Browsing by Author "Ozdemir, Zeynel Abidin"
Now showing 1 - 2 of 2
- Results Per Page
- Sort Options
Article Citation Count: 7Is there an informal employment wage penalty in Egypt? Evidence from quantile regression on panel data(Physica-verlag Gmbh & Co, 2020) Tansel, Aysit; Keskin, Halil Ibrahim; Ozdemir, Zeynel AbidinThis is the first study that uses panel data to assess the magnitude of the informal sector wage gap in Egypt. We consider the private sector male wage earners in Egypt and examine their wage distribution during 1998-2012 using the Egyptian Labor Market Panel Survey. We estimate Mincer wage equations both at the mean and at different quantiles of the wage distribution taking into account observable and unobservable characteristics with a fixed effect model. We also consider the possibility of nonlinearity in covariate effects and estimate a variant of matching models. We find a persistent informal wage penalty in the face of extensive sensitivity checks. It is smaller when unobserved heterogeneity is taken into account, and unlike many previous studies, there are very few differences across the conditional wage distribution. We also examine the informal wage penalty over time and in different subgroups according to age and education. The informal wage penalty has increased recently over time and is larger for the higher educated and the young.Article Citation Count: 14The nexus between the oil price and its volatility risk in a stochastic volatility in the mean model with time-varying parameters(Elsevier Sci Ltd, 2019) Balcilar, Mehmet; Ozdemir, Zeynel AbidinHigh price volatility in oil markets creates uncertainty and risk, and increased risk premium may feed back into the prices. This study investigates the dynamic nexus between oil price and its volatility for oil spot and futures markets by means of stochastic volatility in the mean model with time-varying parameters in the conditional mean. The study finds substantial time-variation about the impact of oil price volatility on oil price return in both spot and 1-month to 10-month futures markets. The oil price return volatility has a positive impact on oil price return series over the sample period form the mid-1980s to 2017s except for four very short time periods, which correspond to collapse of OPEC in 1986, invasion of Kuwait in 1990/91, Asian crisis in 1997/2000 and the Global Financial Crisis in 2008. While the oil price return volatility has a positive impact on oil prices, it has limited negative impact on oil prices during periods corresponding to these historical events. Moreover, the findings from this study point out to the existence of a negative and small effect of the lagged oil return series on its volatility for both the spot and futures markets.