Current working papers:
• “International Portfolio Rebalancing and Fiscal Policy Spillovers” (with Sami Alpanda and Serdar Kabaca), revision resubmitted.
• “Identifying the External and Internal Drivers of Exchange Rate Volatility in Small Open Economies: Evidence from Jamaica,” revision resubmitted.
• “Capital outflow management and cross-listing in developing countries” (with Oronde Small and Karlia Clarke), revision requested.
• “Technology diffusion and international business cycles,” under review
• “The cyclicality of income distribution and innovation induced growth”” (with Sami Alpanda), under review.
Link to working papers
Publications, accepted and forthcoming papers:
• “R&D, Market Power and the Cyclicality of Employment”, (with Melanie Guldi, Adam Honig and Zeynep Yom) accepted, Journal of Money, Credit and Banking.
• “Regulatory Arbitrage and Economic Stability”, 2022, Journal of International Money and Finance, vol. 129 (with Sami Alpanda).
• “A structural approach to measuring the degree of economic integration: Evidence from G-7 countries,” 2022, Journal of International Money and Finance, vol. 124.
• “Regulatory arbitrage and global push factors”, 2022, Economic Modelling, (with Stefan Avdjiev and Michael Tseng) https://doi.org/10.1016/j.econmod.2022.105857 .
• “Centralized versus Decentralized Banking: Bank-level evidence from U.S. Call Reports”, 2022, Empirical Economics, 62, 1687-1714 (with Zeynep Yom).
• “R&D characteristics, innovation spillover and technology-driven business cycles,” 2021, Journal of Industry, Competition and Trade, 21, 339–365.
• “Volatility costs of R&D”, European Economic Review, 2020, vol. 122(C).
• “Interest rates, R&D investment and the distortionary effects of R&D incentives”, European Economic Review, 2019, 111(C), pages 191-210. (with Zeynep Kabukcuoglu).
• “What drives local lending by global banks?” accepted, Journal of International Money and Finance, 2019, 90(C), 54-75. (with Stefan Avdjiev and Ralf Hepp).
• “The common sources of business cycles in Trans-Pacific countries and the U.S.? A comparison with NAFTA" The World Economy, April 2019, Vol. 42 Issue 4, p1077, 33 p (with Takeshi Yagihashi). Appendix A , Appendixes B and C.
• “The credit channel is alive at the zero lower bound but how does it operate? Firm-level evidence on the asymmetric effects of U.S. monetary policy,” Economic Modelling, 2018, 75, 305-319 (with Zeynep Kabukcuoglu and Kiyoung Jeon).
• “What drives local lending by global banks?” accepted, Journal of International Money and Finance (with Stefan Avdjiev and Ralf Hepp).
• “Interest rates, R&D investment and the distortionary effects of R&D incentives” accepted, European Economic Review (with Zeynep Kabukcuoglu).
• “The common sources of business cycles in Trans-Pacific countries and the U.S.? A comparison with NAFTA" accepted, The World Economy (with Takeshi Yagihashi).
• "The credit channel is alive at the zero lower bound but how does it operate? Firm-level evidence on the asymmetric effects of U.S. monetary policy,” In Press. Economic Modelling (with Zeynep Kabukcuoglu and Kiyoung Jeon)." https://doi.org/10.1016/j.econmod.2018.07.004
• “The effects of global bank competition and presence on local economies: The Goldilocks principle may not apply to global banking,” Economic Modelling, 70C, 2018, 159-173.
• “Bank size and macroeconomic shock transmission: Does the credit channel operate through large or small banks?” Journal of International Money and Finance, vol. 65, 2016, pages 117-139.
• “The determinants of global bank lending: Evidence from bilateral cross-country data,” (with Ralf Hepp), Journal of Banking and Finance, vol. 66, 2016, pages 35-52.
• “Searching for the source of macroeconomic integration across advanced economies,” Oxford Economic Papers, vol. 68(2), 2016, pages 316-339.
• “Duration of bankruptcy proceedings and monetary policy effectiveness," Journal of Macroeconomics, 44, 2015, 295–302.
• “International transmission of financial shocks in an estimated DSGE model,” (with Sami Alpanda), Journal of International Money and Finance, Volume 47, October 2014, Pages 21–55.
• “Bankruptcy resolution capacity and economic fluctuations”, Journal of Macroeconomics, vol. 40, 2014, Pages 387-399.
• “An alternative measure of structural unemployment,” (with Florence Bouvet and Richard Hofler), Economic Modelling, vol. 38, February 2014, Pages 592-603.
