CONSTRUCTION OF SEGMENT-BASED PRICE INDEXES IN TURKISH AUTOMOBILE MARKET AND ESTIMATION OF VARYING SEGMENT-BASED PRICE ELASTICITIES
Öz
The Country of Origin effect being no longer as important in Turkey in the domestic automobile sector, this paper adopts a different disaggregation approach to estimating automobile demand in Turkey: segmentation based on types of automobiles. First of all, we can assert that during January 2006September 2010, Hatch-Backs’ price increases were higher compared to those of Compact-Sedans and Medium-Sedans pointing out to the changing pattern/nature of Turkish auto consumers’ demand/preferences for autos using the Fisher index. Secondly, we investigated the extent of the temporary tax concession (decrease) given by the Turkish government to the producers/importers that was not passed completely onto the consumers during the global crisis in 2009. We concluded that at that time the demand elasticity was less than that of the supply. Finally, using the segmental price indexes that we have constructed, we were able to run a regression on combined set of equations model (LSDVM)
Anahtar Kelimeler
Automobile Market Segment-Based Price İndexes Taxes Estimation of Disaggregated Auto Demand Disaggregated Price Elasticities
Kaynakça
- ALLEN, R. D., 1963. ‘Price Index Numbers’, Rev. Int. Statist. Inst., 31, 281-306.
- ALPER, C. E., and MUMCU, A., 2007. ‘Interaction between Price, Quality and Country of Origin when Estimating Automobile Demand: the Case of Turkey’, Applied Economics, 39, 1789-96.
- ASLAN, I. Y., and et. all 2009. ‘Itinerary on Automobile Trade in the next 10 years’, Istanbul, Association of Automotive Distributors in Turkey, ch.11.
- CARLSON, R. L., 1978. Seemingly Unrelated Regression and the Demand for Automobiles of Different Sizes, 1965-75: a disaggregated approach”, Journal of Business, 51, (2), 243-62.
- CRAIG, J., 1969. ‘On the Elementary Treatment of Index Numbers’, Journal of the Royal Statistical Society, Series C, Vol. 18, No.2, 141-152.
- DIEWERT, W. E., 1993. The Early History of Price Index Research, in Essays in Index Number Theory, Vol. 1, W.E. Diewert and A. Nakamura (eds.) North Holland, Amsterdam.
- FRISH, R., 1930. ‘Necessary and and Sufficient Conditions Regarding the Form of an Index Number which shall meet Certain of Fisher’s Tests’. American Statistical Association Journal, 25, 397-406.
- FRISH, R., 1936. ‘Annual Survey of General Economic Theory: The Problem of Index Numbers’. Econometrica, 4, No.2, 1-38.
- JEVONS, W. S., 1865. ‘Variations of Prices and the Value of Currency since 1762’, Journal of Royal Statistical Society, 28 (June), 294-325.
- KEYNES, J. M., 1930. Treatise on Money, Vol.1, London: Macmillan.
- LEVINSOHN, J., 1988. Empirics of Taxes on Differentiated Products: The case of Tariffs in the U.S. automobile industry”, Trade Policy Issues and Empirical Analysis, Ed: R. E. Baldwin, Chicago: University of Chicago Press, 11-40.
- MARSHALL, A., 1887. ‘Remedies for Fluctuations of General Prices’, Contemporary Review. 51, 355-375. Reprinted as Ch. 8 in Memorials of Alfred Marshall, A. C. Pigou (ed.) London: Macmillan, 1925.
- MCCARTHY, P. S., 1996. ‘Market Price and Income Elasticities of New Vehicle Demands’, The Review of Economics and Statistics, 78 (3, Aug), 543-547.
- ÖZÇAM, A. and ÖZÇAM, D. S., 2012-b. "Construction of Price Indexes for different Segments of Automobiles in Turkish Market and Estimation of Varying Price Elasticities", 7th Annual International Symposium on Economic Theory, Policy and Applications, ATINER, 23-26 July 2012, Athens, Greece.
- ÖZÇAM, A., 2014. ‘’Should Before or After Tax Equilibria Point Elasticities be Calculated When the Laffer Effect is Considered in a Micro Market?’’, Journal of Economic Studies, Issue 4, Accepted.
- ÖZÇAM, A., and ÖZÇAM D. S., 2012-a. ‘A Review of Econometric Estimation of Consumer Demand for Automobiles and the Country of Origin (COO) Effects’, The Journal of Dokuz Eylul University, 27 (1), 97-132.
- VERBOVEN, F., 1996. ‘International Price Discrimination in the European Car Market’, Rand Journal of Economics, 2, 240-68.
