Omay, Tolga

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Profile URL
https://hdl.handle.net/20.500.14411/7237
Name Variants
T.,Omay
Omay, Tolga
O., Tolga
Tolga, Omay
Omay,T.
O.,Tolga
T., Omay
Omay T.
Job Title
Profesor Doktor
Email Address
tolga.omay@atilim.edu.tr
Main Affiliation
Economics
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Website
ORCID ID
Scopus Author ID
23978235900
Turkish CoHE Profile ID
Google Scholar ID
WoS Researcher ID
GDI-4259-2022

Sustainable Development Goals

2

ZERO HUNGER
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0

Research Products

14

LIFE BELOW WATER
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2

Research Products

17

PARTNERSHIPS FOR THE GOALS
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7

Research Products

5

GENDER EQUALITY
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0

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16

PEACE, JUSTICE AND STRONG INSTITUTIONS
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0

Research Products

8

DECENT WORK AND ECONOMIC GROWTH
DECENT WORK AND ECONOMIC GROWTH Logo

11

Research Products

4

QUALITY EDUCATION
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0

Research Products

6

CLEAN WATER AND SANITATION
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0

Research Products

7

AFFORDABLE AND CLEAN ENERGY
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3

Research Products

10

REDUCED INEQUALITIES
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2

Research Products

11

SUSTAINABLE CITIES AND COMMUNITIES
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1

Research Products

9

INDUSTRY, INNOVATION AND INFRASTRUCTURE
INDUSTRY, INNOVATION AND INFRASTRUCTURE Logo

3

Research Products

1

NO POVERTY
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0

Research Products

3

GOOD HEALTH AND WELL-BEING
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2

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12

RESPONSIBLE CONSUMPTION AND PRODUCTION
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1

Research Products

13

CLIMATE ACTION
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7

Research Products

15

LIFE ON LAND
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1

Research Products
Documents

80

Citations

1218

h-index

20

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Documents

72

Citations

1070

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Scholarly Output

65

Articles

55

Views / Downloads

19/0

Supervised MSc Theses

4

Supervised PhD Theses

2

WoS Citation Count

431

Scopus Citation Count

500

WoS h-index

13

Scopus h-index

13

Patents

0

Projects

0

WoS Citations per Publication

6.63

Scopus Citations per Publication

7.69

Open Access Source

32

Supervised Theses

6

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JournalCount
Applied Economics5
Computational Economics5
Springer Proceedings in Business and Economics -- 4th International Conference on Banking and Fice Perspectives, ICBFP 2019 -- 2 May 2019 through 3 May 2019 -- Famagusta -- 2737293
Mathematics3
Environmental Science and Pollution Research2
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Author: Hasanov, MubarizHas files: false

Scholarly Output Search Results

Now showing 1 - 4 of 4
  • Thumbnail Image
    Article
    Citation - WoS: 9
    Citation - Scopus: 8
    Hysteresis and Stochastic Convergence in Eurozone Unemployment Rates: Evidence From Panel Unit Roots With Smooth Breaks and Asymmetric Dynamics
    (inst Badan Gospodarczych, 2022) Corakci, Aysegul; Omay, Tolga; Hasanov, Mubariz
    Research background: Studying the dynamic characteristics of unemployment rate is crucial for both economic theory and macroeconomic policies. Despite numerous research, the empirical evidence about stochastic behaviour of the unemployment rate remains disputable. It has been widely agreed that most economic variables, including unemployment rates, are characterized by both structural breaks and nonlinearities. However, a little work is done to examine both features simultaneously. Purpose of the article: In this paper, we analyse the stationarity properties of unemployment rates of Euro area member countries. Also, we aim to test stochastic convergence of unemployment rates among member countries. Our empirical procedures explicitly allow for simultaneous gradual breaks and nonlinearities in the series. Methods: This paper develops a new unit root test procedure for panel data, allowing for both gradual structural breaks and asymmetric adjustment towards equilibrium. We carry out Monte Carlo simulations to examine small sample performance of the proposed test procedure and compare it to the existing test procedures. We apply the newly proposed test to examine the stochastic properties of the unemployment rates of Euro-member countries as well as relative unemployment rates vis-a-vis the Eurozone unemployment rate. Findings & value added: We find that the newly developed test procedure outperforms existing tests in highly nonlinear settings. Also, these tests reject the null hypothesis of unit root in more cases when compared to the existing tests. We find stationarity in the series only after allowing for structural breaks in the data generating process. Allowing for nonlinear and asymmetric adjustment in addition to gradual breaks provides evidence of stationarity in more cases. Furthermore, our results suggest that relative unemployment rate series are stationary, providing evidence in favour of stochastic convergence in unemployment rates. Overall, our results imply a limited room for coordinated economic policy to fight unemployment in the Eurozone.
  • Thumbnail Image
    Article
    Citation - WoS: 20
    Citation - Scopus: 20
    Testing for Unit Roots in Dynamic Panels with Smooth Breaks and Cross-Sectionally Dependent Errors
    (Springer, 2018) Omay, Tolga; Hasanov, Mubariz; Shin, Yongcheol
    We develop the extended unit root testing procedure for dynamic panels characterised by slowly moving trends (SMT) and cross-section dependence (CSD). We allow SMT to follow the smooth logistic transition function and the components error terms to contain the unobserved common factors. We propose the two panel unit root test statistics, one derived by the extended common correlated effects (CCE) estimator and the other based on the Sieve bootstrap. We have conducted extensive simulation exercises and document that the failure to take into account SMT and CSD may lead to misleading inference. On the other hand, we find that both bootstrap and CCE-based tests maintain good power properties in small samples in the presence SMT and CSD. We apply our proposed tests to real interest rates for 17 OECD countries and find overwhelming evidence in favour of the Fisher hypothesis.
  • Thumbnail Image
    Article
    Citation - WoS: 37
    Citation - Scopus: 37
    Structural Break, Nonlinearity and Asymmetry: a Re-Examination of Ppp Proposition
    (Routledge Journals, Taylor & Francis Ltd, 2018) Omay, Tolga; Emirmahmutoglu, Furkan; Hasanov, Mubariz
    In this study, we examine the validity of the PPP proposition for 28 European countries. For this purpose, we propose a new unit root test procedure that allows for both gradual structural breaks and asymmetric nonlinear adjustment towards the equilibrium level. Small-sample properties of the new tests are examined through Monte-Carlo simulations. The simulation results suggest that the new tests have satisfactory size and power properties. We then apply these new tests along with other unit root tests to examine stationarity properties of real exchange rate series of the sample countries. Our tests reject the null of unit root in more cases when compared to alternative tests. Overall, we find that the PPP proposition holds in majority of the European countries examined in this article.
  • Thumbnail Image
    Article
    Citation - WoS: 19
    Citation - Scopus: 17
    Testing Ppp Hypothesis Under Temporary Structural Breaks and Asymmetric Dynamic Adjustments
    (Routledge Journals, Taylor & Francis Ltd, 2020) Omay, Tolga; Shahbaz, Muhammed; Hasanov, Mubariz
    We test the empirical validity of the PPP proposition under temporary structural breaks and dynamic nonlinear adjustments. Although several testing procedures have recently been proposed in the existing literature to investigate stochastic properties of the series under gradual breaks and nonlinear adjustments, none of these tests are compatible with the PPP proposition. Therefore, we propose new testing procedures that restrict the break to be temporary while simultaneously allowing for asymmetric dynamic nonlinear adjustment towards equilibrium. Using these newly proposed tests, we test stationarity of real exchange rate of 24 OECD countries vis-a-vis USA, and find support in favour of PPP proposition in majority of the countries.