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HAKAN YILMAZKUDAY

Professor of Economics
Florida International University

Curriculum Vitae








Academic Publications


  1. "Understanding Long-run Price Dispersion" (with Mario J. Crucini) Journal of Monetary Economics

    Blog Post
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    NBER Working Paper Version

  2. "Gains from Trade: Does Sectoral Heterogeneity Matter?" (with Rahul Giri and Kei-Mu Yi) Journal of International Economics

    Blog Post
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    NBER Working Paper Version


  3. "Understanding Interstate Trade Patterns" Journal of International Economics

    Blog Post
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  4. "Gasoline Prices, Transport Costs, and the U.S. Business Cycles" Journal of Economic Dynamics and Control

    Blog Post
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  5. "Diminishing Gains from Trade across Countries: Interaction between Trade Elasticity and Openness" Journal of International Money and Finance

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  6. "Accounting for Trade Deficits" Journal of International Money and Finance

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  7. "Oil Price Pass-Through into Consumer Prices: Evidence from U.S. Weekly Data" Journal of International Money and Finance

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  8. "Inflation and Exchange Rate Pass-Through" (with Jongrim Ha and Marc Stocker) Journal of International Money and Finance

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  9. "The Impact of China’s Fiscal and Monetary Policy Responses to the Great Recession: An Analysis of Firm-Level Chinese Data" (with Wenjun Xue and Jason Taylor) Journal of International Money and Finance

    Blog Post
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  10. "Understanding the Global Drivers of Inflation: How Important are Oil Prices?" (with Jongrim Ha, M. Ayhan Kose and Franziska Ohnsorge) Energy Economics

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  11. "Energy Price Shocks and Current Account Balances: Evidence from Emerging Market and Developing Economies" (with Mathilde Lebrand and Garima Vasishtha) Energy Economics

    Published Version
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  12. "Thresholds in the Finance-Growth Nexus: A Cross-Country Analysis"  World Bank Economic Review

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  13. "Trade and Cities" (with Cem Karayalcin) World Bank Economic Review

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  14. "Understanding the International Elasticity Puzzle" Journal of Macroeconomics

    Blog Post
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  15. "Trade Partner Diversification and Growth: How Trade Links Matter" (with Ali Sina Onder) Journal of Macroeconomics

    Blog Post
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  16. "Relative Price Variability and Inflation: New Evidence" (with Deniz Baglan and Ege Yazgan) Journal of Macroeconomics

    Blog Post
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  17. "Drivers of Inflation Convergence across Countries: The Role of Standard Gravity Variables" Macroeconomic Dynamics

    Blog Post
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  18. "Unequal Exchange Rate Pass-Through across Income Groups" Macroeconomic Dynamics

    Blog Post
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  19. "The Great Trade Collapse: An Evaluation of Competing Stories" Macroeconomic Dynamics

    Blog Post
    VOX Column
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  20. "Welfare Costs of COVID-19: Evidence from U.S. Counties" Journal of Regional Science

    Blog Post
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  21. "Agglomeration and Trade: State-Level Evidence from U.S. Industries" Journal of Regional Science

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  22. "Inflation Convergence over Time: Sector-Level Evidence within Europe" International Finance

    Blog Post
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  23. "Welfare Costs of Bilateral Currency Crises: The Role of International Trade" International Finance

    Blog Post
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  24. "Pass-through of Trade Costs to U.S. Import Prices" Review of World Economics

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  25. "The Role of Direct Flights in Trade Costs" (with Demet Yilmazkuday) Review of World Economics

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  26. "Pass-Through of Shocks into Different U.S. Prices" Review of International Economics

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  27. "A Solution to the Missing Globalization Puzzle by Non-CES Preferences" Review of International Economics

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  28. "Mismeasurement of Distance Effects: The Role of Internal Location of Production" Review of International Economics

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  29. "Bilateral versus Multilateral Free Trade Agreements: A Welfare Analysis" (with Demet Yilmazkuday) Review of International Economics

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  30. "Government Consumption, Government Debt and Economic Growth" (with Shahrzad Ghourchian) Review of Development Economics

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  31. "High versus Low Inflation: Implications on Price-Level Convergence" (with Ege Yazgan) Empirical Economics

    Blog Post
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  32. "Estimating the Trade Elasticity over Time" Economics Letters

    Blog Post
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  33. "Price Dispersion across U.S. Districts of Entry" Economics Letters

    Blog Post
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  34. "Business Cycles through International Shocks: A Structural Investigation" Economics Letters

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  35. "Price-Level Convergence: New Evidence from U.S. Cities" (with Ege Yazgan) Economics Letters

