Browsing by Author "Akdi,Y."

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Determining Harmonic Fluctuations in Food Inflation
(World Scientific Publishing Co., 2022) Akdi,Y.; Ünlü,K.D.; Baş,C.; Karamanoğlu,Y.E.; Industrial Engineering; 06. School Of Engineering; 01. Atılım University
In this study, we start with a brief expression of consumer price index of Turkey. In the next step, we give the theoretical essentials of periodogram-based unit root and harmonic regression model. Periodogram-based unit root test is used to identify both the stationarity of data and periodicities. Periodicity is beyond seasonality; it is the hidden cycles in the data. Thus, it is harder to detect them compared to seasonal cycles. Harmonic-regression-type trigonometric regression models are useful in modeling data which have hidden periodicity. Afterward, the stationarity properties of monthly inflation and monthly food inflation of Turkey for the period between 2004 and 2020 are investigated. Standard augmented Dickey-Fuller unit root test shows that both series are integrated of order one. However, the periodogram-based unit root test shows that monthly inflation has unit root but monthly food inflation does not. After examining the unit root, the hidden cycles in the food inflation are revealed. The cycles in food inflation are important because they may trigger a headline inflation. The main contribution of this study is the identification of the hidden cycles in food inflation. It has cycles of approximately two, four, six and eight years. These cycles, in short, correspond to cycles of two years of consecutive periods. © 2022 by World Scientific Publishing Europe Ltd.
Citation - Scopus: 3
The Relationship Between Different Price Indexes: a Set of Evidence From Inflation Targeting Countries
(IOS Press, 2006) Akdi,Y.; Berument,H.; Cilasun,S.M.; Olgun,H.; Department of Business; 17. Graduate School of Social Sciences; 01. Atılım University
The possible long-run relationships between the Consumer Price Index and the Wholesale Price Index are analyzed for three inflation targeting countries - Canada, Sweden and the UK - using three different statistical techniques. The Engle-Granger test finds cointegration only for Sweden. The Johansen's test and the model-free and seasonality robust periodogram based test conclusively show that the two price indexes are not cointegrated in the three countries included in the sample. Hence, the values of these indexes may consistently diverge over time. However, the two price indexes move together in the short run. These findings have some implications for the success of inflation targeting monetary policies. © 2006 - IOS Press and the authors. All rights reserved.