Browsing by Author "Yeldan, A. Erinc"

Now showing 1 - 8 of 8

Citation - Scopus: 1
Beyond the Quest for a Technological Holy Grail: Patterns of Income Inequality and the Household Carbon Footprint in Turkey
(Cambridge University Press, 2025) Gürer, E.; Satloglu, B.; Voyvoda, E.; Erinç Yeldan, A.; Yeldan, A. Erinc; Satioglu, Bingul
Utilizing data on household consumption expenditure patterns and sectorial greenhouse gas emissions, we study the extent of inequality over Turkish households' differentiated carbon footprint incidences. We harmonize the household budget survey data of the Turkish Statistical Institute (TURKSTAT) with production-based gas emissions data from EXIOBASE3 and investigate both the direct and indirect emissions across household-level income strata. Our calculations reveal that the households in the highest income decile alone are responsible for 19.4 percent of the overall (direct and indirect) emissions, whereas the bottom 10 percent of households are responsible for 4.3 percent. We also find that for direct emissions, the per-household average of the highest income decile exceeds that of the lowest income decile by a factor of 11.2. Notably, 87 percent of the indirect emissions budget for the poorest decile is linked to food and housing expenses, underscoring their susceptibility to climate policies. We confer that in designing the net-zero emission pathways to combat climate change, it would not suffice to study the technological transition of decarbonization solely and that the successful implementation of an indigenous environmental policy will ultimately depend upon the socio-economic factors of income distribution strata, indicators of consumption demand, and responsiveness of the individual households to react to price signals. © 2025 The Author(s).
Citation - WoS: 2
Citation - Scopus: 4
Green Central Banking Under High Inflation-More of a Need Than an Option: an Analytical Exposition for Turkey
(Wiley, 2023) Unuvar, Burcu; Yeldan, A. Erinc
Motivation: Calls for a green monetary policy are intensifying as the climate crisis deepens. Although the leading central banks of low-inflation countries are the spokesmodels of this discussion, considerations of green central banking under high inflation continue to lag. The motivation of this article is to contribute to this process with a working example from Turkey-an economy under severe inflationary pressure.Purpose: Our first objective is to document the risks associated with climate change for the Central Bank of the Republic of Turkey (CBRT) in terms of its main mandate of price stability and to provide evidence to pursue green policies. We next examine the feasibility of a green monetary design under high inflation.Methods and approach: We scrutinize the duties and responsibilities of the CBRT as set by law and set out the armoury it would have at its disposal in pursuing a green monetary policy. Exhibiting climate change-related risks to its mandate(s), we find one climate policy-related and two mandate-related reasons for the CBRT to go green, matching them with robust green instruments.Findings: Adopting a green monetary policy has the potential to improve the CBRT's ability to reach its objective of price stability. Indicating that green central banking in a high-inflation country is more of a need than an option, we also document that greening of the monetary policy does not necessarily conflict with the broad mandates of inflation targeting and financial stability.Policy implications: Evidence from Turkey supports the greening of the CBRT. This call is both feasible in terms of its capabilities and critical as regards fulfilling the mandate. Furthermore, by exposing carbon bias in the country's loan portfolio, our findings support aligning monetary policy with emissions-abatement instruments, thus contributing to the overall design of Turkey's climate policies.
Macroeconomics of Greening Turkish Agriculture: A General Equilibrium Analysis of Input Rationalization Policies
(Routledge Journals, Taylor & Francis Ltd, 2026) Yeldan, A. Erinc; Karakoc, Ulas
With the aid of an applied general equilibrium model, we study the macroeconomic effects of various policy alternatives to stimulate the implications of the greening of Turkish agriculture. Our results suggest that the reduction in chemicals, including synthetic fertilizers, and fossil oil combustion at alternative rates of 30% and 50% would significantly reduce carbon emissions, but at the expense of adverse effects on agricultural output. In response, the negative effects on agricultural output can be reversed by a targeted investment programme that could facilitate technological change and a commensurate rationalization of the rural economy, resulting in enhanced gains in agricultural productivity. We argue that the warranted funds towards such productivity-enhancing investments can be earmarked by the introduction of a nationwide carbon tax, and that they would boost not only agricultural output and rural incomes but could also mitigate the adverse transition costs on GDP and social welfare.