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  36. "Monetary Policy and Credit Cards: Evidence from a Small-Open Economy" Economic Modelling

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  37. "An Analysis of Regime Shifts in the Turkish Economy" (with Koray Akay) Economic Modelling

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  38. "Constant versus Variable Markups: Implications for the Law of One Price" International Review of Economics and Finance

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  39. "Importer-Specific Elasticities of Demand: Evidence from U.S. Exports" International Review of Economics and Finance

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  40. "Coronavirus Disease 2019 and the Global Economy" Transport Policy

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  41. "Profit Margins in U.S. Domestic Airline Routes" Transport Policy

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  42. "Asymmetric Incidence of Sales Taxes: A Short-Run Investigation of Gasoline Prices" Journal of Economics and Business

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  43. "Drivers of Turkish Inflation" Quarterly Review of Economics and Finance

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  44. "Can Inflation Targeting Regimes be Effective in Developing Countries? The Turkish Experience" (with Ali Kutan and Cem Akyurek) Journal of Asian Economics

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  45. "Forecasting the Great Trade Collapse" International Economics

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  46. "Inflation, Financial Development, and Growth: A Trilateral Analysis" (with Peter L. Rousseau) Economic Systems

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  47. "Spatial Dispersion of Retail Margins: Evidence from Turkish Agricultural Prices" Agricultural Economics

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  48. "Gains from Domestic versus International Trade: Evidence from the U.S." Journal of International Trade & Economic Development

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  49. "Welfare Implications of Solving the Distance Puzzle: Global Evidence from the Last Two Centuries" Journal of International Trade & Economic Development

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  50. "Gravity Channels in Trade" (with Yulin Hou and Yun Wang) Journal of International Trade & Economic Development

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  51. "Individual Tax Rates and Regional Tax Revenues: A Cross-State Analysis" Regional Studies

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  52. "Unequal Welfare Gains from Trade across Countries: The Role of Aggregation and Income Elasticities" International Economic Journal

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  53. "Protectionism, Competitiveness and Inequality: Cross-Country Evidence from Soccer" International Economic Journal

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  54. "Drivers of Global Trade: A Product-Level Investigation" International Economic Journal

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  55. "Decomposing the Gains from Trade through the Standard Gravity Variables" International Economic Journal

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  56. "Inflation Thresholds and Growth" International Economic Journal

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  57. "Geographical Dispersion of Consumer Search Behavior" Applied Economics

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  58. "Inflation Targeting, Flexible Exchange Rates and Inflation Convergence" Applied Economics

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  59. "Inflation Targeting Supported by Managed Exchange Rate" Applied Economics

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  60. "Effects of Credit and Debit Cards on the Currency Demand" (with Ege Yazgan), Applied Economics

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  61. "COVID-19 Effects on the S&P 500 Index" Applied Economics Letters

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  62. "Daily Exchange Rate Pass-Through into Micro Prices" (with Renzo Alvarez, Amin Shoja and Syed Uddin) Applied Economics Letters

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  63. "The Effects of Currency Crises on the Long-Run Growth" Applied Economics Letters

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  64. "Monetary Policy Rules in Practice: Evidence from Turkey and Israel" (with Ege Yazgan) Applied Financial Economics

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  65. "Financial Health and The Intensive Margin of Trade" (with Deniz Baglan) Emerging Markets Finance and Trade

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  66. "The Effects of Currency Crises in Emerging Markets on the Industrial Sector: An Alternative Regime-Shifting Approach" Emerging Markets Finance and Trade

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  67. "Structural Breaks in Monetary Policy Rules: Evidence from Transition Countries" Emerging Markets Finance and Trade

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  68. "Welfare Costs of Travel Reductions within the U.S. due to COVID-19" Regional Science, Policy and Practice

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  69. "COVID-19 and Unequal Social Distancing across Demographic Groups" Regional Science, Policy and Practice

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  70. "COVID-19 and Housing Prices: Evidence from U.S. County-Level Data" Review of Regional Research

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  71. "How Wide is the Border across U.S. States?" Letters in Spatial and Resource Sciences

    Blog Post
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  72. "Okun's Convergence within the U.S." (with Ege Yazgan) Letters in Spatial and Resource Sciences

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  73. "Inflation and Growth: The Role of Institutions" Journal of Economics and Finance

    Blog Post
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  74. "Welfare Costs of Shopping Trips" The Annals of Regional Science

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  75. "Understanding Gasoline Price Dispersion" (with Demet Yilmazkuday) The Annals of Regional Science

    Blog Post
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  76. "COVID-19 and Exchange Rates: Spillover Effects of U.S. Monetary Policy" Atlantic Economic Journal