CONSTRUCTION OF SEGMENT-BASED PRICE INDEXES IN TURKISH AUTOMOBILE MARKET AND ESTIMATION OF VARYING SEGMENT-BASED PRICE ELASTICITIES
Öz
Ülke menşei etkisi Türkiye’de iç piyasada artık eskisi kadar önemli olmadığı için bu makalede Türkiye’de ki otomobil talebine farklı bir ayrıştırma yöntemi uygulanmıştır: otomobil tipleri.Bu makalede farklı segmentlerde ki otomobil fiyatlarıyla ilgili çok detaylı veri topladık. Öncelikle, 2006 Ocak- 2010 döneminde Hatch-Back (C2, B2) tipi otomobillerde fiyat artışı Compact-Sedan
ve Medium-Sedan’lardan fazla olmuştur ve bu netice Türkiye’de değişen tüketici tercihlerini göstermektedir. İlaveten, 2009 küresel kriz döneminde Türkiye devletinin otomobil satıcılarına sağlamış olduğu geçici vergi indirimlerinin tamamıyla tüketiciye yansıtılmamış olması durumunu kendi segment tanımımız doğrultusunda farklılıklarını inceledik. Neticede, o dönemde piyasa fiyat esnekliğinin piyasa arz esnekliliğinden daha az olduğuna karar verdik. En son olarak, segment bazlı fiyat endekslerimizi kullanarak bütün segmentlerin denklemlerini birleştirerek LSDVM adı verilen bir regresyon analizi yaptık.
Anahtar Kelimeler
Otomobil Piyasası Segment Bazında Fiyat Endeksleri Vergi Ayrıştırılmış Otomobil Talep Tahmini Ayrıştırılmış Fiyat Esnekleri
Kaynakça
- ALLEN, R. D., 1963. ‘Price Index Numbers’, Rev. Int. Statist. Inst., 31, 281-306.
- ALPER, C. E., and MUMCU, A., 2007. ‘Interaction between Price, Quality and Country of Origin when Estimating Automobile Demand: the Case of Turkey’, Applied Economics, 39, 1789-96.
- ASLAN, I. Y., and et. all 2009. ‘Itinerary on Automobile Trade in the next 10 years’, Istanbul, Association of Automotive Distributors in Turkey, ch.11.
- CARLSON, R. L., 1978. Seemingly Unrelated Regression and the Demand for Automobiles of Different Sizes, 1965-75: a disaggregated approach”, Journal of Business, 51, (2), 243-62.
- CRAIG, J., 1969. ‘On the Elementary Treatment of Index Numbers’, Journal of the Royal Statistical Society, Series C, Vol. 18, No.2, 141-152.
- DIEWERT, W. E., 1993. The Early History of Price Index Research, in Essays in Index Number Theory, Vol. 1, W.E. Diewert and A. Nakamura (eds.) North Holland, Amsterdam.
- FRISH, R., 1930. ‘Necessary and and Sufficient Conditions Regarding the Form of an Index Number which shall meet Certain of Fisher’s Tests’. American Statistical Association Journal, 25, 397-406.
- FRISH, R., 1936. ‘Annual Survey of General Economic Theory: The Problem of Index Numbers’. Econometrica, 4, No.2, 1-38.
- JEVONS, W. S., 1865. ‘Variations of Prices and the Value of Currency since 1762’, Journal of Royal Statistical Society, 28 (June), 294-325.
- KEYNES, J. M., 1930. Treatise on Money, Vol.1, London: Macmillan.
- LEVINSOHN, J., 1988. Empirics of Taxes on Differentiated Products: The case of Tariffs in the U.S. automobile industry”, Trade Policy Issues and Empirical Analysis, Ed: R. E. Baldwin, Chicago: University of Chicago Press, 11-40.
- MARSHALL, A., 1887. ‘Remedies for Fluctuations of General Prices’, Contemporary Review. 51, 355-375. Reprinted as Ch. 8 in Memorials of Alfred Marshall, A. C. Pigou (ed.) London: Macmillan, 1925.
- MCCARTHY, P. S., 1996. ‘Market Price and Income Elasticities of New Vehicle Demands’, The Review of Economics and Statistics, 78 (3, Aug), 543-547.
- ÖZÇAM, A. and ÖZÇAM, D. S., 2012-b. "Construction of Price Indexes for different Segments of Automobiles in Turkish Market and Estimation of Varying Price Elasticities", 7th Annual International Symposium on Economic Theory, Policy and Applications, ATINER, 23-26 July 2012, Athens, Greece.
- ÖZÇAM, A., 2014. ‘’Should Before or After Tax Equilibria Point Elasticities be Calculated When the Laffer Effect is Considered in a Micro Market?’’, Journal of Economic Studies, Issue 4, Accepted.
- ÖZÇAM, A., and ÖZÇAM D. S., 2012-a. ‘A Review of Econometric Estimation of Consumer Demand for Automobiles and the Country of Origin (COO) Effects’, The Journal of Dokuz Eylul University, 27 (1), 97-132.
- VERBOVEN, F., 1996. ‘International Price Discrimination in the European Car Market’, Rand Journal of Economics, 2, 240-68.
Ayrıntılar
| Birincil Dil | İngilizce |
|---|---|
| Bölüm | Makaleler |
| Yazarlar | |
| Yayımlanma Tarihi | 9 Mart 2015 |
| Yayımlandığı Sayı | Yıl 2014Cilt: 4 Sayı: 1 |