Ensar Yılmaz - Academia.edu (original) (raw)

Papers by Ensar Yılmaz

Journal of Research in Economics

Identity economics has acquired its literature in the last twenty years. However, the theoretical... more Identity economics has acquired its literature in the last twenty years. However, the theoretical and methodological consistency of the concept is still quite weak, or the claims are no longer as sharp as it was at the beginning. Therefore, most of the followers of Akerlof and Kranton (2000) have considered identity as a variable rather than a vital part of the mechanism in explaining the behaviors. Except for John B. Davis, there is no attempt to clarify the arguments in the literature. Davis developed critiques to achieve the theoretical simplicity of identity economics. Although identity is a very complex concept, Davis insists on explaining it in an economic mechanism. Even if experimental research seems to be the applicable methodology for identity economics, in Kranton's research, the results of experiments present us systematic heterogeneity in social preferences for differentiated social identities which means there is no smooth behavioral path in her research yet to support the same claims in theory. In this article, we propose ethnographic and sociological field researches that can support the methodology that provide the purpose and result consistency. Although modeling identity might be evaluated as full of incoherence due to the problematics of identity economics, it brings us a broader parameter to understand differentiated social characteristics and preferences. This article seeks to simplify the modeling of identity and clarify progressive steps in the literature considering critical recommendations.

Social Indicators Research, 2021

Due to the lack of good-quality data, there has been no sound research about the economic welfare... more Due to the lack of good-quality data, there has been no sound research about the economic welfare of the Romani in the countries where they live. Drawing on a comprehensive survey conducted on the economic welfare of the Romani people in Turkey, we employed multidimensional poverty measures to capture the structural side of the poverty of the Romani in Turkey, in a comparative manner with the non-Romani majority. The paper also decomposes the determinants of the multidimensional poverty. This helps us to identify the structural, personal characteristics and discrimination components of the poverty. This simultaneously allows us to comprehend the endowment and discrimination effects of different income layers of both groups.

Economic Systems, 2021

Abstract In this study, we use rich survey data to understand the determinants of labor market su... more Abstract In this study, we use rich survey data to understand the determinants of labor market success across refugees of different ethnicities in Turkey. In particular, we examine individual personality traits and integration barriers by considering metrics of refugees’ proximity to Turkey based on their home countries’ levels of cultural distance. Using microdata, we derive a refined index called ethnosizer scale to grasp the distance of minor ethnic identities in Istanbul to the dominant identity. Utilizing this parameter, we aim to analyze how the degree of commitment to the local society’s culture affects the economic welfare of refugees in Istanbul, in terms of their earnings, participation in labor markets and wage gap compared to the natives.

Business and Economics Research Journal, 2020

This paper focused on measuring the systemic risks in Turkey's banking sector by using two major ... more This paper focused on measuring the systemic risks in Turkey's banking sector by using two major measures that have been proposed in the literature as conditional value at risk (CoVaR) and marginal expected shortfall (MES). In order to compute the contribution of banking sector to systemic risks, the MES and ΔCoVaR measures are estimated for the six Turkish banks, which are listed, on the Borsa Istanbul (BIST) during 2000-2016 period by using Engle's dynamic conditional correlation model. The preliminary results of this study show that although the measures provide different rankings for the systemic risk contributions, they turn out to be qualitatively very similar in explaining the cross-sectional differences in systemic risk contributions. Secondly, both systemic risk measures (MES and ΔCoVaR) are analyzed to determine the relationships between some variables associated with bank characteristics (e.g., VaR, size and leverage ratio) and banks' systemic risk contributions, via simple panel data regression methods.

Journal of Interdisciplinary Economics, 2016

Over the last decades, economists, political theorists and philosophers have debated the question... more Over the last decades, economists, political theorists and philosophers have debated the question of what the proper metric of justice is. In other words, they have sought to answer the questions what should we look at, when evaluating whether one state of affairs is more or less just than another? Should we evaluate the distribution of happiness? Or wealth? Or some combination of these and other factors? The resourcist approach and the capability approach as egalitarian theories of social justice are two prominent answers to these questions. While the former approach has been developed by the studies of John Rawls and Donald Dworkin, the latter approach has been associated with the studies of Amartya Sen and Martha Nussbaum. A fundamental debate between these approaches continues over what should be distributed. This paper attempts to bridge the gap between these approaches. By this we aim to bring their different perspectives together to reconsider the relationship between resourc...

The B.E. Journal of Economic Analysis & Policy, 2016

This paper aims to search links between market imperfections and functional income distribution. ... more This paper aims to search links between market imperfections and functional income distribution. For this purpose we construct a two-sector model – wage goods and luxury goods producing sectors – incorporating imperfections of the product and labor markets under income inequality. In a structure with interdependent and partially monopolistic and competitive markets, we analytically trace up the effects of the changes in power relations proxied by the degree of mark-ups in the product and labor market. The model shows that price and wage mark-ups in two sectors have crucial income distribution implications for the agents in the economy to varying extents. It also demonstrates the effect of the existence of the differentiated consumption patterns arising from income inequality on income distribution. Furthermore, it seems that unemployment level creates externalities on wage rate and on corporate taxes of firms.