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  77. "Inflation Dynamics of Turkey: A Structural Estimation" (with Ege Yazgan) Studies in Nonlinear Dynamics and Econometrics

    Summary Slides
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  78. "Nonlinear Effects of Mobility on COVID-19 in the U.S.: Targeted Lockdowns Based on Income and Poverty" Journal of Economic Studies

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  79. "Specialization, Field Distance and Quality in Economists' Collaborations" (with Ali Sina Onder and Sascha Schweitzer) Journal of Informetrics

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  80. "Thirty-Five Years of Peer-Reviewed Publishing by North American Economics PhDs: Quantity, Quality, and Beyond" (with Ali Sina Onder) Open Economics

    VOX Column
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  81. "Stay-at-Home Works to Fight Against COVID-19: International Evidence from Google Mobility Data" Journal of Human Behavior in the Social Environment

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  82. "COVID-19 Spread and Inter-County Travel: Daily Evidence from the U.S." Transportation Research Interdisciplinary Perspectives

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  83. "COVID-19 and Monetary Policy with Zero Bounds: A Cross-Country Investigation" Finance Research Letters

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  84. "Unequal Unemployment Effects of COVID-19 and Monetary Policy across U.S. States" Journal of Behavioral Economics for Policy

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  85. "Money Shocks and Output: A Contemporary Money Demand Approach" Empirical Economics Letters

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  86. "The IS Puzzle and Relative Risk Aversion in Turkey" (with Ege Yazgan) Empirical Economics Letters

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  87. "Productivity Cycles in Public and Private Manufacturing Sectors: Evidence from Turkey" International Journal of Applied Economics

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  88. "Twin Crises in Turkey: A Comparison of Currency Crisis Models" European Journal of Comparative Economics

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  89. "Anti-Crime Laws and Retail Prices" Review of Law and Economics

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  90. "COVID-19 and Daily Oil Price Pass-Through" Energy Research Letters

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  91. "Redistributive Effects of Gasoline Prices" (with Demet Yilmazkuday) Networks and Spatial Economics

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  92. Changes in Consumption in the Early COVID-19 Era: Zip-Code Level Evidence from the U.S." Journal of Risk and Financial Management

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  93. "Unequal Welfare Costs of Staying at Home across Socioeconomic and Demographic Groups" International Journal of Urban Sciences

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Working Papers
  1. "What Explains Global Inflation?" (with Jongrim Ha, M. Ayhan Kose and Franziska Ohnsorge) revision invited at IMF Economic Review

    Working Paper Version


  2. "Geopolitical Risks and Energy Uncertainty: Implications for Global and Domestic Energy Prices" revision invited at Energy Economics

    Working Paper Version


  3. "Geopolitical Risk, Supply Chains, and Global Inflation" (with Omid Asadollah, Linda Carmy and Md. Rezwanul Hoque) revision invited at The World Economy

    Working Paper Version


  4. "Drivers of International Fiscal Spillovers" revision invited at Economics and Politics

    Working Paper Version


  5. "Geopolitical Risk and Stock Prices" revision invited at European Journal of Political Economy

    Working Paper Version


  6. "Welfare Costs of Urban Traffic through Retail Prices" revision invited at Transport Policy

    Blog Post
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  7. "Fighting Against COVID-19 Requires Wearing a Face Mask by Not Some but All" revision invited at Transportation Research Interdisciplinary Perspectives

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  8. "A Political Economy Analysis of Changes and Continuities in Iran-Africa Trade Relations: A Case of South-South Dependency?" (with Eric Lob) revision invited at Review of Social Economy

    Working Paper Version


  9. "Drivers of Growth Spillovers"

    Working Paper Version


  10. "Drivers of Income Growth Inequality"

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  11. "Geopolitical Risks and Shipping Costs"

    Working Paper Version


  12. "Inflation Spillovers through International Trade"

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  13. "Shock-Dependent Phillips Curve: Evidence from the U.S."

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  14. "International Spillover Effects of Geopolitical Risks on Economic Growth"

    Working Paper Version


  15. "Global versus Domestic Supply Chain Disruptions: Implications for Inflation and Economic Confidence"

    Working Paper Version


  16. "Exchange Rate Determination under Alternative Inflation Targets: The Role of Trade Costs" (with Renzo Alvarez)

    Working Paper Version


  17. "Housing Price Dynamics within the U.S.: Evidence from Zip Codes with Different Demographics" (with Shahrzad Ghourchian)

    Working Paper Version


  18. "Early 20th Century American Exceptionalism: Production, Trade and Diffusion of the Automobile" (with Dong Cheng, Mario J. Crucini, Hyunseung Oh)

    VOX Column
    Media Coverage
    NBER Working Paper Version