Citation - WoS: 41
Citation - Scopus: 50
Potential Effects of the Eu's Carbon Border Adjustment Mechanism on the Turkish Economy
(Springer, 2022) Acar, Sevil; Asici, Ahmet Atil; Yeldan, A. Erinc
In December 2019, the EU announced the European Green Deal (EGD) to create a climate-neutral continent by 2050. Accordingly, the EU Emission Trading System (ETS) will be revised to maintain economic growth against possible losses in competitiveness, leading to carbon leakage. Carbon border adjustment (CBA) is one of the mechanisms proposed to tackle the carbon leakage problem. In this paper, we provide a first-order estimate of the potential impacts of a possible CBA across production sectors and build a dynamic, multi-sectoral applied general equilibrium (AGE) model to study the overall macroeconomic impact of the EGD on the Turkish economy. Then, we extend our analysis to document the potential benefits of a more active climate policy. The model is in the Walrasian tradition wherein aggregate supply and demand actions are simulated with the interplay of relative prices to bring equilibrium in the markets for goods, for labor, and for foreign exchange. Constructed around 24 production sectors, the model accommodates flexible, multi-level functional forms to link production activities with gaseous emissions, a government entity to maintain taxation, and public expenditures, as well as administration of environmental policy instruments, all within an open-economy macroeconomic environment. Our results suggest that the potential adverse impact of the CBA on the Turkish economy would range between 2.7 and 3.6% loss of the GDP by 2030 over the business-as-(un)usual base path. We also document that under an alternative scenario through which Turkey is modeled as an active agent in the international climate policy arena embedding decarbonization into her official macroeconomic policy agenda, she can achieve a superior pathway for national income and a reduced carbon burden.
Salgının Ekonomik Yaşama Etkileri
(2021) Yeldan, Erinç; Yeldan, A. Erinc
[Abstract Not Available]
Citation - WoS: 12
Citation - Scopus: 16
Transforming Türkiye's Power System: An Assessment of Economic, Social, and External Impacts of an Energy Transition by 2030
(Elsevier, 2023) Acar, Sevil; Kat, Bora; Rogner, Mathis; Saygin, Deger; Taranto, Yael; Yeldan, A. Erinc
Türkiye has the long-term goal of transforming its power system to one that is cleaner, more secure and more affordable. According to this paper's scenario analyses, low-cost renewables can supply 55% of T & uuml;rkiye's total electricity demand. Coupled with the electrification of end-use sectors, energy efficiency can reduce total power demand by 10% compared to a business as usual scenario by 2030. The paper assesses the social, economic, and environmental impacts of this transformation by soft linking a power system model with an applied computable general equilibrium model, using an updated input and output dataset, and employing a novel analysis of job creation and fossil fuel externalities. The power system transformation significantly improves social welfare with net socioeconomic benefits estimated at 1% of GDP by 2030. Positive impacts include a reduction in human health and climate change externalities by a third, which are further enhanced by wage income growth that is driven by higher skilled and better paid jobs. A carbon tax emerges as a critical instrument to realize these benefits whilst reducing the power sector's emissions to 2030. The assessment should be expanded with more ambitious clean energy technology deployment for the entire energy system to operationalize T & uuml;rkiye's Paris-aligned 2053 net-zero emission target and just transition policies.
Citation - WoS: 14
Citation - Scopus: 15
Turkey in Turbulence: Heterodoxy or a New Chapter in Neoliberal Peripheral Development?
(Wiley, 2023) Orhangazi, Ozgur; Yeldan, A. Erinc; Erinç Yeldan, A.
While global monetary tightening by central banks, led by the US Federal Reserve, has heightened concerns about a slowdown in the world's economy and an increased likelihood of debt crises across developing countries, Turkey has attracted attention for doing the opposite. Indeed, the country's economic policy makers have intensified monetary easing towards credit expansion at the risk of increased exchange rate instability. This article analyses the Turkish case and makes four contributions. First, it establishes a framework through which we can understand and interpret the policy choices of the government. Second, it shows the binding effects of the trilemma in the context of an economy fully integrated in the global economy and discusses how the government tried to tackle these effects through a series of ad hoc policy measures. Third, the article discloses the distributional consequences of such policy manoeuvres and argues that the burden of adjustment fell on the shoulders of wage labour, while various competing rentier interests benefited from these policies. Fourth, the authors analyse these policies from a broader perspective of whether they can be interpreted as a courageous attempt by a peripheral developing economy to claim some policy space, or whether these policy choices in essence only amount to a deepening of neoliberal peripheralization.
Citation - WoS: 6
Turkey: Challenges and Strategies Toward De-Carbonization and Sustainable Development Under the Age of Finance
(Taylor & Francis Ltd, 2023) Yeldan, A. Erinc
The aim of this paper is to present the key challenges and structural constraints as well as potential strategies toward de-carbonization and the green transformation in Turkey, and to argue that the current mode of global finance in many ways conspires to constrain Turkey's quest for a sustainable and green industrial policy. I consider Turkey's conundrum against the backdrop of its speculation-led growth patterns and ongoing fossil fuel-based production cycle and highlight the tradeoffs and dilemmas of the pursuit for green abatement policies, given the logic of financialization.