ISE and Exchange Market Pressure

This article aims at investigating the long-run relationship between stock prices and speculative pressure in the Turkish exchange market through Granger-causality analysis for the period 1986:01-2006:11. For this purpose an Exchange Market Pressure Index is built using the weighted average of exchange rate changes, interest rate changes and foreign exchange reserve changes. This index is then used in pairwise causality analyses with Istanbul Stock Exchange (ISE) National-100 Index. Results of the ADF unit root tests suggest that the series are stationary. Hence, no-cointegration analysis was carried out before the Granger-causality tests. Results of Granger-causality indicates that there exists no long-run relationship between stock prices and the speculative pressure in the exchange market in Turkey.currency crises; stock prices; co-integration; exchange market pressure.

Warped product skew semi-invariant submanifolds of order 1 of a locally product Riemannian manifold

We introduce warped product skew semi-invariant submanifolds of order $1$ of a locally product Riemannian manifold. We give a necessary and sufficient condition for skew semi-invariant submanifold of order 1 to be a locally warped product. We also prove that the invariant distribution which is involved in the definition of the submanifold is integrable under some restrictions. Moreover, we find an inequality between the warping function and the squared norm of the second fundamental form for such submanifolds. Equality case is also discussed

The Income Effects of Decentralization of Population in Korea: An Econometric Investigation

non-Capital Regions has become a serious issue despite the various decentralization policies instituted since the 1960’s. This study aims at analyzing the effect of decentralization of population in the capital region on income, and revealing the difference in productivity between the Capital and non-capital regions. The analysis begins with an estimate of production functions by region. It then analyzes the changes to employment as population decreases in the Capital region, and the economic effects on regional production through the movement of employment in each region. The results show that, decentralization in the capital region would result in decrease national income in Korea.Decentralization Policy; Total Factor Productivity; Product Function

Range separated hybrid exchange-correlation functional analyses of W and/or N(S) (co)doped anatase TiO_2

Electronic properties and atomic structures of W, N, S, W/N, and W/S dopings of anatase TiO_2 have been systematically investigated using the density functional theory (DFT). The exchange and correlation effects have been treated with Heyd, Scuseria and Ernzerhof (HSE) hybrid functional. Mixing traditional semi-local and non-local screened Hartree-Fock (HF) exchange energies, the HSE method corrects the band gap and also improves the description of anion/cation derived gap states. Enhanced charge carrier dynamics, observed for W/N codoped titania, can partly be explained by the passivative modifications of N 2p and W 5d states on its electronic structure. Following this trend we have found an apparent band gap narrowing of 1.03 eV for W/S codoping. This is due to the large dispersion of S 3p states at the valance band (VB) top extending its edge to higher energies and Ti--S--W hybridized states appearing at the bottom of the conduction band (CB). W/S-TiO_2 might show strong visible light response comparable to W/N codoped anatase catalysts.Comment: 8 pages, 5 figures and 3 table