{"id":4483,"date":"2023-05-01T15:34:56","date_gmt":"2023-05-01T12:34:56","guid":{"rendered":"https:\/\/datakapital.com\/blog\/?p=4483"},"modified":"2025-07-20T17:30:01","modified_gmt":"2025-07-20T14:30:01","slug":"hizlandiran-modeli-nedir","status":"publish","type":"post","link":"https:\/\/datakapital.com\/blog\/hizlandiran-modeli-nedir\/","title":{"rendered":"H\u0131zland\u0131ran Modeli Nedir?"},"content":{"rendered":"

H\u0131zland\u0131ran modeli : Sabit yat\u0131r\u0131m kararlar\u0131n\u0131 incelemek isteyen firmalar\u0131n yararlanabilece\u011fi yakla\u015f\u0131mlardan biri h\u0131zland\u0131ran modelidir.\u00a0 Bu model yat\u0131r\u0131m\u0131 faiz haddi<\/a> ile de\u011fil de has\u0131la \u2013 sat\u0131\u015flar ile ili\u015fkilendiren bir modeldir. H\u0131zland\u0131ran modelin hareket noktas\u0131, firmalar\u0131n sabit bir sermaye \u2013 has\u0131la oran\u0131 ( v ) \u00fczerinden yapt\u0131klar\u0131 ( sermaye \u2013 has\u0131la oran\u0131n\u0131n teknolojik olarak belirlendi\u011fi ) yolundaki varsay\u0131md\u0131r;<\/p>\n

\"H\u0131zland\u0131ran<\/p>\n

Y ve K(*)\u00a0 terimleri s\u0131rayla has\u0131lay\u0131 ve arzulanan sermayeyi temsil eder. Bu denkleme g\u00f6re, firmalar t y\u0131l\u0131nda Y(t)\u00a0 kadar has\u0131la \u00fcretmek i\u00e7in vY(t)\u00a0 kadar bir sermayeye sahip olmak isterler;<\/p>\n

 <\/p>\n

\"SermayeBenzer bir bi\u00e7imde firmalar\u0131n t-1 y\u0131l\u0131nda \u00a0kadar Y(t-1) has\u0131la \u00fcretmi\u015f olmalar\u0131, t-1 d\u00f6neminde vY(t-1) kadar sermayeye sahip olmak istedikleri, sahip olduklar\u0131 anlam\u0131na gelir;<\/p>\n

\"Sermaye<\/p>\n

Di\u011fer taraftan net yat\u0131r\u0131m I(t), sermaye stokunda d\u00f6nemler aras\u0131nda ( zaman i\u00e7inde ) meydana gelen art\u0131\u015f demektir. Dolay\u0131s\u0131yla da net yat\u0131r\u0131m yukar\u0131daki a\u00e7\u0131klamalar \u0131\u015f\u0131\u011f\u0131nda a\u015fa\u011f\u0131daki gibi yaz\u0131labilir;<\/p>\n

\"H\u0131zland\u0131ran<\/p>\n

H\u0131zland\u0131ran modelini yans\u0131tan bu denkleme g\u00f6re yat\u0131r\u0131m, has\u0131la d\u00fczeyindeki<\/a> de\u011fi\u015fmeye ba\u011fl\u0131 olarak ( has\u0131la d\u00fczeyine ba\u011fl\u0131 olarak de\u011fil ) de\u011fi\u015fir. Has\u0131lan\u0131n artmas\u0131 net yat\u0131r\u0131m\u0131n pozitif olmas\u0131na yol a\u00e7arken, has\u0131lan\u0131n d\u00fc\u015fmesi ve de\u011fi\u015fmemesi s\u0131ras\u0131yla net yat\u0131r\u0131m\u0131n negatif ve s\u0131f\u0131r olmas\u0131na yol a\u00e7ar. \u00d6rne\u011fin t = 0 d\u00f6neminde sermaye stokunun ve has\u0131lan\u0131n s\u0131ras\u0131yla 1200 TL ve 600 TL ve dolay\u0131s\u0131yla sermaye \u2013 has\u0131la oran\u0131n\u0131n 2 oldu\u011fu bir ekonomide, has\u0131la izleyen t = 1 ve t = 2 d\u00f6nemlerinde s\u0131ras\u0131yla 610 TL ve 605 TL olursa, net yat\u0131r\u0131m t = 1 d\u00f6neminde 2 x 10 = 20 TL artar, t = 2 d\u00f6neminde ise 2 x -5TL = -10 azal\u0131r ( t = 2 d\u00f6neminde a\u015f\u0131nan sermayenin 10 TL kadar\u0131 yenilenmez ve dolay\u0131s\u0131yla da br\u00fct yat\u0131r\u0131m sermayenin a\u015f\u0131nan k\u0131sm\u0131ndan k\u00fc\u00e7\u00fck olur).<\/p>\n

H\u0131zland\u0131ran modelini bekleyi\u015fleri kapsayacak bi\u00e7imde ifade etmek m\u00fcmk\u00fcnd\u00fcr. Bekleyi\u015flerin yat\u0131r\u0131m \u00fczerindeki etkisini vurgulamay\u0131 ama\u00e7layan bu alternatif yakla\u015f\u0131mda, t y\u0131l\u0131nda has\u0131lan\u0131n Y(t,e) olaca\u011f\u0131n\u0131 bekleyen firmalar\u0131n, bu has\u0131lay\u0131 \u00fcretmek i\u00e7in vY(t,e) kadar bir sermayeye sahip olmak istedikleri kabul edilir ve dolay\u0131s\u0131yla da h\u0131zland\u0131ran modeli a\u015fa\u011f\u0131daki gibi form\u00fcle edilir;<\/p>\n

