Details about Tolga Omay

Access statistics for papers by Tolga Omay.

Last updated 2025-02-18. Update your information in the RePEc Author Service.

Short-id: pom19

Working Papers

2024

1. Can governments sleep more soundly when holding international reserves? A banking and financial vulnerabilities perspective
   Post-Print, HAL
   See also Journal Article Can governments sleep more soundly when holding international reserves? A banking and financial vulnerabilities perspective*, Applied Economics, Taylor & Francis Journals (2024) (2024)

2021

2. Is There Really Hysteresis in OECD Countries’ Unemployment Rates? New Evidence Using a Fourier Panel Unit Root Test
   MPRA Paper, University Library of Munich, Germany View citations (11)

2019

3. A Tale of Two Taxes: State-Dependency of Tax Policy
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University View citations (1)
   See also Journal Article A tale of two taxes: State‐dependency of tax policy, Scottish Journal of Political Economy, Scottish Economic Society (2024) (2024)
4. Current Account and Credit Growth: The Role of Household Credit and Financial Depth
   MPRA Paper, University Library of Munich, Germany View citations (1)
   See also Journal Article Current account and credit growth: The role of household credit and financial depth, The North American Journal of Economics and Finance, Elsevier (2020) View citations (12) (2020)
5. Does U.K.’s Real GDP have a Unit Root? Evidence from a Multi-Century Perspective
   Working Papers, University of Pretoria, Department of Economics View citations (1)
6. Sharp and Smooth Breaks in Unit Root Testing of Renewable Energy Consumption: The Way Forward
   MPRA Paper, University Library of Munich, Germany View citations (11)

2016

7. Is Real Per Capita State Personal Income Stationary? New Nonlinear, Asymmetric Panel-Data Evidence
   Working papers, University of Connecticut, Department of Economics
   Also in Working Papers, University of Pretoria, Department of Economics (2014)
   Working papers, University of Connecticut, Department of Economics (2015)
   See also Journal Article Is real per capita state personal income stationary? New nonlinear, asymmetric panel‐data evidence, Bulletin of Economic Research, Wiley Blackwell (2020) View citations (4) (2020)

2015

8. Inflation-Growth Nexus in Africa: Evidence from a Pooled CCE Multiple Regime Panel Smooth Transition Model
   Working Papers, University of Pretoria, Department of Economics View citations (3)
9. The US Real GNP is Trend-Stationary After All
   Working Papers, University of Pretoria, Department of Economics
   See also Journal Article The US real GNP is trend-stationary after all, Applied Economics Letters, Taylor & Francis Journals (2017) View citations (10) (2017)

2014

10. Structural Break, Nonlinearity, and Asymmetry: A re-examination of PPP proposition
    MPRA Paper, University Library of Munich, Germany View citations (4)
    See also Journal Article Structural break, nonlinearity and asymmetry: a re-examination of PPP proposition, Applied Economics, Taylor & Francis Journals (2018) View citations (15) (2018)

2013

11. Nonlinearity and Smooth Breaks in Unit Root Testing
    MPRA Paper, University Library of Munich, Germany View citations (7)
    See also Journal Article Nonlinearity and Smooth Breaks in Unit Root Testing, Econometrics Letters, Bilimsel Mektuplar Organizasyonu (Scientific letters) (2014) View citations (8) (2014)

2012

12. Energy Consumption and Economic Growth: Evidence from Nonlinear Panel Cointegration and Causality Tests
    Hacettepe University Department of Economics Working Papers, Hacettepe University, Department of Economics View citations (9)
    Also in MPRA Paper, University Library of Munich, Germany (2012) View citations (11)
    See also Journal Article Energy consumption and economic growth: Evidence from nonlinear panel cointegration and causality tests, Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA) (2014) View citations (18) (2014)
13. The Relationship between Inflation, output growth, and their Uncertainties: Evidence from selected CEE countries
    Hacettepe University Department of Economics Working Papers, Hacettepe University, Department of Economics View citations (5)
    Also in MPRA Paper, University Library of Munich, Germany (2010) View citations (9)
    See also Journal Article The Relationship Between Inflation, Output Growth, and Their Uncertainties: Evidence from Selected CEE Countries, Emerging Markets Finance and Trade, Taylor & Francis Journals (2011) View citations (28) (2011)
14. The comparison of optimization algorithms on unit root testing with smooth transition
    MPRA Paper, University Library of Munich, Germany View citations (2)

2011

15. The effects of terrorist activities on foreign direct investment: nonlinear Evidence
    MPRA Paper, University Library of Munich, Germany

