Monetary Transmission Mechanism In An Open Economy Framework: The Case Of Turkey

Monetary transmission mechanism (MTM) is an illuminating policy tool in appreciating the monetary policy implementations by policy makers upon various nominal and real factors of interest in the eyes of economic agents. Especially in an open economy such as Turkish economy highly exposed to the effects of capital flows on domestic business cycles with a liberalised capital account, control over policy aggregates may be difficult since many other economic policy implementations would be of great consequence on some other policy targets on macroeconomic income generation process and in providing price stability and external balance. In this respect, in our paper we aim to estimate the MTM for the Turkish economy. Our ex-post estimates for the period 1992-2004 using contemporaneous vector autoregression models such as impulse response analysis indicate that weakly exogeneous capital inflows appreciate the real effective exchange rate, and in turn lower the real interest rates and domestic inflation while increasing both the real output growth and also the stock exchange index considering an asset-price channel for the latter and vice versa. We find some significant effects of the courses of capital flows and real effective exchange rate on monetary policy variable in the transmission mechanism, and such a case may impose an endogeneous characteristic on the policy variable given also that both domestic real interest structure is highly sensible to the monetary policy and that monetary policy is subject to the structural breaks in the sense of so-called Lucas’ critique of contemporaneous economics.Monetary Transmission Mechanism, Turkish Economy, Capital Flows, Real Exchange Rate, Real Interest Rate, Inflation, Income Growth, Stock Exchange, Price Puzzle

Probing Transition Metal Dichalcogenides via Strain-Tuned and Polarization-Resolved Optical Spectroscopy

The strong light-matter interaction in the atomically thin transition metal dichalcogenides (TMDCs) has allowed the use of optical spectroscopy to investigate these materials in great depth. It has been shown that optoelectronic properties of ultrathin TMDCs are remarkably different from their bulk counterparts. Among them, this dissertation focuses on ultrathin MoTe2 (molybdenum ditelluride) and ReS2 (rhenium disulfide). We first introduce the fundamental properties of the two material systems, MoTe2 and ReS2, investigated in this dissertation. Specific experimental methods for optical spectroscopy of 2D materials, 2D sample preparation, and related optics calculations are presented. Absorption and photoluminescence measurements are applied to demonstrate that semiconducting MoTe2, an indirect band gap bulk material, acquires a direct band gap in the monolayer limit. Furthermore, strain-tuned optical spectroscopy on MoTe2 shows that tensile strain can significantly redshift its optical gap and partially suppress the intervalley exciton-phonon scattering. This suppression results in a narrowing of the near-band excitonic transitions. We also discuss the effect of strain on the transport properties of MoTe2 due to this reduction in scattering. We investigate monolayer ReS2 as a TMDC system exhibiting strong in-plane anisotropy. These properties are explored by polarization-resolved spectroscopy. We show how the accessible optical properties vary with optical polarization. We find that the near-band excitons in ultrathin ReS2, absorb and emit light along specific polarizations. We also show that purely non-contact, optical techniques can determine the crystallographic orientation of ReS2

Finansal Gelisme ve Ekonomik Buyume Iliskisi: Turkiye Ekonomisi Uzerine Ekonometrik Bir Uygulama

In the relationship between financial development and economic growth, supply-leading and demand-following hypothesis have great importance. According to supply-leading hypothesis, financial development leads to economic growth, however demand following hypothesis asserts that the direction of the relationship runs from economic growth to financial development. In this study, financial development and economic growth relationship is examined for Turkey over the period of 1970-2004. Granger causality test results show that financial development leads to economic growth and support the supply-leading hypothesis for Turkey.Financial Development, Financial Repression, Economic Growth, Time Series, Unit Root, Granger Causality Test, Turkish Economy

A High Throughput Lab-On-A-Chip System for Label Free Quantification of Breast Cancer Cells under Continuous Flow

This paper presents an LOC system combining microfluidic DEP channel with a CMOS image sensor for label and lens free detection and real-time counting of MCF-7 cells under continuous flow. Trapped and then released MCF-7 cells are accurately detected and counted under flow with a CMOS image sensor integrated underneath the DEP channel, for the first time in the literature. CMOS image sensor can capture 391 frames per second (fps) that allows detection of the released cells flowing through the channel with a flow rate up to 130 mu l/min (0.468 m/s). Therefore, the proposed system is able to detect the cells under high flow where conventional techniques for cell quantification such as fluorescent tagging become unusable. Detected cells are automatically counted with a computer program and the counting accuracy of the whole system is 95%. (C) 2016 The Authors. Published by Elsevier Ltd

Serum Neopterin and Procalcitonin Levels in Relationship with Pediatric Burn Wound Infections