Metu Studies in Development, Aug 8, 2007

Ozellikle 1990’li yillarda dunya genelinde bircok ulkenin bankacilik sektorunde yogun bir sekilde... more Ozellikle 1990’li yillarda dunya genelinde bircok ulkenin bankacilik sektorunde yogun bir sekilde yasanmaya baslayan sorunlar, ekonomistleri ve politika yapicilarini bu sorunlarin nedenleri uzerinde dusunmeye sevk etti. De jure mevduat sigortasi uygulamalarinin yarattigi ahlâki risk problemi, bu sorunlarin onemli nedenlerinden biri olarak gosterildi. Biz de bu calismada mevduat sigortasini uygulama nedenlerini ve bicimlerini tartistiktan sonra, neden oldugu ahlâki risk egilimini hem banka icin hem de mudi icin kurdugumuz model icinde gostermeye calistik.

Journal of Economic Issues, 2015

Abstract I aim at contributing to the academic debate about the relationship between functional i... more Abstract I aim at contributing to the academic debate about the relationship between functional income distribution and economic growth in regard to the large and open economy of Turkey in the period from 1987 to 2006. To this end, I propose a simple post-Keynesian model, so as to test whether the Turkish economy is wage or profit-led. I find evidence that, while a rising wage has a positive effect on investment, it does not affect consumption in Turkey. Hence the combined effect of a rising wage share on domestic demand (investment plus consumption) is positive. However, since exports and imports are so sensitive to labor costs, as they are in the case of Turkey, the regime becomes profit-led.

International Economic Journal, 2012

This study investigates the role of the exchange rate as shock-absorber as opposed to a source of... more This study investigates the role of the exchange rate as shock-absorber as opposed to a source of its own shocks in Turkey during the period from 1990 to 2009 by employing a structural VAR framework with long-run and short-run restrictions. We find that the economic shocks have predominantly been asymmetric relative to one of the largest trading partner, the US. Our results provide evidence of the fact that while the major source of variability in exchange rates in the pre-2001 crisis period is mainly nominal shocks, a large proportion of the exchange rate variability can be attributed to supply and demand shocks in the post-2001 crisis period. This suggets that, rather than reacting to shocks to the foreign exchange market, such as shifts in risk premia, the exchange rate moves mainly in response to the real shocks during the post-2001 crisis period. Hence, there is a sizeable role for exchange rate stabilization during this period, absorbing those shocks and therefore requiring opposed monetary policy responses.

Economic Modelling, 2011

This paper studies the impacts of income distribution on the efficiency of trade mechanism and ra... more This paper studies the impacts of income distribution on the efficiency of trade mechanism and rationing of agents who are priced out of trade in a dynamic search model with two-sided asymmetric information. Buyers and sellers have asymmetric information about valuations and incomes respectively. In such a frictional environment, the effects of several variants of changes in income distribution on efficiency of trading mechanism and the population of rationed buyers and sellers are elaborated.

Metroeconomica, 2013

How large are welfare costs related to economic aggregate fluctuations is a topic of great concer... more How large are welfare costs related to economic aggregate fluctuations is a topic of great concern among economists at least since Lucas's (1987) model. Our analysis assesses the magnitude of such costs for Turkey by means of two approaches: aggregate and disaggregate. The former approach uses aggregate data employing three alternative trend-cycle decomposition methods which are Lucas' classical set-up with deterministic linear trend for consumption, Hodrick and Prescott filter and one in which consumption trend is stochastic and whose implementation is performed using Beveridge–Nelson decomposition. The results of both approaches suggest that Turkey has high welfare costs associated with business cycles.

Nordic Journal of Political Economy, 2016

This paper analyzes the methodological perspectives of two great theorists, John Rawls and Amarty... more This paper analyzes the methodological perspectives of two great theorists, John Rawls and Amartya Sen, on the issue of justice. Rawls's justice as fairness and Sen's capability approach have an important place in contemporary moral and political theory. A fruitful methodological dialogue has developed between them over time in the context of justice. In this paper, we examine relevant arguments of this dialogue on their methodologies in dealing with the issue of justice. By doing this we draw attention to the emphasis of methodological issues in theorizing about justice because the methodological departing points of both Rawls and Sen are extremely critical on the formation of the substance of their distributive justice theories.

Economic Modelling, 2013

The paper mainly examines the relationship between economic growth, tax policy and sectoral labor... more The paper mainly examines the relationship between economic growth, tax policy and sectoral labor distribution in an endogenous growth model with expanding varieties. For analyzing these relationships, we consider an economy where three sectors of production are vertically integrated: final goods sector, intermediate goods sector and research sector. We show that the extent of imperfect competition in the intermediate products market affects both economic growth and the allocation of the available labor to all the sectors employing this input. The resources from capital taxation, which are used for financing research sector, have a U-shaped effect on growth and lead to a movement of the labor from research sector to final goods sector. Additionally, we show that if there exists a higher competitive structure in an economy, the probability of the positive effect of an increase in tax on growth gets higher.

Quantitative Finance, 2011

This paper searches for a regulator's optimal choice of capital requirements and auditing po... more This paper searches for a regulator's optimal choice of capital requirements and auditing policies, when it regulates banks that are exposed to different types of risk, and in the context of either full or asymmetric information. First, the regulator commits to auditing and designs a truth-revealing mechanism. Second, the regulator does not commit to auditing by characterizing the regulator's second-stage

Bulletin of Economic Research, 2012