2010

16. A Nonlinear New Approach to Investigating Crisis: A Case from Malaysia
    MPRA Paper, University Library of Munich, Germany View citations (1)
17. On fractional filtering versus conventional filtering in economics
    MPRA Paper, University Library of Munich, Germany View citations (3)

2009

18. The relationship between output growth and inflation: Evidence from Turkey
    MPRA Paper, University Library of Munich, Germany View citations (1)
    See also Journal Article THE RELATIONSHIP BETWEEN OUTPUT GROWTH AND INFLATION: EVIDENCE FROM TURKEY, Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova (2010) View citations (3) (2010)

2008

19. The Term Structure of Interest Rate as a Predictor of Inflation and Real Economic Activity: Nonlinear Evidence from Turkey
    MPRA Paper, University Library of Munich, Germany View citations (1)

2006

20. Türkiye için reaksiyon fonksiyonunun doğrusal olmayan modelle tahmin edilmesi
    (A nonlinear estimation of monetary policy reaction function for Turkey)
    MPRA Paper, University Library of Munich, Germany

Journal Articles

2024

1. A Unit Root Test with Markov Switching Deterministic Components: A Special Emphasis on Nonlinear Optimization Algorithms
   Computational Economics, 2024, 64, (3), 1837-1856
2. A tale of two taxes: State‐dependency of tax policy
   Scottish Journal of Political Economy, 2024, 71, (1), 1-27
   See also Working Paper A Tale of Two Taxes: State-Dependency of Tax Policy, CAMA Working Papers (2019) View citations (1) (2019)
3. Can governments sleep more soundly when holding international reserves? A banking and financial vulnerabilities perspective*
   Applied Economics, 2024, 56, (15), 1748-1762
   See also Working Paper Can governments sleep more soundly when holding international reserves? A banking and financial vulnerabilities perspective, Post-Print (2024) (2024)
4. Re-examining the real interest rate parity hypothesis under temporary gradual breaks and nonlinear convergence
   Portuguese Economic Journal, 2024, 23, (3), 355-382
5. The Refinement of a Common Correlated Effect Estimator in Panel Unit Root Testing: An Extensive Simulation Study
   Mathematics, 2024, 12, (22), 1-25 View citations (1)

2023

6. A note on CO2 emissions using two new tests
   Empirica, 2023, 50, (4), 933-941
7. Controlling Heterogeneous Structure of Smooth Breaks in Panel Unit Root and Cointegration Testing
   Computational Economics, 2023, 61, (1), 233-265
8. Convergence of GHGs emissions in the long-run: aerosol precursors, reactive gases and aerosols—a nonlinear panel approach
   Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2023, 25, (11), 12303-12337
9. Is there convergence in renewable energy deployment? Evidence from a new panel unit root test with smooth and sharp structural breaks
   Renewable Energy, 2023, 205, (C), 648-662 View citations (7)
10. Testing the Efficiency of Emerging Markets: Evidence from Nonlinear Panel Unit Tests
    Panoeconomicus, 2023, 70, (2), 261-278 View citations (1)

2022

11. Convergence of per capita energy consumption around the world: New evidence from nonlinear panel unit root tests
    Energy Economics, 2022, 111, (C) View citations (11)
12. Hysteresis and stochastic convergence in Eurozone unemployment rates: evidence from panel unit roots with smooth breaks and asymmetric dynamics
    Oeconomia Copernicana, 2022, 13, (1), 11-55
13. Oil and stock prices: New evidence from a time varying homogenous panel smooth transition VECM for seven developing countries
    International Journal of Finance & Economics, 2022, 27, (1), 1085-1100 View citations (1)
14. Using Double Frequency in Fourier Dickey–Fuller Unit Root Test
    Computational Economics, 2022, 59, (2), 445-470 View citations (8)

2021

15. Comparison of optimization algorithms for selecting the fractional frequency in Fourier form unit root tests
    Applied Economics, 2021, 53, (7), 761-780 View citations (5)
16. High Persistence and Nonlinear Behavior in Financial Variables: A More Powerful Unit Root Testing in the ESTAR Framework
    Mathematics, 2021, 9, (20), 1-21 View citations (1)
17. Is there really hysteresis in the OECD unemployment rates? New evidence using a Fourier panel unit root test
    Empirica, 2021, 48, (4), 875-901 View citations (9)
18. Regime dependent causality relationship between energy consumption and GDP growth: evidence from OECD countries
    Applied Economics, 2021, 53, (19), 2230-2241 View citations (1)
19. Smooth Break Detection and De-Trending in Unit Root Testing
    Mathematics, 2021, 9, (4), 1-25 View citations (7)
20. The Relationship between Stock Returns, Bitcoin Returns, and Risk Aversion: Evidence from a Multivariate GARCH Model
    Sosyoekonomi Journal, 2021

