Three essays on technology, trade, and business cycle: A dynamic econometric approach

The purpose of this thesis is to shed light on the implementation of forward-looking and counter-cyclical macroeconomic policies through an examination of technology and international trade processes using macroeconomic models. The thesis contains three independent chapters on PMG-ARDL and GMM econometric modeling of technology and international trade and estimating and evaluating a small open economy and middle open economy DSGE modeling as well as an introduction. In the second part of this study, we examined in detail the transfer of technology in terms of both developed and developing countries. In the third part of the study, we extensively investigated the dynamic and stochastic general equilibrium models, which have recently been used by many central banks in terms of analysis and planning of monetary and interest rate policies. In the final section, we extended the model for the same period to a middle open economy. Our research indicates that all countries benefit from technology transfer and that there is a long-term relationship between technology transfer and economic growth per capita. On the other hand, the simulation results for both small and medium open economy dynamic stochastic general equilibrium models are quite consistent with the Turkey macroeconomic variable data set. However, due to the high volatility of the macroeconomic variables used in the study, the model's simulated variables have large standard deviations. Both small and medium open economy general equilibrium models, while there are some parts to be improved, are excellent tools for analyzing optimal monetary policy for the Turkish economy.