• “Can time varying risk premiums explain the excess returns in the interest rate parity condition?” (with Sanglim Lee), Emerging Markets Review, Volume 18, 78-100, 2014.
• “Identifying the balance sheet and lending channels of monetary transmission: A loan-level analysis" (with Ralf Hepp), Journal of Banking and Finance, Volume 37, Issue 8, August 2013, Pages 2812-2822.
• “Financial frictions and the strength of monetary transmission” (with Adam Honig and Ryan Brady), Journal of International Money and Finance, Volume 32, February 2013, Pages 1097-1119.
• “Global Banking and the Balance Sheet Channel of Monetary Transmission” (with Sami Alpanda), International Journal of Central Banking, Volume 8, Issue 3, September 2012, Pages 141-175.
• “Capital Flows, Maturity Mismatches and Profitability in Emerging Markets: Evidence from Bank Level Data,” Journal of Developing Areas, 46(1), Spring 2012, 211-239.
• “Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops,” (with Adam Honig) Journal of Development Economics, Volume 95, Issue 2, July 2011, Pages 201-211. Appendix B
• “Securitization and the Balance Sheet Channel of Monetary Transmission” (with Ralf Hepp), Journal of Banking and Finance, Elsevier, vol. 35(8), pages 2111-2122, August, 2011.
• “An Alternative Method for Measuring Financial Frictions,” The B.E. Journal of Macroeconomics, Vol. 11: Iss. 1 (Topics), Article 7, 2011.
• “Derivatives Market Activity in Emerging Markets and Foreign Exchange Exposure,” (with Melanie Guldi) Emerging Markets Finance and Trade, 47(6), November-December, 2011, 46-67.
• “Exchange Rate Exposure: A Nonparametric Approach,” (with Melanie Guldi), Emerging Markets Review, Volume 12, Issue 4, December 2011, Pages 321-337.
• “Testing for Balance Sheet Effects in Emerging Market Countries: A non-crisis setting” International Finance, Volume 13, Issue 2, Summer 2010, Pages: 223–256.
• "Automatic Stabilizer Feature of Fixed Exchange Rate Regimes," Emerging Markets Review, Vol. 9, Issue 4, December 2008, pp. 302-328
• “International Portfolio Rebalancing and Fiscal Policy Spillovers” (with Sami Alpanda and Serdar Kabaca), revision resubmitted.
• “Identifying the External and Internal Drivers of Exchange Rate Volatility in Small Open Economies: Evidence from Jamaica,” revision resubmitted.
• “Capital outflow management and cross-listing in developing countries” (with Oronde Small and Karlia Clarke), revision requested.
• “Technology diffusion and international business cycles,” under review
• “The cyclicality of income distribution and innovation induced growth”” (with Sami Alpanda), under review.
Link to working papers
Publications, accepted and forthcoming papers:
• “R&D, Market Power and the Cyclicality of Employment”, (with Melanie Guldi, Adam Honig and Zeynep Yom) accepted, Journal of Money, Credit and Banking.
• “Regulatory Arbitrage and Economic Stability”, 2022, Journal of International Money and Finance, vol. 129 (with Sami Alpanda).
• “A structural approach to measuring the degree of economic integration: Evidence from G-7 countries,” 2022, Journal of International Money and Finance, vol. 124.
• “Regulatory arbitrage and global push factors”, 2022, Economic Modelling, (with Stefan Avdjiev and Michael Tseng) https://doi.org/10.1016/j.econmod.2022.105857 .
• “Centralized versus Decentralized Banking: Bank-level evidence from U.S. Call Reports”, 2022, Empirical Economics, 62, 1687-1714 (with Zeynep Yom).
• “R&D characteristics, innovation spillover and technology-driven business cycles,” 2021, Journal of Industry, Competition and Trade, 21, 339–365.
• “Volatility costs of R&D”, European Economic Review, 2020, vol. 122(C).
• “Interest rates, R&D investment and the distortionary effects of R&D incentives”, European Economic Review, 2019, 111(C), pages 191-210. (with Zeynep Kabukcuoglu).
• “What drives local lending by global banks?” accepted, Journal of International Money and Finance, 2019, 90(C), 54-75. (with Stefan Avdjiev and Ralf Hepp).
• “The common sources of business cycles in Trans-Pacific countries and the U.S.? A comparison with NAFTA" The World Economy, April 2019, Vol. 42 Issue 4, p1077, 33 p (with Takeshi Yagihashi). Appendix A , Appendixes B and C.