Infection and septic complications in burn patients can be monitored by procalcitonin (PCT) and neopterin plasma values. The aim of the study was to investigate serum neopterin and PCT levels with WBC (white blood cell) and CRP (C-reactive protein) levels in patient group (PG) and healthy control group (HCG) and to investigate the relationship of these markers with burn wound infections (BWI). As the PG, 23 patients between 0–12 ages and up to 30% Total Body Surface Area (TBSA) burned and 15 HCG were included. PCT, neopterin, WBC, and CRP results on the first, the seventh, the fourteenth and the 21st day have been compared. During the follow-up period, 11 patients with BWI and 12 patients without BWI were classified as infected and non-infected patients, respectively. PCT and neopterin levels were detected higher in patients with BWI but no significant difference were present. Also, PCT and neopterin levels within the first 24 hours following the burn were detected higher in PG than HCG. CRP and WBC levels were detected high due to burn trauma. PCT and neopterin levels were increased in patients with BWI. PCT levels were increased during the pre-infectious period, while neopterin levels increased during the post-infectious period

ARISTOTLE study and sub-group analyses: Conspicuous points

Aristotle study is a phase III study which evaluates apixaban's safety and efficacy as comparing to warfarin in patients with nonvalvular AF (NVAF) having at least one stroke risk factor of apixaban. 18.201 patients were evaluated in this randomized, controlled, multicentered study. This review will overview of the Aristotle study and subgroup analysis

A Large-Deformation Gradient Damage Model for Single Crystals Based on Microdamage Theory

This work aims at the unification of the thermodynamically consistent representation of the micromorphic theory and the microdamage approach for the purpose of modeling crack growth and damage regularization in crystalline solids. In contrast to the thermodynamical representation of the microdamage theory, micromorphic contribution to flow resistance is defined in a dual fashion as energetic and dissipative in character, in order to bring certain clarity and consistency to the modeling aspects. The approach is further extended for large deformations and numerically implemented in a commercial finite element software. Specific numerical model problems are presented in order to demonstrate the ability of the approach to regularize anisotropic damage fields for large deformations and eliminate mesh dependency

Simulation numérique de la fissuration par fatigue dans les monocristaux de superalliages à base de nickel

Single crystal components operating at elevated temperatures are subjected to severe thermomechanical loading conditions. The geometry and behaviour of these components are now very complex. A major issue is to develop models to predict crack initiation and crack growth in the presence of strong stress and temperature gradients. The strongly anisotropic elastoviscoplastic behaviour of the material which is a single crystal nickel base superalloy, must be taken into account. The corresponding model should be able to account for anisotropic crack growth and crack bifurcation in complex stress elds. Moreoever the model must be capable of predicting not only the crack growth rate but also the non-straight crack paths. Anisotropic damage mechanics is a well-suited theoretical framework for the development of crack growth models in single crystals. A model coupling crystal plasticity and cyclic damage has been developed in a previous project, that shows the interest of the approach, but also its current limits, in particular the strong mesh dependence of the results. Recent development of nonlocal models within the framework of the mechanics of generalized continua could help overcoming these difficulties. A large experimental basis exists concerning initiation and crack growth in single crystal nickel base superalloys. Finite element simulations of the thermomechanics of turbine blades provide detailed information about stress and plastic strain distribution, in particular near geometrical singularities like cooling holes and slits. First of all, on the basis of crystal plasticity theory which provides a solid link between stress and plastic strains, an uncoupled damage mechanics model based on the history of FE calculations will be presented. Afterwards, an incremental damage model based on generalized continua will be proposed and model predictions for the initiation and growth of microcracks by solving the mesh dependency, will be discussed.Les composants monocristallins fonctionnant à des températures élevées sont soumis à des conditions de chargement thermo-mécanique sévères. La géométrie et le comportement de ces composants sont très complexes. Un défi majeur est de développer des modèles mathématiques afin de prévoir l'initiation et la propagation de fissures en présence de contraintes importantes et de forts gradients de température. Dans ce cas, le comportement élastoviscoplastique fortement anisotrope du matériau étudié (superalliage à base Ni) doit être pris en compte. Le modèle correspondant doit être en mesure de rendre compte de la croissance anisotrope des fissures et de leur bifurcation dans des champs de contrainte complexes. De plus, le modèle doit être capable de prédire non seulement le taux de croissance des fissures mais aussi les chemins de fissuration. La mécanique de l'endommagement anisotrope est un cadre théorique bien adapté au développement de modèles de croissance de fissures dans les monocristaux. Au cours d'études précédentes, une loi de comportement couplant plasticité cristalline et endommagement cyclique a été développée, démontrant l'intérêt de cette approche, mais aussi ses limites, notamment du fait de la dépendance au maillage des résultats. Le développement récent de modèles non-locaux dans le cadre de la mécanique des milieux continus pourrait ainsi aider à surmonter ces difficultés. Une grande base expérimentale existe concernant l'initiation et la propagation de fissures dans les superalliages monocristallins à base de nickel. Les simulations thermomécaniques par éléments finis des aubes de turbine fournissent des informations détaillées sur la distribution des contraintes et des déformations plastiques, en particulier près de singularités géométriques comme les trous et les fentes de refroidissement. Tout d'abord, sur la base de la théorie de la plasticité cristalline qui établit un lien solide entre les contraintes et les déformations plastiques, un modèle découplé en mécanique de l'endommagement basé sur l'historique des calculs par éléments finis sera présenté. Ensuite, un modèle d'endommagement incrémental basé sur les milieux généralisés sera proposé et enfin, les prédictions du modèle pour l'initiation et la croissance de micro-fissures en résolvant le problème de dépendance au maillage seront discutés