Alp Erinç Yeldan

Yeldan, Alp Erinç

Name Variants

Y.,Alp Erinc
Yeldan, Alp Erinç
A. Yeldan
Yeldan, ALP ERINÇ
A. E. Yeldan
Y., Alp Erinç
Alp Erinc, Yeldan
Y., Alp Erinc
Yeldan, Alp Erinc
Yeldan, A. E.
Alp Erinç YELDAN
YELDAN A.
Yeldan E.
YELDAN, ALP ERINÇ
Erinç Yeldan A.
YELDAN, Alp Erinç
Yeldan A.
ALP ERINÇ YELDAN
Yeldan,A.E.
Yeldan, A.
Alp Erinç Yeldan
Yeldan,Alp Erinc
Yeldan, A. Erinc
Yeldan, A.E.
Yeldan, Alp Erinç
Yeldan, Erinç
Yeldan, A. Erinc
Yeldan, Erinç

Job Title

Prof. Dr.

Email Address

erinc.yeldan@khas.edu.tr

ORCID ID

0000-0002-3123-4374

Scopus Author ID

6602826996

Full item page

Scholarly Output

11

Articles

8

Citation Count

1

Supervised Theses

1 Scholarly Output Search Results

Now showing 1 - 10 of 10

Citation Count: 0
Toward a Green Income Support Policy: Investigating Social and Fiscal Alternatives for Turkey
(Cambridge Univ Press, 2023) Dogan, Berna; Tekguc, Hasan; Yeldan, Alp Erinc
The limited success of employment-based social protection measures under the diverging patterns of post-COVID-19 recovery rekindled interest in a social policy framework known as the Basic Income (BI) support. We test the potential of the BI program using five alternative scenarios ranging from households with income less than half of median income to all adults with estimates of their respective fiscal costs. We then employ an applied general equilibrium model to analyze the economy-wide effects and welfare implications for Turkey in the long run through 2030. We evaluate the macroeconomic and welfare effects of both a business-as-usual fiscal program and an alternative (green BI scenario) comprising of (i) carbon tax levied on the fossil fuel producing industry; (ii) corporate income taxation policy reform that aims at expanding the revenue base and consolidation of the fiscal space of the government; and (iii) restructuring of public consumption expenditures by introducing rationality and efficiency in the structure of fiscal expenditures. Our model solutions reveal that a green BI scenario not only achieves a higher GDP and welfare in the medium to long run but also helps Turkey to reduce its carbon emissions in line with the global policy challenges of a green recovery.
Citation Count: 1
Transforming Türkiye's Power System: an Assessment of Economic, Social, and External Impacts of an Energy Transition by 2030
(Elsevier B.V., 2023) Acar,S.; Kat,B.; Rogner,M.; Saygin,D.; Taranto,Y.; Yeldan,A.E.
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 Türkiye'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 Türkiye's Paris-aligned 2053 net-zero emission target and just transition policies. © 2023
Citation Count: 3
Turkey in Turbulence: Heterodoxy or a New Chapter in Neoliberal Peripheral Development?
(Wiley, 2023) Orhangazi, Ozgur; Yeldan, A. Erinc
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 Count: 2
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.
Citation Count: 0
A new energy-economy-environment modeling framework: Insights from decarbonization of the Turkish power Sector towards net-zero Emission targets
(Pergamon-elsevier Science Ltd, 2024) Kat, B.; Sahin, U.; Teimourzadeh, S.; Tor, O. B.; Voyvoda, E.; Yeldan, A. E.
The power sector plays a crucial role towards decarbonization for many economies, especially in line with the net-zero targets to limit global warming to 1.5 degrees C. Technical constraints intrinsic to the sector, penetration of new technologies, investment and operational costs, and its connections with the rest of the economy make the power sector a complex system to analyze. Although there are numerous studies to integrate bottom-up power sector technology models with top-down macroeconomic models, this study is the first attempt to link the three separate and interrelated models within a single framework: an electricity market simulation model, a generation expansion planning model, and an applied general equilibrium model. The proposed framework is implemented to analyze a feasible decarbonization scenario for T & uuml;rkiye, with a particular focus on the power sector. The results suggest that, given the existing capacity and potential for renewables, T & uuml;rkiye can achieve a coal-phase out by early 2030s, alongside a trajectory towards a full-fledged fossil fuel phase-out in power generation. The results also indicate that while installed capacity and generation of coal-fired power plants are reduced, real GDP and electricity demand can be maintained and the carbon dioxide emissions from the power sector could be reduced by as much as 50% in 2030 compared to 2018 levels.
Türkiye'de Banka Kredileri ile Emisyonlar Arasındaki İlişki: Bir Girdi-çıktı Analizi Yaklaşımı
(2023) Karabacak, Sümeyye; Yeldan, Alp Erinç
Finans sektörünün ekonomi-çevre ilişkisindeki yeri, son zamanlarda önemli bir tartışma konusu haline gelmiştir. Finansın kısa vadeli ve dalgalı doğasına odaklanmak, günümüz finansal sisteminin, özellikle de banka kredilerinin sürdürülebilir ekonomi ve iklim krizi konusundaki sorumluluğunu vurgulamak amacıyla bir araç olarak hizmet etmektedir. 'Özel sektör ve devlet dışındaki aktörlerin, özellikle finansal sistem için geçiş riskleri olmak üzere, bu felaket niteliğindeki iklim değişikliği sorunlarını ve beraberinde getirdiği riskleri çözmek için katılımı gereklidir (Carney, 2015; 2021).' Bu çalışma, Türkiye'de 2005-2020 yıllarını kapsayan bir Girdi-Çıktı Analizi (IOA) perspektifiyle banka kredileri ile üretim ve tüketim temelli emisyonlar arasındaki dinamik ilişkiye odaklanmaktadır. Bu inceleme, üretim temelli emisyonların yanı sıra kredi kaynaklı faaliyetlerden kaynaklanan talep yönlü dolaylı emisyonların değerlendirilmesini içermektedir. Bulgular, özel sektöre tahsis edilen iç krediler ile CO2 emisyonları arasında fark edilebilir bir korelasyonu doğrulamaktadır. Özellikle, araştırma emisyonların tüketim ve üretim perspektiflerinden değerlendirildiğinde farklılık derecelerini ortaya koymaktadır.
Citation Count: 0
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.
Citation Count: 0
Turkey: Challenges and Strategies Toward De-Carbonization and Sustainable Development Under the Age of Finance
(Routledge, 2023) Yeldan, A.E.
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. © 2023 Taylor & Francis Group, LLC.
Citation Count: 16
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.
Citation Count: 0
Salgının Ekonomik Yaşama Etkileri
(2021) Yeldan, Erinç
[Abstract Not Available]