2020

21. Current account and credit growth: The role of household credit and financial depth
    The North American Journal of Economics and Finance, 2020, 54, (C) View citations (12)
    See also Working Paper Current Account and Credit Growth: The Role of Household Credit and Financial Depth, MPRA Paper (2019) View citations (1) (2019)
22. Does real U.K. GDP have a unit root? Evidence from a multi-century perspective
    Applied Economics, 2020, 52, (10), 1070-1087 View citations (1)
23. Is real per capita state personal income stationary? New nonlinear, asymmetric panel‐data evidence
    Bulletin of Economic Research, 2020, 72, (1), 50-62 View citations (4)
    See also Working Paper Is Real Per Capita State Personal Income Stationary? New Nonlinear, Asymmetric Panel-Data Evidence, Working papers (2016) (2016)
24. Testing PPP hypothesis under temporary structural breaks and asymmetric dynamic adjustments
    Applied Economics, 2020, 52, (32), 3479-3497 View citations (12)
25. Testing the hysteresis effect in the US state-level unemployment series
    Journal of Applied Economics, 2020, 23, (1), 329-348 View citations (4)

2019

26. Behavior of foreign investors in the Malaysian stock market in times of crisis: A nonlinear approach
    Journal of Asian Economics, 2019, 60, (C), 85-100 View citations (8)
27. Market development and market efficiency: evidence based on nonlinear panel unit root tests
    The European Journal of Finance, 2019, 25, (11), 979-993 View citations (4)
28. Testing the Current Account Sustainability for BRICS Countries: Evidence from a Nonlinear Framework
    Economics Bulletin, 2019, 39, (1), 310-320 View citations (3)

2018

29. Global risk aversion and emerging market return comovements
    Economics Letters, 2018, 173, (C), 118-121 View citations (36)
30. Inflation–growth nexus: evidence from a pooled CCE multiple-regime panel smooth transition model
    Empirical Economics, 2018, 54, (3), 913-944 View citations (9)
31. Structural break, nonlinearity and asymmetry: a re-examination of PPP proposition
    Applied Economics, 2018, 50, (12), 1289-1308 View citations (15)
    See also Working Paper Structural Break, Nonlinearity, and Asymmetry: A re-examination of PPP proposition, MPRA Paper (2014) View citations (4) (2014)
32. Testing for Unit Roots in Dynamic Panels with Smooth Breaks and Cross-Sectionally Dependent Errors
    Computational Economics, 2018, 52, (1), 167-193 View citations (12)

2017

33. Nonlinear error correction based cointegration test in panel data
    Economics Letters, 2017, 157, (C), 1-4 View citations (3)
34. PPP hypothesis and temporary structural breaks
    Economics Bulletin, 2017, 37, (3), 1541-1548 View citations (1)
35. Re-examining the real interest rate parity hypothesis (RIPH) using panel unit root tests with asymmetry and cross-section dependence
    Empirica, 2017, 44, (1), 91-120 View citations (12)
36. Real interest rates: nonlinearity and structural breaks
    Empirical Economics, 2017, 52, (1), 283-307 View citations (16)
37. The Comparison of Power and Optimization Algorithms on Unit Root Testing with Smooth Transition
    Computational Economics, 2017, 49, (4), 623-651 View citations (11)
38. The US real GNP is trend-stationary after all
    Applied Economics Letters, 2017, 24, (8), 510-514 View citations (10)
    See also Working Paper The US Real GNP is Trend-Stationary After All, Working Papers (2015) (2015)

2016

39. A Note on the Examination of the Fisher Hypothesis by Using Panel Co-Integration Tests with Break
    Journal for Economic Forecasting, 2016, (2), 13-26 View citations (4)

2015

40. An empirical examination of the generalized Fisher effect using cross-sectional correlation robust tests for panel cointegration
    Journal of International Financial Markets, Institutions and Money, 2015, 35, (C), 18-29 View citations (6)
41. ENERGY CONSUMPTION AND GROWTH: NEW EVIDENCE FROM A NON-LINEAR PANEL AND A SAMPLE OF DEVELOPING COUNTRIES
    The Singapore Economic Review (SER), 2015, 60, (02), 1-30 View citations (5)
42. Fractional Frequency Flexible Fourier Form to approximate smooth breaks in unit root testing
    Economics Letters, 2015, 134, (C), 123-126 View citations (56)

