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Article Citation - WoS: 7Citation - Scopus: 6Are Capital Ratios Procyclical? Evidence From Turkish Banking Data(de Gruyter Poland Sp Zoo, 2018) Neslihan Topbas, Turguttopbas; International Trade and LogisticsThis paper contributes to the literature by providing recent empirical evidence about the positioning of the capital adequacy ratios (Basel II capital adequacy ratio and leverage ratio as proposed by Basel III) of Turkish banks and the business cycle. As in many emerging countries, the Turkish real sector is highly dependent on the banking loans for financing, and consequently, the macroeconomic system is vulnerable to the supply of bank loans. The results reveal that the Basel II capital adequacy ratio of Turkish banks is procyclical at a statistical significance in normal and crisis times. The results of cyclicality tests of the leverage ratio are mixed: if nominal GDP growth is taken as a business cycle indicator, it is procyclical; however, the credit-to-GDP gap signals countercyclical leverage ratios in normal times. In crisis times, the leverage ratio of the Turkish banking system is determined to be countercyclical.Article Citation - WoS: 2Citation - Scopus: 2Perspectives on Monetary Policy and Cost of Capital: Evidence From Turkey(de Gruyter Poland Sp Zoo, 2017) Turguttopbas, NeslihanThe target of monetary policy is generally set as to create an environment of manageable employment and affordable long-term interest rates. However, priorities of central banks may differ depending on economic and financial circumstances of individual countries. Modern approaches to monetary policy transmission can be grouped under two headings, Money View and Credit View. The money view concentrates on interest rates to explain the effects of monetary policy on aggregate spending by creating an interest rate channel. The credit channel transmission approach focuses on the supply of credits by banks following a monetary policy shift in interest rates. In 2010, the Central Bank of Turkey (CBT) developed an interest rate corridor shaped by one-week and overnight repo lending to the financial banks to absorb excessive volatility caused by short-term capital inflows. Under this framework, the CBT implements its monetary policy in two ways; firstly it can alter the interest rates of weekly repo as well as O/N lending rate. Secondly, it can configure the funding structure it provides to the financial intermediaries. In such a framework, the interest rate transmission mechanism has been operated by two benchmark interest rates, one of which is the weighted average of the cost of funds provided by the CBT and the other is the interest rate in Borsa Istanbul (BIST) money market transactions at an overnight maturity. There is a strong co-movement between the interest rates and they are affected by the movements in the CBT lending rate in both directions. Interest rates applied to deposits and loans by banks are affected by the policy rate (CBT Average Funding Rate) and the market rate (BIST O/N Repo Rate).Article Citation - WoS: 7Citation - Scopus: 7A Generalized Class of Correlated Run Shock Models(de Gruyter Poland Sp Zoo, 2018) Yalcin, Femin; Eryilmaz, Serkan; Bozbulut, Ali RizaIn this paper, a generalized class of run shock models associated with a bivariate sequence {(X-i, Y-i)}(i >= 1) of correlated random variables is defined and studied. For a system that is subject to shocks of random magnitudes X-1, X-2, ... over time, let the random variables Y-1, Y-2, ... denote times between arrivals of successive shocks. The lifetime of the system under this class is defined through a compound random variable T = Sigma(N)(t=1) Y-t, where N is a stopping time for the sequence {Xi}(i >= 1) and represents the number of shocks that causes failure of the system. Another random variable of interest is the maximum shock size up to N, i.e. M = max {X-i, 1 <= i <= N}Distributions of T and M are investigated when N has a phase-type distribution.Article Citation - WoS: 4Citation - Scopus: 4Physical Properties of Neodymium Tin Oxide Pyrochlore Ceramics(de Gruyter Poland Sp Zoo, 2017) Saleh, Adli A.; Qasrawi, A. F.; Yumusak, G.; Mergen, A.In this work, physical properties of neodymium tin oxide pyrochlore ceramics prepared by solid state reaction technique are investigated by means of X-ray diffraction, scanning electron microscopy, ultraviolet-visible light (UV-Vis) spectrophotometry and temperature dependent electrical resistivity measurements. The pyrochlore is observed to have a cubic FCC crystal lattice with lattice parameter of 10.578 angstrom. The planes of the cubic cell are best oriented in the [2 2 2] direction. From the X-ray, the UV-Vis spectrophotometry and the electrical resistivity data analysis, the grain size, strain, dislocation density, optical and thermal energy band gaps, localized energy band tail states and resistivity activation energies are determined and discussed. The pyrochlore is observed to have an optical energy band gap of similar to 3.40 eV. This value corresponds to 365 nm UV light spectra which nominates the neodymium tin oxide pyrochlore ceramics for the use as UV sensors.Article Citation - WoS: 13Citation - Scopus: 16A Short Note on the Common Fixed Points of the Geraghty Contraction of Type es<(de Gruyter Poland Sp Zoo, 2018) Alqahtani, Badr; Fulga, Andreea; Karapinar, ErdalIn this paper, we propose a new contraction type for two self-mappings and investigate the necessary conditions for the existence and uniqueness of coincidence points and common fixed points, respectively. We put some examples to illustrate our main results.
