Recent Submissions

  • Banques de Turquie : Entre dynamisme et tensions 

    Yücel, Eray (2019)
    This paper provides an up-to-date overview of the Turkish banking sector emphasizing its potential to generate value and to support sustainable growth. Since the main channel of financing businesses is bank loans in Turkey, ...
  • Costly preparations in bargaining 

    Karagözoğlu, Emin; Rachmilevitch, S. (Blackwell Publishing, 2020)
    We model costly preparations in negotiations and study their effect on agreements in a bilateral bargaining game. In our model, players bargain over a unit pie, where each player needs to pay a fixed cost in the beginning ...
  • Fitting vast dimensional time-varying covariance models 

    Pakel, Cavit; Shephard, N; Sheppard, K.; Engle, R. F. (Taylor and Francis, 2021)
    Estimation of time-varying covariances is a key input in risk management and asset allocation. ARCH-type multivariate models are used widely for this purpose. Estimation of such models is computationally costly and ...
  • Race meets bargaining in product development 

    Karagözoğlu, Emin; Keskin, K.; Sağlam, Çağrı (Wiley, 2020)
    We study product development in a firm, utilizing a multistage contest model (i.e., race) with an endogenous length (with one stage or two stages) between two workers. We model the payments to workers using the normatively ...
  • Duration of global financial cycles 

    Akdi, Y.; Varlık, S.; Berument, M. Hakan (Elsevier, 2020)
    The duration of Global Financial Cycles (GFCs) have a role in the global financial environment which is shaped by the fluctuations in short-term capital flows, changes in monetary conditions in the center economies and ...
  • Trade finance matters: evidence from the COVID-19 crisis 

    Demir, Banu; Javorcik, B. (Oxford University Press, 2020)
    This study documents a substantial decline in the exports of major trading nations taking place in March 2020. Accounting for product-specific seasonality and annual trends, the data suggest a drop by 38 per cent in France, ...
  • New perspectives on Turkey roundtable on the COVID-19 pandemic : prospects for the international political economic order in the post-pandemic world 

    Buğra, A.; Gürkaynak, Refet; Keyder, Ç.; Palat, R. A.; Pamuk, Ş. (Cambridge University Press, 2020)
    The pandemic triggered by the novel coronavirus has not only created a global public health emergency, it has also had widespread and deep consequences in social relations throughout the world. The COVID-19 pandemic forces ...
  • Understanding gender differences in leadership 

    Alan, Şule; Ertaç, S.; Kubilay, E.; Loranth, G. (Oxford University Press, 2020-02)
    Using data from a large-scale field experiment, we show that while there is no gender difference in willingness to make risky decisions on behalf of a group in a sample of children, a large gap emerges in a sample of ...
  • Trade policy changes, tax evasion and Benford's law 

    Demir, Banu; Javorcik, B. (Elsevier, 2020)
    This paper draws attention to import duty evasion as a margin through which firms adjust to changes in trade policy. This margin is different from the other forms of adjustment, as it can be employed very fast and thus it ...
  • New trade models, different distributions, same old results? 

    Pehlivan, Özgür Ayşe (Elsevier, 2020-02-01)
    In this paper we estimate Ricardian trade model of Eaton and Kortum (2002) using a different extreme value distribution, Weibull, for the productivity distributions of countries rather than the standard Fréchet assumption. ...
  • Social status pursuit, distribution of bequests and inequality 

    Camacho, C.; Harmankaya, Fatih; Sağlam, Çağrı (Elsevier, 2020)
    The quest for social status modifies lifetime decisions and as a consequence, the trajectory of the overall economy. Focusing on the relative wealth dimension of social status, we build a two-period overlapping generations ...
  • Oil price shocks and the composition of current account balance 

    Varlık, S.; Berument, M. Hakan (Elsevier, 2020-02)
    It is a well-established regularity that permanent oil price shocks do not have a permanent effect on the current account deficit. This requires that sub-components of the current account or trade balance will make the ...
  • Contests over joint production on networks 

    Doğan, Serhat; Keskin, K.; Sağlam, Çağrı (Wiley, 2020)
    We consider a network of heterogeneous agents where each edge represents a two‐player contest between the respective nodes. In these bilateral contests, agents compete over an endogenous prize jointly produced using their ...
  • Estimation and forecasting of PM10 air pollution in Ankara via time series and harmonic regressions 

    Akdi, Y.; Okkaoğlu, Y.; Gölveren, E.; Yücel, M. Eray (Springer, 2020)
    In this study, monthly particulate matter (PM10) values in Ankara (39.9334° N, 32.8597° E) from January 1993 to December 2017 are examined. The PM10 are those thoracic particles whose aerodynamic diameter is less than 10 ...
  • The day of the week effect and interest rates 

    Gayaker, S.; Yalçın, Y.; Berument, M. Hakan (Elsevier, 2020)
    The day of the week effect is one of the regularities observed in financial markets which suggests that Friday returns are higher than Monday returns. One of the possible reasons for this regularity is that the date of ...
  • Stochastic control approach to reputation games 

    Nuh Aygün, Dalkıran; Yüksel, S. (IEEE, 2020)
    Through a stochastic-control-theoretic approach, we analyze reputation games, where a strategic long-lived player acts in a sequential repeated game against a collection of short-lived players. The key assumption in our ...
  • Bargaining, reference points, and limited influence 

    Kara, Tarık; Karagözoğlu, Emin; Özcan-Tok, E. (Birkhauser, 2020-07)
    We study the emergence of reference points in a bilateral, infinite horizon, alternating offers bargaining game. Players’ preferences exhibit reference dependence, and their current offers have the potential to influence ...
  • Time-varying cointegration and the Kalman filter 

    Eroğlu, B. A.; Miller, J. I.; Yiğit, Taner (Bellwether Publishing, Ltd., 2020)
    We show that time-varying parameter state-space models estimated using the Kalman filter are particularly vulnerable to the problem of spurious regression, because the integrated error is transferred to the estimated state ...
  • Missing events in event studies: Identifying the effects of partially measured news surprises 

    Gürkaynak, Refet S.; Kısacıkoğlu, Burçin; Wright, J. H. (American Economic Association, 2020)
    Macroeconomic news announcements are elaborate and multi-dimensional. We consider a framework in which jumps in asset prices around macroeconomic news and monetary policy announcements reflect both the response to observed ...
  • Real term structure and New Keynesian models 

    Kısacıkoğlu, Burçin (European Central Bank, 2020)
    Recently some authors have argued that a New Keynesian model with simple modifications can match the nominal term structure of interest rates. In this paper, I investigate how well these models do in matching the term ...

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