2014

43. A Note on the Efficiency Effects of Agglomeration Economies: Turkish Evidence
    Journal of Reviews on Global Economics, 2014, 3, 186-189
44. A Survey about Smooth Transition Panel Data Analysis
    Econometrics Letters, 2014, 1, (1), 18-29 View citations (5)
45. Energy consumption and economic growth: Evidence from nonlinear panel cointegration and causality tests
    Applied Econometrics, 2014, 34, (2), 36-55 View citations (18)
    See also Working Paper Energy Consumption and Economic Growth: Evidence from Nonlinear Panel Cointegration and Causality Tests, Hacettepe University Department of Economics Working Papers (2012) View citations (9) (2012)
46. Nonlinearity and Smooth Breaks in Unit Root Testing
    Econometrics Letters, 2014, 1, (1), 1-9 View citations (8)
    See also Working Paper Nonlinearity and Smooth Breaks in Unit Root Testing, MPRA Paper (2013) View citations (7) (2013)
47. Reexamining the PPP hypothesis: A nonlinear asymmetric heterogeneous panel unit root test
    Economic Modelling, 2014, 40, (C), 184-190 View citations (42)
48. Terrorism and the Stock Market: A Case Study for Turkey Using STR Models
    Journal of Reviews on Global Economics, 2014, 3, 220-227 View citations (3)

2013

49. The Effects of Terrorist Activities on Foreign Direct Investment: Nonlinear Evidence from Turkey
    Review of Economics, 2013, 64, (2), 139-158 View citations (3)

2011

50. The Relationship Between Inflation, Output Growth, and Their Uncertainties: Evidence from Selected CEE Countries
    Emerging Markets Finance and Trade, 2011, 47, 5-20 View citations (28)
    See also Working Paper The Relationship between Inflation, output growth, and their Uncertainties: Evidence from selected CEE countries, Hacettepe University Department of Economics Working Papers (2012) View citations (5) (2012)
51. The relationship between inflation, output growth, and their uncertainties: Nonlinear Multivariate GARCH-M evidence
    Economics Bulletin, 2011, 31, (4), 3006-3015 View citations (10)

2010

52. Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies
    Economic Modelling, 2010, 27, (5), 996-1005 View citations (75)
53. THE RELATIONSHIP BETWEEN OUTPUT GROWTH AND INFLATION: EVIDENCE FROM TURKEY
    Journal of Applied Economic Sciences, 2010, 5, (1(11)_Spring2010), 55-63 View citations (3)
    See also Working Paper The relationship between output growth and inflation: Evidence from Turkey, MPRA Paper (2009) View citations (1) (2009)
54. The effects of inflation uncertainty on interest rates: a nonlinear approach
    Applied Economics, 2010, 42, (23), 2941-2955 View citations (8)
55. Türkiye için Reaksiyon Fonksiyonunun Doğrusal Olmayan Modelle Tahmin Edilmesi
    Journal of Humanities and Social Sciences, 2010, 2, (7), 467-490

2009

56. THE ENDOGENOUS AND NON-LINEAR RELATIONSHIP BETWEEN TERRORISM AND ECONOMIC PERFORMANCE: TURKISH EVIDENCE
    Defence and Peace Economics, 2009, 20, (1), 1-10 View citations (22)
57. Testing for unit root in nonlinear heterogeneous panels
    Economics Letters, 2009, 104, (1), 5-8 View citations (112)

2008

58. Monetary policy rules in practice: Re-examining the case of Turkey
    Physica A: Statistical Mechanics and its Applications, 2008, 387, (16), 4309-4318 View citations (15)
59. Nonlinearities in emerging stock markets: evidence from Europe's two largest emerging markets
    Applied Economics, 2008, 40, (20), 2645-2658 View citations (14)

2007

60. Are the Transition Stock Markets Efficient? Evidence from Non-Linear Unit Root Tests
    Central Bank Review, 2007, 7, (2), 1-12 View citations (16)

Chapters

2024

1. Static and Dynamic Connectedness Between Green Bonds and Clean Energy Markets
   Springer

2019

2. Asymmetric Effects of Credit Growth on the Current Account Balance: Panel Data Evidence
   Springer
3. Fiscal Sustainability from a Nonlinear Framework: Evidence from 14 European Countries
   Springer View citations (1)
4. Nonlinearity in Emerging European Markets: Pre and Post Crisis Periods
   Springer

2009

5. Solving Technological Change Model by Using Fractional Calculus
   Springer View citations (2)