• “The credit channel is alive at the zero lower bound but how does it operate? Firm-level evidence on the asymmetric effects of U.S. monetary policy,” Economic Modelling, 2018, 75, 305-319 (with Zeynep Kabukcuoglu and Kiyoung Jeon).
• “What drives local lending by global banks?” accepted, Journal of International Money and Finance (with Stefan Avdjiev and Ralf Hepp).
• “Interest rates, R&D investment and the distortionary effects of R&D incentives” accepted, European Economic Review (with Zeynep Kabukcuoglu).
• “The common sources of business cycles in Trans-Pacific countries and the U.S.? A comparison with NAFTA" accepted, The World Economy (with Takeshi Yagihashi).
• "The credit channel is alive at the zero lower bound but how does it operate? Firm-level evidence on the asymmetric effects of U.S. monetary policy,” In Press. Economic Modelling (with Zeynep Kabukcuoglu and Kiyoung Jeon)." https://doi.org/10.1016/j.econmod.2018.07.004
• “The effects of global bank competition and presence on local economies: The Goldilocks principle may not apply to global banking,” Economic Modelling, 70C, 2018, 159-173.
• “Bank size and macroeconomic shock transmission: Does the credit channel operate through large or small banks?” Journal of International Money and Finance, vol. 65, 2016, pages 117-139.
• “The determinants of global bank lending: Evidence from bilateral cross-country data,” (with Ralf Hepp), Journal of Banking and Finance, vol. 66, 2016, pages 35-52.
• “Searching for the source of macroeconomic integration across advanced economies,” Oxford Economic Papers, vol. 68(2), 2016, pages 316-339.
• “Duration of bankruptcy proceedings and monetary policy effectiveness," Journal of Macroeconomics, 44, 2015, 295–302.
• “International transmission of financial shocks in an estimated DSGE model,” (with Sami Alpanda), Journal of International Money and Finance, Volume 47, October 2014, Pages 21–55.
• “Bankruptcy resolution capacity and economic fluctuations”, Journal of Macroeconomics, vol. 40, 2014, Pages 387-399.
• “An alternative measure of structural unemployment,” (with Florence Bouvet and Richard Hofler), Economic Modelling, vol. 38, February 2014, Pages 592-603.
• “Can time varying risk premiums explain the excess returns in the interest rate parity condition?” (with Sanglim Lee), Emerging Markets Review, Volume 18, 78-100, 2014.
• “Identifying the balance sheet and lending channels of monetary transmission: A loan-level analysis" (with Ralf Hepp), Journal of Banking and Finance, Volume 37, Issue 8, August 2013, Pages 2812-2822.
• “Financial frictions and the strength of monetary transmission” (with Adam Honig and Ryan Brady), Journal of International Money and Finance, Volume 32, February 2013, Pages 1097-1119.
• “Global Banking and the Balance Sheet Channel of Monetary Transmission” (with Sami Alpanda), International Journal of Central Banking, Volume 8, Issue 3, September 2012, Pages 141-175.
• “Capital Flows, Maturity Mismatches and Profitability in Emerging Markets: Evidence from Bank Level Data,” Journal of Developing Areas, 46(1), Spring 2012, 211-239.
• “Bankruptcy Costs, Liability Dollarization, and Vulnerability to Sudden Stops,” (with Adam Honig) Journal of Development Economics, Volume 95, Issue 2, July 2011, Pages 201-211. Appendix B
• “Securitization and the Balance Sheet Channel of Monetary Transmission” (with Ralf Hepp), Journal of Banking and Finance, Elsevier, vol. 35(8), pages 2111-2122, August, 2011.
• “An Alternative Method for Measuring Financial Frictions,” The B.E. Journal of Macroeconomics, Vol. 11: Iss. 1 (Topics), Article 7, 2011.
• “Derivatives Market Activity in Emerging Markets and Foreign Exchange Exposure,” (with Melanie Guldi) Emerging Markets Finance and Trade, 47(6), November-December, 2011, 46-67.
• “Exchange Rate Exposure: A Nonparametric Approach,” (with Melanie Guldi), Emerging Markets Review, Volume 12, Issue 4, December 2011, Pages 321-337.
• “Testing for Balance Sheet Effects in Emerging Market Countries: A non-crisis setting” International Finance, Volume 13, Issue 2, Summer 2010, Pages: 223–256.
• "Automatic Stabilizer Feature of Fixed Exchange Rate Regimes," Emerging Markets Review, Vol. 9, Issue 4, December 2008, pp. 302-328