Turkish Banking Industry

Sermaye tüm ekonomik birimlerin en hayati kaynak unsurlarındandır. Ayrıca, özellikle bankalar için hesaplanması ve yönetilmesi gereken temel finansal göstergelerden birisidir. Yasal sermaye olarak adlandırılan, bankalar için gerekli sermaye standartlarının oluşturulabilmesi amacıyla Basel Bankacılık Komitesi on yıllardır farklı prensipler üzerinde mutabakat sağlanması amacıyla çalışmalar yürütmektedir. Bankaların sermaye gereksinimi konusunda önem arz eden bir başka kavram olan ekonomik sermaye ise banka sermaye gerekliliği konusundaki tüm bu çalışmaların bir anlamda nihai ürünü olarak, taşınan risklerin rakamsal şekilde ölçülmesi vasıtasıyla banka sermayesinin optimum olarak hesaplanmasını ifade etmektedir. Bu çalışmada tüm bu süreç teorik olarak açıklanmaya çalışılmış ve bu durumun Türk Bankacılık Sektörü açısından işaret ettiği hususlar özetlenmiştir.Capital is one of the crucial financial sources of fund for all economic agents. It is also a basic financial indicator that should be measured and managed, especially for banks. Basel Banking Committee has been publishing a number of standards for almost two decades in order to establish harmonized capital requirement for banks, which set basis for regulatory capital. On the other hand, economic capital, which is another concept in managing capital in banks, is a consequence of theoretical studies and risk management and capital requirement practices. It is defined as the optimum bank capital level measured by quantifying all relevant risks involved. In this paper, these capital regulations are explained and implications of Basel Rules and economic capital models for The Turkish Banking Industry are summarized

Bekir Sıdkı Çobanzade's Book Named Kumuk Dili ve Edebiyatı Tedkikleri; text- analysis (grammatica)-index

Bu çalışmada Kırımlı Dilci Bekir Sıdkı Çobanzade'nin 'Kumuk Dili ve Edebiyatı Tedkikleri' adlı eseri incelenmiştir. Söz konusu eser Osmanlı Türkçesiyle yazılmış olup edebiyat, sarf, numuneler ve lügatçe ana bölümlerinden oluşmuştur.Amacımız eserin ikinci yarısını teşkil eden Kumuk edebiyatı numunelerinden hareketle Kumuk Türkçesinin kelime zenginliğini, ses ve şekil bilgisi özelliklerini tespit etmektir. Giriş bölümünde Kumuk halkının tarihi, dili ve edebiyatı, Bekir Sıdkı Çobazade'nin hayatı, eserleri ve edebi kişiliği hakkında genel bilgiler yer almaktadır. İnceleme bölümünde numunelerin imla, ses ve şekil bilgisi özellikleri üzerinde durulmuştur. Metin bölümünde Arap harfleriyle yazılmış 'Kumuk Dili ve Edebiyatı Tedkikleri' adlı eserin transkripsiyonu yapılmıştır. Dizin bölümünde numunelerdeki bütün kelimeler anlamlarıyla birlikte verilmiştirIn this research the book named Kumuk Dili ve Edebiyatı Tedkikleri which is written by Crimean Philologist Bekir Sıdkı Çobanzade was analyzed. The mentioned book consists of literature, grammar, sample texts and glossary and is written in Ottoman Turkish. Our aim is to identify the vocabulary, phonetics, morphology of Kumuk Turkish thanks to examining the sample Kumuk Literature texts that form the second half of the book. In the entrance section the history and literature of Kumuk people; the life, books and literary character of Bekir Sıdkı Çobanzade were told. In the analysis section spelling, phonetics and morphology were focused. The transcription of the book named 'Kumuk Dili ve Edebiyatı Tedkikleri' and written in Arabic Alphabet was made in the text section. All the vocabulary written in the sample texts were given with their meanings in the index section

Basel Regulations, Economic Capital and Their Implications for the Turkish Banking Industry

Sermaye tüm ekonomik birimlerin en hayati kaynak unsurlarındandır. Ayrıca, özellikle bankalar için hesaplanması ve yönetilmesi gereken temel finansal göstergelerden birisidir. Yasal sermaye olarak adlandırılan, bankalar için gerekli sermaye standartlarının oluşturulabilmesi amacıyla Basel Bankacılık Komitesi on yıllardır farklı prensipler üzerinde mutabakat sağlanması amacıyla çalışmalar yürütmektedir. Bankaların sermaye gereksinimi konusunda önem arz eden bir başka kavram olan ekonomik sermaye ise banka sermaye gerekliliği konusundaki tüm bu çalışmaların bir anlamda nihai ürünü olarak, taşınan risklerin rakamsal şekilde ölçülmesi vasıtasıyla banka sermayesinin optimum olarak hesaplanmasını ifade etmektedir. Bu çalışmada tüm bu süreç teorik olarak açıklanmaya çalışılmış ve bu durumun Türk Bankacılık Sektörü açısından işaret ettiği hususlar özetlenmiştir.Capital is one of the crucial financial sources of fund for all economic agents. It is also a basic financial indicator that should be measured and managed, especially for banks. Basel Banking Committee has been publishing a number of standards for almost two decades in order to establish harmonized capital requirement for banks, which set basis for regulatory capital. On the other hand, economic capital, which is another concept in managing capital in banks, is a consequence of theoretical studies and risk management and capital requirement practices. It is defined as the optimum bank capital level measured by quantifying all relevant risks involved. In this paper, these capital regulations are explained and implications of Basel Rules and economic capital models for The Turkish Banking Industry are summarized

An Analysis of the Effects of School Practice Courses (School Experience, Teaching Practice) on Prospective Physical Education Teachers' Attitudes towards Physical Education Teaching as a Profession (Case of Düzce University)

The study is conducted to examine the effects of school practice courses on prospective physical education teachers' attitudes towards their professions. 73 pre-service teachers, 30 women and 43 men, who took teaching practice courses in the spring semester of 2018-2019, participated in the study at the Department of Physical Education and Sport Education, Faculty of Sports Sciences, Düzce University. As a pre-test and post-test, the 23-item '' Attitude towards the Physical Education Teaching Profession '' test consisting of the sub-dimensions of ''love for the profession '' and ''professional anxiety'' developed by Unlu (2011) was applied. SPSS 20.0 package program was used in the analysis the data. Paired Samples t-test was used for the analysis of pretest-posttest results. Independent Samples t-test was used in binary variables and One-Way ANOVA test was used in variables with three or more groups. Significance level was taken as p &lt;0.05. In conclusion; the analyzes for the sub-dimensions of attitude to the physical education profession and total attitudes were compared, a significant difference in favor of the posttest in terms of love for the profession, professional anxiety and total attitudes towards the profession was observed. Regarding the gender variable, pre-test and post-test scores of female participants show they have a higher attitude towards love sub-dimension. According to the national athlete variable, the pre-test and post-test scores of non-national teacher trainees are higher in the sub-dimension of love for the profession than nationals