Araştırma Makalesi

Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye

Sayı: 37 15 Ekim 2024
PDF İndir
TR EN

Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye

Öz

The objective of this paper is to investigate the "status quo bias,” which is a key concept in behavioral economics, using macroeconomic data from the recent economic crisis in Türkiye. The current global economic situation provides a favorable opportunity to analyze this idea, as there are abundant and relevant inputs for this type of study. Specifically, this paper analyzes the nexus between consumption and income before and after the economic crisis that triggered by the Covid-19 pandemic in Türkiye, with the aim of examining the "status quo bias” by employing ARDL Bounds Test. The analysis findings support that Türkiye has exhibited status quo bias for the period from 2013 to 2022. This research fills a gap in the literature by presenting evidence that Türkiye, a country that has been overlooked in the field of behavioral economics, exhibits the status quo bias in the context of recent economic crisis triggered by the Covid-19 outbreak.

Anahtar Kelimeler

Kaynakça

  1. Baker, S. R., Farrokhnia, R. A., Michaela Pagel, M., and Yannelis, C. (2020). How does household spending respond to an epidemic? Consumption during the 2020 COVID-19 Pandemic, The Review of Asset Pricing Studies, 10(4), 834–862. https://doi.org/10.1093/rapstu/raaa009.
  2. Brenner, M., and Galai, D. (1989). New financial ınstruments for hedging changes in volatility. Financial Analysts Journal. 45 (4), 61-65. doi:10.2469/faj.v45.n4.61.
  3. Central Bank of Republic of Türkiye (2023). Exchange Rates, Inflation Rate (CPI), Interest Rate on Personal Loans, January. Access adress: www.cbrt.gov.tr/en.
  4. Dean, M., Kıbrıs, Ö., and Masatlioglu, Y. (2017). Limited attention and status quo bias, Journal of Economic Theory, 169(C), 93-127.
  5. Guo, K., and Papa, N. (2010). Determinants of China's Private Consumption: An International Perspective. IMF Working Paper. 10/93.
  6. Investing.com. (2023, June). Volatility S&P Historical Data. https://www.investing.com/
  7. Johnson, E.J., and Goldstein, D.G. (2004). Defaults and donation decisions. Transplantation, 78 (12), 1713-1716.
  8. Kandil, M., Berument, H., and Dincer, N.N. (2007). The effects of exchange rate fluctuations on economic activity in Türkiye, Journal of Asian Economics, 18 (3), 466-489. https://doi.org/10.1016/j.asieco.2006.12.015.

Ayrıntılar

Birincil Dil

İngilizce

Konular

Uygulamalı Ekonomi (Diğer)

Bölüm

Araştırma Makalesi

Erken Görünüm Tarihi

12 Ekim 2024

Yayımlanma Tarihi

15 Ekim 2024

Gönderilme Tarihi

8 Haziran 2024

Kabul Tarihi

12 Eylül 2024

Yayımlandığı Sayı

Yıl 2024 Sayı: 37

Kaynak Göster

APA
Ozdinc, F. (2024). Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye. Iğdır Üniversitesi Sosyal Bilimler Dergisi, 37, 431-444. https://doi.org/10.54600/igdirsosbilder.1498098
AMA
1.Ozdinc F. Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye. SOSBİLDER. 2024;(37):431-444. doi:10.54600/igdirsosbilder.1498098
Chicago
Ozdinc, Feyza. 2024. “Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye”. Iğdır Üniversitesi Sosyal Bilimler Dergisi, sy 37: 431-44. https://doi.org/10.54600/igdirsosbilder.1498098.
EndNote
Ozdinc F (01 Ekim 2024) Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye. Iğdır Üniversitesi Sosyal Bilimler Dergisi 37 431–444.
IEEE
[1]F. Ozdinc, “Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye”, SOSBİLDER, sy 37, ss. 431–444, Eki. 2024, doi: 10.54600/igdirsosbilder.1498098.
ISNAD
Ozdinc, Feyza. “Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye”. Iğdır Üniversitesi Sosyal Bilimler Dergisi. 37 (01 Ekim 2024): 431-444. https://doi.org/10.54600/igdirsosbilder.1498098.
JAMA
1.Ozdinc F. Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye. SOSBİLDER. 2024;:431–444.
MLA
Ozdinc, Feyza. “Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye”. Iğdır Üniversitesi Sosyal Bilimler Dergisi, sy 37, Ekim 2024, ss. 431-44, doi:10.54600/igdirsosbilder.1498098.
Vancouver
1.Feyza Ozdinc. Examining the Status Quo Bias for the Recent Global Economic Crisis: The Case of Türkiye. SOSBİLDER. 01 Ekim 2024;(37):431-44. doi:10.54600/igdirsosbilder.1498098