\"H\u0131zland\u0131ran<\/p>\n

H\u0131zland\u0131ran modelini bekleyi\u015fler itibariyle ifade eden yukar\u0131daki denkleme g\u00f6re, yat\u0131r\u0131m beklenen has\u0131la d\u00fczeyindeki de\u011fi\u015fmeye ba\u011fl\u0131 olarak de\u011fi\u015fir. Beklenen has\u0131lan\u0131n artmas\u0131 net yat\u0131r\u0131m\u0131n pozitif olmas\u0131na yol a\u00e7arken, beklenen has\u0131lan\u0131n d\u00fc\u015fmesi ve de\u011fi\u015fmemesi s\u0131ras\u0131yla net yat\u0131r\u0131m\u0131n negatif ve s\u0131f\u0131r olmas\u0131na yol a\u00e7ar.<\/p>\n

H\u0131zland\u0131ran modeli yat\u0131r\u0131m\u0131 sadece has\u0131la d\u00fczeyi ile ili\u015fkilendirmek suretiyle, has\u0131la d\u00fczeyini olumlu bi\u00e7imde etkileyen bir politika olan geni\u015fletici maliye politikas\u0131n\u0131n, yat\u0131r\u0131m\u0131 engellemek yerine artt\u0131raca\u011f\u0131 gibi ilgin\u00e7 bir sonu\u00e7 verir.<\/p>\n

H\u0131zland\u0131ran modeli ister ger\u00e7ekle\u015fen has\u0131la ister beklenen has\u0131la \u00fczerinden form\u00fcle edilsin, baz\u0131 \u00f6nemli ele\u015ftirilere maruz kalm\u0131\u015ft\u0131r. Bunlardan birincisi, bug\u00fcnk\u00fc de\u011fer yakla\u015f\u0131m\u0131 \u00fczerine in\u015fa edilen MEC \u2013 MEI analizine g\u00f6re yat\u0131r\u0131m\u0131 etkileyen \u00f6nemli bir unsur olan faiz haddinin, h\u0131zland\u0131ran modelinde t\u00fcm\u00fcyle ihmal edilmi\u015f olmas\u0131 ve dolay\u0131s\u0131yla da modelde ula\u015f\u0131lan sonucun teorik a\u00e7\u0131dan yetersiz olmas\u0131d\u0131r. H\u0131zland\u0131ran modeline y\u00f6neltilen ikinci ele\u015ftiri, modelin sermaye \u2013 has\u0131la oran\u0131n\u0131n sabit oldu\u011fu yolundaki varsay\u0131m\u0131n\u0131n \u00f6zellikle k\u0131sa d\u00f6nemde ge\u00e7ersiz oldu\u011fu hususudur.<\/p>\n","protected":false},"excerpt":{"rendered":"

H\u0131zland\u0131ran modeli : Sabit yat\u0131r\u0131m kararlar\u0131n\u0131 incelemek isteyen firmalar\u0131n yararlanabilece\u011fi yakla\u015f\u0131mlardan biri h\u0131zland\u0131ran modelidir.\u00a0 Bu model yat\u0131r\u0131m\u0131 faiz haddi ile de\u011fil de has\u0131la \u2013 sat\u0131\u015flar ile ili\u015fkilendiren bir modeldir. H\u0131zland\u0131ran modelin hareket noktas\u0131, firmalar\u0131n sabit bir sermaye \u2013 has\u0131la oran\u0131 ( v ) \u00fczerinden yapt\u0131klar\u0131 ( sermaye \u2013 has\u0131la oran\u0131n\u0131n teknolojik olarak belirlendi\u011fi ) yolundaki<\/p>\n","protected":false},"author":2,"featured_media":4490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,47],"tags":[287,339,315,340],"class_list":{"0":"post-4483","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jeoekonomik-makro-veriler","8":"category-makro-ekonomik-analizler","9":"tag-iktisat-sozlugu","10":"tag-sermaye","11":"tag-yatirim","12":"tag-yatirim-hesaplamalari"},"better_featured_image":{"id":4490,"alt_text":"H\u0131zland\u0131ran model yat\u0131r\u0131m hesaplama","caption":"","description":"","media_type":"image","media_details":{"width":576,"height":278,"file":"2023\/05\/Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir.png","filesize":104629,"sizes":{"medium":{"file":"Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-300x145.png","width":300,"height":145,"mime-type":"image\/png","filesize":39248,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/05\/Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-300x145.png"},"thumbnail":{"file":"Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-150x150.png","width":150,"height":150,"mime-type":"image\/png","filesize":27162,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/05\/Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-150x150.png"},"bunyad-small":{"file":"Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-150x72.png","width":150,"height":72,"mime-type":"image\/png","filesize":12285,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/05\/Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-150x72.png"},"bunyad-medium":{"file":"Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-450x217.png","width":450,"height":217,"mime-type":"image\/png","filesize":79189,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/05\/Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir-450x217.png"}},"image_meta":{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0","keywords":[]}},"post":4483,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/05\/Hizlandiran-Model-Nedir-ve-Nasil-Hesaplanir.png"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/comments?post=4483"}],"version-history":[{"count":3,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4483\/revisions"}],"predecessor-version":[{"id":5184,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4483\/revisions\/5184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/media\/4490"}],"wp:attachment":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/media?parent=4483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/categories?post=4483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/tags?post=4483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}