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    The Impact of Tourism Activities on Carbon Emissions: Evidence Using a Time-Varying Parameter Vector Autoregression Model
    (Istanbul Univ, 2025) Catik, A. Nazif; Balli, Esra; Akdeniz, Coskun; Cobanoglu, Cihan; Helmi, Mohamad Husam
    This article examines the impact of tourism activities, economic growth, and energy demand on environmental degradation in Turkey using Primiceri's (2005) time-varying parameter structural vector autoregression model for the period 1991:Q1 to 2020:Q1. The findings from the linear VAR model indicate that the response of carbon emissions to shocks in tourism activity is negative and significant. However, the time-varying responses show that the impact of tourism activities on environmental degradation varies over time but is not significant for most analysis period. The insignificant impact of tourism on carbon emissions implies that the tourism sector can be supported by policymakers without harming the environment. Furthermore, our findings on the positive and significant time- varying impact of tourism activities on economic growth support the validity of the tourism-led growth hypothesis.
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    Time-varying Income and Price Elasticities of Oil Demand in OECD Countries
    (Econjournals, 2024) Helmi, Mohamad Husam; Çatık, Abdurrahman Nazif; Bucak, Çağla; Balli, Esra; Akdeniz, Coşkun
    This study examines the long-run income and price elasticities of oil demand in 21 OECD countries using quarterly data from 1980:Q1 to 2021:Q3. We find that oil demand is inelastic with respect to both income and prices at 0.117 and −0.179, respectively. The cointegration tests reveal instability in oil price elasticities over time. The time-varying panel data estimates support these findings, showing significant variations in elasticities influenced by oil market dynamics and global events. Income elasticities reached their highest levels during the COVID-19 pandemic, while price elasticities ranged from −0.396 to 0.275. Significantly, the sign of oil price elasticities shifted from negative to positive after 2015, contrary to the law of demand, probably because of declining oil prices during that period. The largest positive and statistically significant price elasticity occurred in early 2020, which can be attributed to the COVID-19-induced decline in oil prices. Overall, this analysis contributes to understanding oil demand dynamics and highlights the impact of economic and oil market factors on elasticities. © 2024, Econjournals. All rights reserved.