Browsing by Author "Berument, Hakan"
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Article Citation Count: 3The effects of Japanese economic performance on Indonesia(Routledge Journals, Taylor & Francis Ltd, 2006) Ceylan, Nildağ Başak; Ceylan, Nildag Basak; Vural, Bengisu; Tourism ManagementThis paper assesses how Japanese economic performance affects the Indonesian economy for the 1988 to 2004 period. The empirical evidence provided here suggests that Japanese growth appreciates the local currency in real terms, decreases the inflation and increases growth. As a side issue, we also documented that real exchange rate depreciation accelerates inflation and decreases growth in Indonesia.Article Citation Count: 24Inflation uncertainty and interest rates: is the Fisher relation universal?(Routledge Journals, Taylor & Francis Ltd, 2007) Ceylan, Nildağ Başak; Ceylan, Nildag Basak; Olgun, Hasan; Tourism ManagementThis paper tests the validity of the Fisher hypothesis, which establishes a positive relation between interest rates and expected inflation, for the G7 countries and 45 developing economies. For this purpose, we estimate a version of the GARCH specification of the hypothesis for all countries included in the sample. We also test the augmented Fisher relation by including the inflation uncertainty in the equation. The simple Fisher relation holds in all G7 countries but in only 23 developing countries. There is a positive and statistically significant relationship between interest rates and inflation uncertainty for six of the G7 and 18 of the developing countries and this relationship is negative for seven developing countries.Article Citation Count: 30Performance of soccer on the stock market: Evidence from Turkey(Routledge Journals, Taylor & Francis Ltd, 2006) Ceylan, Nildağ Başak; Ceylan, Nildag Basak; Gozpinar, Esin; Tourism ManagementThis paper assesses the effect of soccer success on stock market returns for three major Turkish teams (Besiktas, Fenerbahce and Galatasaray) after certain characteristics of the stock market are controlled for. The empirical evidence presented here suggests that Besikta's win against foreign rivals in the Winner's Cup increases stock market returns. The same effect is not present for the other two big teams (Fenerbahce and Galatasaray). The day of the week effect on the stock market and the relationship between risk and return are also presented. (c) 2006 Elsevier Inc. All rights reserved.