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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
    Summary Slides

    Published Version
    NBER Working Paper Version #1
    NBER Working Paper Version #2


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

    Blog Post
    Published Version
    NBER Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    VOX Column
    Media Coverage
    Published Version
    NBER Working Paper Version


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

    Blog Post
    Published Version
    Working Paper Version



  6. "What Explains Global Inflation" (with Jongrim Ha, M. Ayhan Kose and Franziska Ohnsorge) IMF Economic Review

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  8. "Accounting for Trade DeficitsJournal of International Money and Finance

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  11. "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
    Published Version
    Working Paper Version



  12. "Geopolitical Risks and Energy Uncertainty: Implications for Global and Domestic Energy Prices" Energy Economics

    Published Version
    Working Paper Version


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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  21. "Unequal Exchange Rate Pass-Through across Income Groups" Macroeconomic Dynamics

    Blog Post
    Published Version
    Working Paper Version



  22. "The Great Trade Collapse: An Evaluation of Competing Stories" Macroeconomic Dynamics

    Blog Post
    VOX Column
    Summary Slides
    Published Version
    Working Paper Version



  23. "Drivers of International Fiscal Spillovers" Economics & Politics

    Published Version
    Working Paper Version


  24. "Geopolitical Risk and Stock PricesEuropean Journal of Political Economy

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version


  26. "Welfare Costs of COVID-19: Evidence from U.S. Counties" Journal of Regional Science

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  29. "Welfare Costs of Bilateral Currency Crises: The Role of International Trade" International Finance

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  37. "Geopolitical Risks and Cryptocurrency Returns" Review of Financial Economics

    Published Version
    Working Paper Version


  38. "Uneven Effects of Monetary Policy: Sectoral Disparities in Credit Card Spending" Central Bank Review

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  40. "Estimating the Trade Elasticity over Time" Economics Letters

    Blog Post
    Published Version
    Working Paper Version



  41. "Price Dispersion across U.S. Districts of Entry" Economics Letters

    Blog Post
    Published Version
    Working Paper Version



  42. "Business Cycles through International Shocks: A Structural Investigation" Economics Letters

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version


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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version


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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  51. "Drivers of Turkish InflationQuarterly Review of Economics and Finance

    Blog Post
    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



  53. "Forecasting the Great Trade Collapse" International Economics

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  59. "Individual Tax Rates and Regional Tax Revenues: A Cross-State AnalysisRegional Studies

    Blog Post
    Media Coverage
    Summary Slides
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  64. "Inflation Thresholds and Growth" International Economic Journal

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  78. "COVID-19 and Housing Prices: Evidence from U.S. County-Level DataReview of Regional Research

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  82. "Welfare Costs of Shopping Trips" The Annals of Regional Science

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



  84. "COVID-19 and Exchange Rates: Spillover Effects of U.S. Monetary PolicyAtlantic Economic Journal

    Blog Post
    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version


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

    Summary Slides
    Published Version
    Working Paper Version



  87. "Nonlinear Effects of Mobility on COVID-19 in the U.S.: Targeted Lockdowns Based on Income and PovertyJournal of Economic Studies

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    VOX Column
    Published Version
    Working Paper Version



  90. "Stay-at-Home Works to Fight Against COVID-19: International Evidence from Google Mobility DataJournal of Human Behavior in the Social Environment

    Blog Post
    Media Coverage #1
    Media Coverage #2
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version


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

    Blog Post
    Published Version
    Working Paper Version


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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



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

    Published Version
    Working Paper Version



  98. "Anti-Crime Laws and Retail PricesReview of Law and Economics

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version



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

    Blog Post
    Published Version
    Working Paper Version








Working Papers


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

    Blog Post
    Working Paper Version



  2. "Shock-Dependent Phillips Curve: Evidence from the U.S." revision invited at Pacific Economic Review

    Blog Post
    Working Paper Version



  3. "Drivers of Credit and Debit Card Transactions" revision invited at Journal of International Financial Markets, Institutions and Money

    Working Paper Version



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

    Blog Post
    Media Coverage
    Working Paper Version


  5. "Drivers of Growth Spillovers"

    Working Paper Version


  6. "El Niño, La Niña and Inflation"

    Working Paper Version


  7. "Welfare Costs of Oil Price Shocks"

    Working Paper Version


  8. "Drivers of Income Growth Inequality"

    Blog Post
    Working Paper Version



  9. "Geopolitical Risks and Shipping Costs"

    Working Paper Version



  10. "Geopolitical Risks and Exchange Rates"

    Working Paper Version


  11. "Asymmetric Exchange Rate Pass-Through"

    Working Paper Version



  12. "Inflation Spillovers through International Trade"

    Working Paper Version


  13. "Accounting for the Gains from Tariff Reductions"

    Working Paper Version



  14. "Real Exchange Rate Volatility and Economic Growth"

    Working Paper Version


  15. "Artificial Intelligence and Labor Markets: Evidence from Google Trends"

    Working Paper Version



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

    Working Paper Version



  17. "Gains from Reducing Transport Costs: Essential Transport Policy Suggestions"

    Working Paper Version


  18. "Global Supply Chains and Geopolitical Risks: Policy Implications for Trade Deficits"

    Working Paper Version



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

    Working Paper Version


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

    Working Paper Version



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

    Working Paper Version