Articles in Peer-Reviewed Journals
An Analysis of Regime Shifts in the Turkish Economy (with KORAY AKAY), Economic Modelling (2008)
We use a time-varying dynamic factor model with regime switching to construct and estimate the...
Structural Breaks in Monetary Policy Rules: Evidence from Transition Countries, Emerging Markets Finance and Trade (2008)
This paper investigates the relation between the important announced turning points in the monetary policies...
Twin Crises in Turkey: A Comparison of Currency Crisis Models, The European Journal of Comparative Economics (2008)
This paper analyzes the twin crises in Turkey experienced in 2000 and 2001. After a...
Inflation Targeting Supported by Managed Exchange Rate, Applied Economics (2007)
We compare, on a welfare loss basis, possible inflation targeting regimes supported by different exchange...
The Effects of Credit and Debit Cards on the Currency Demand (with EGE YAZGAN), Applied Economics (2007)
We analyze the effects of credit and debit cards on the currency in circulation by...
The Effects of Currency Crises in Emerging Markets on the Industrial Sector: An Alternative Regime-Shifting Approach, Emerging Markets Finance and Trade (2007)
We analyze the effects of the currency crises on the industrial sectors of Korea, Turkey...
The Effects of Currency Crises on the Long-Run Growth , Applied Economics Letters (2007)
We attempt to analyze the effects of the currency crises on the long-run growth by...
Money Shocks and Output: A Contemporary Money Demand Approach, The Empirical Economics Letters (2007)
We analyze the short-run effects of money shocks on output in the contemporary world. As...
Inflation Dynamics of Turkey: A Structural Estimation (with M. Ege Yazgan), Studies in Nonlinear Dynamics & Econometrics (2006)
Recent empirical research on the New Keynesian Phillips Curve (NKPC) does not offer any supporting...
Monetary policy rules in practice: evidence from Turkey and Israel (with MUSTAFA EGE YAZGAN), Applied Financial Economics (2006)
Forward looking monetary policy rules are estimated for Israel and Turkey. When variable inflation targets...
Contributions to Books
Why are Trade Agreements Mostly Regional? A Welfare Analysis by Transportation Costs (with DEMET ULKER), Welfare Economics (2008)
Why are trade agreements mostly regional? By making a welfare analysis, we show that the...
Working Papers
Distribution of Consumption, Production and Trade within the U.S. (2008)
The current literature in economics is mainly focusing on the international trade and specialization, but...
What is the Optimal Rate of Inflation for Long-Run Growth? A Cross-Country Analysis (2008)
Although the relationship between financial development and growth is almost obvious, the effect of inflation...
How Important is Technology? A Counterfactual Analysis (2008)
The multiplier effect of total factor productivity on aggregate output in the one-sector neoclassical growth...
Inflation, Finance and Growth: A Trilateral Analysis (with Peter L. Rousseau) (2008)
A large body of evidence links financial development to economic growth, yet the channels through...
Inflation Targeting and Convergence within Turkey (2008)
There is a large body of evidence of the convergence of inflation rates among the...
Is the Armington Elasticity Really Constant Across Importers? (2008)
This paper shows that the Armington elasticity, which refers to both the elasticity of substitution...
Is there a Role for Trade Costs in Explaining the Central Bank Behavior? (2008)
This paper develops an open economy DSGE model to analyze the effects of trade costs...
Okun’s Convergence within the U.S. (2008)
This paper analyzes the Okun’s law for the states of the U.S. over the period...
The IS Puzzle and Relative Risk Aversion in Turkey (2008)
This paper estimates the IS curve of the Turkish economy for the monthly period over...
Understanding Interstate Trade Patterns (2008)
This paper models interstate trade patterns of U.S. states using a partial equilibrium trade model....
Productivity Cycles in Public and Private Manufacturing Sectors: Evidence from Turkey (2007)
We compare the productivity cycles of public and private manufacturing sectors in Turkey by using...