Asymmetric relationship between global and national factors and domestic food prices:evidence from Turkey with novel nonlinear approaches

This study investigates the asymmetric relationship between global and national fac-tors and domestic food prices in Turkey,considering the recent rapid and continuous increase in domestic food prices.In this context,six global and three national explana-tory variables were included,and monthly data for the period from January 2004 to June 2021 were used.In addition,novel nonlinear time-series econometric approaches,such as wavelet coherence,Granger causality in quantiles,and quantile-on-quantile regression,were applied for examination at different times,frequencies,and quan-tiles.Moreover,the Toda-Yamamoto(TY)causality test and quantile regression(QR)approach were used for robustness checks.The empirical results revealed that(i)there is a significant relationship between domestic food prices and explanatory variables at different times and frequencies;(ii)a causal relationship exists in most quantiles,excluding the lowest quantile,some middle quantiles,and the highest quantile for some variables;(iii)the power of the effect of the explanatory variables on domestic food prices varies according to the quantiles;and(iv)the results were validated by the TY causality test and QR,which show that the results were robust.Overall,the empiri-cal results reveal that global and national factors have an asymmetric relationship with domestic food prices,highlighting the effects of fluctuations in global and national variables on domestic food prices.Thus,the results imply that Turkish policymakers should consider the asymmetric effects of global and national factors on domestic food prices at different times,frequencies,and quantiles.

The role of disaggregated renewable energy consumption on income and load capacity factor:A novel inclusive sustainable growth approach

Stimulating renewable energy consumption is a major focus of the Sustainable Development Goals in combating climate change and global warming.The International Energy Agency estimates that renewable energy consumption should be doubled to achieve the COP21 targets.In this context,the question is whether renewable energy types promote the improvement of ecological quality and economic growth.Most studies have investigated the influence of renewable energy on ecological pollution using carbon dioxide emissions or ecological footprint indicators,which only represent the pollution caused by human consumption patterns,and these indicators neglect the supply side.Motivated by this point,this study uses the LCF(Load Capacity Factor)as an environmental indicator and examines the causality relationship among different types of renewable energy,income,and environmental quality in the USA,while also incorporating employment and capital stock into the analysis.Through using the Fourier causality test with the wavelet-decomposed series,the study explores for the validity of the renewable energy-based growth hypothesis and answers to the question of whether there is a causal effect of renewable energy types on environmental quality.The results demonstrate that there is a bidirectional causality between total renewable energy,wood,biomass,and economic growth as well as between these renewable energy types and the LCF.