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    Öğe
    A BRIEF ANALYSIS OF THE TAX SMOOTHING HYPOTHESIS IN TURKEY
    (Babes-Bolyai Univ, 2014) Karakas, Mesut; Turan, Taner; Yanikkaya, Halit
    This study examines the existence of tax smoothing in the case of Turkey using data for the time period between 1923 and 2011. Unit root tests, auto-regression and vector auto-regression (VAR) models are applied to tax rates, government expenditures and real output data. Unit root tests and auto-regression results initially point out the existence of tax smoothing in Turkey. However, further in-depth analyses by means of the vector auto-regression in model provide strong evidence against the tax smoothing hypothesis for the Turkish case as contemporary tax rates can be predicted with using lagged values of tax rates and government spending rates.
  • [ X ]
    Öğe
    A Brief Analysis of the Tax Smoothing Hypothesis in Turkey
    (Universitatea Babes-Bolyai, 2014) Karakas, Mesut; Turan, Taner; Yanikkaya, Halit
    This study examines the existence of tax smoothing in the case of Turkey using data for the time period between 1923 and 2011. Unit root tests, auto-regression and vector auto-regression (VAR) models are applied to tax rates, government expenditures and real output data. Unit root tests and auto-regression results initially point out the existence of tax smoothing in Turkey. However, further in-depth analyses by means of the vector auto-regression model provide strong evidence against the tax smoothing hypothesis for the Turkish case as contemporary tax rates can be predicted with using lagged values of tax rates and government spending rates.
  • [ X ]
    Öğe
    Tax Smoothing Hypothesis: A Turkish Case
    (Savez Ekonomista Vojvodine, 2014) Turan, Taner; Karakas, Mesut; Yanikkaya, Halit
    We tested the tax smoothing hypothesis for Turkey using annual data for the period of 1949-2010. Although our preliminary estimation results imply the existence of the weak form of tax smoothing for Turkey, further tests indicate the violation of exogeneity of permanent government spending, which is a requirement for the tax smoothing hypothesis to hold. Our causality tests indicate that permanent government spending is not exogenous due to the causality running from lagged tax rates to permanent government spending. Therefore, we conclude that our results provide evidence against the tax smoothing hypothesis. Our results are important because the existence of random-walk behavior of the tax rates alone or some preliminary regressions do not guarantee the existence of tax smoothing.