Professor of Economics
Florida International University

Curriculum Vitae

Academic Publications

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

Blog Post
Summary Slides
Published Version
Working Paper Version
"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
"Gasoline Prices, Transport Costs, and the U.S. Business Cycles" Journal of Economic Dynamics and Control

Blog Post
Published Version
Working Paper Version
"What Explains Global Inflation" (with Jongrim Ha, M. Ayhan Kose and Franziska Ohnsorge) IMF Economic Review

Published Version
Working Paper Version
"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
"Accounting for Trade Deficits" Journal of International Money and Finance

Blog Post
Published Version
Working Paper Version
"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
"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
"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
"Geopolitical Risks and Energy Uncertainty: Implications for Global and Domestic Energy Prices" Energy Economics

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

Blog Post
Summary Slides
Published Version
Working Paper Version
"Trade and Cities" (with Cem Karayalcin) World Bank Economic Review

Blog Post
Summary Slides
Published Version
Working Paper Version
"Understanding the International Elasticity Puzzle" Journal of Macroeconomics

Blog Post
Published Version
Working Paper Version
"Trade Partner Diversification and Growth: How Trade Links Matter" (with Ali Sina Onder) Journal of Macroeconomics

Blog Post
Published Version
Working Paper Version
"Relative Price Variability and Inflation: New Evidence" (with Deniz Baglan and Ege Yazgan) Journal of Macroeconomics

Blog Post
Published Version
Working Paper Version
"Drivers of Inflation Convergence across Countries: The Role of Standard Gravity Variables" Macroeconomic Dynamics

Blog Post
Published Version
Working Paper Version
"Unequal Exchange Rate Pass-Through across Income Groups" Macroeconomic Dynamics

Blog Post
Published Version
Working Paper Version
"The Great Trade Collapse: An Evaluation of Competing Stories" Macroeconomic Dynamics

Blog Post
VOX Column
Summary Slides
Published Version
Working Paper Version
"Drivers of International Fiscal Spillovers" Economics & Politics

Published Version
Working Paper Version
"Geopolitical Risk and Stock Prices" European Journal of Political Economy

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

Published Version
Working Paper Version
"Welfare Costs of COVID-19: Evidence from U.S. Counties" Journal of Regional Science

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

Blog Post
Summary Slides
Published Version
Working Paper Version
"Inflation Convergence over Time: Sector-Level Evidence within Europe" International Finance

Blog Post
Published Version
Working Paper Version
"Welfare Costs of Bilateral Currency Crises: The Role of International Trade" International Finance

Blog Post
Published Version
Working Paper Version
"Pass-through of Trade Costs to U.S. Import Prices" Review of World Economics

Blog Post
Published Version
Working Paper Version
"The Role of Direct Flights in Trade Costs" (with Demet Yilmazkuday) Review of World Economics

Blog Post
Summary Slides
Published Version
Working Paper Version
"Pass-Through of Shocks into Different U.S. Prices" Review of International Economics

Blog Post
Published Version
Working Paper Version
"A Solution to the Missing Globalization Puzzle by Non-CES Preferences" Review of International Economics

Blog Post
Published Version
Working Paper Version
"Mismeasurement of Distance Effects: The Role of Internal Location of Production" Review of International Economics

Blog Post
Published Version
Working Paper Version
"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
"Drivers of Income Growth Inequality" Review of Development Economics

Blog Post
Published Version
Working Paper Version
"Government Consumption, Government Debt and Economic Growth" (with Shahrzad Ghourchian) Review of Development Economics

Blog Post
Published Version
Working Paper Version
"Geopolitical Risks and Cryptocurrency Returns" Review of Financial Economics

Published Version
Working Paper Version
"Uneven Effects of Monetary Policy: Sectoral Disparities in Credit Card Spending" Central Bank Review

Published Version
Working Paper Version
"High versus Low Inflation: Implications on Price-Level Convergence" (with Ege Yazgan) Empirical Economics

Blog Post
Published Version
Working Paper Version
"Estimating the Trade Elasticity over Time" Economics Letters

Blog Post
Published Version
Working Paper Version
"Price Dispersion across U.S. Districts of Entry" Economics Letters

Blog Post
Published Version
Working Paper Version
"Business Cycles through International Shocks: A Structural Investigation" Economics Letters

Blog Post
Summary Slides
Published Version
Working Paper Version
"Price-Level Convergence: New Evidence from U.S. Cities" (with Ege Yazgan) Economics Letters

Blog Post
Summary Slides
Published Version
Working Paper Version
"Monetary Policy and Credit Cards: Evidence from a Small-Open Economy" Economic Modelling

Published Version
Working Paper Version
"An Analysis of Regime Shifts in the Turkish Economy" (with Koray Akay) Economic Modelling

Published Version
Working Paper Version
"Constant versus Variable Markups: Implications for the Law of One Price" International Review of Economics and Finance

Blog Post
Published Version
Working Paper Version
"Importer-Specific Elasticities of Demand: Evidence from U.S. Exports" International Review of Economics and Finance

Blog Post
Published Version
Working Paper Version
"Welfare Costs of Urban Traffic through Retail Prices" Transport Policy

Blog Post
Published Version
Working Paper Version
"Coronavirus Disease 2019 and the Global Economy" Transport Policy

Blog Post
Published Version
Working Paper Version
"Profit Margins in U.S. Domestic Airline Routes" Transport Policy

Blog Post
Published Version
Working Paper Version
"Asymmetric Incidence of Sales Taxes: A Short-Run Investigation of Gasoline Prices" Journal of Economics and Business

Blog Post
Published Version
Working Paper Version
"Drivers of Turkish Inflation" Quarterly Review of Economics and Finance

Blog Post
Published Version
Working Paper Version
"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
"Forecasting the Great Trade Collapse" International Economics

Blog Post
Published Version
Working Paper Version
"Drivers of Growth Spillovers" Economic Systems

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

Blog Post
Published Version
Working Paper Version
"Spatial Dispersion of Retail Margins: Evidence from Turkish Agricultural Prices" Agricultural Economics

Blog Post
Published Version
Working Paper Version
"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
"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
"Gravity Channels in Trade" (with Yulin Hou and Yun Wang) Journal of International Trade & Economic Development

Blog Post
Published Version
Working Paper Version
"Individual Tax Rates and Regional Tax Revenues: A Cross-State Analysis" Regional Studies

Blog Post
Media Coverage
Summary Slides
Published Version
Working Paper Version
"Real Exchange Rate Volatility and Economic Growth" International Economic Journal

Published Version
Working Paper Version
"Unequal Welfare Gains from Trade across Countries: The Role of Aggregation and Income Elasticities" International Economic Journal

Blog Post
Published Version
Working Paper Version
"Protectionism, Competitiveness and Inequality: Cross-Country Evidence from Soccer" International Economic Journal

Blog Post
Published Version
Working Paper Version
"Drivers of Global Trade: A Product-Level Investigation" International Economic Journal

Blog Post
Published Version
Working Paper Version
"Decomposing the Gains from Trade through the Standard Gravity Variables" International Economic Journal

Blog Post
Published Version
Working Paper Version
"Inflation Thresholds and Growth" International Economic Journal

Blog Post
Published Version
Working Paper Version
"Geographical Dispersion of Consumer Search Behavior" Applied Economics

Blog Post
Published Version
Working Paper Version
"Inflation Targeting, Flexible Exchange Rates and Inflation Convergence" Applied Economics

Blog Post
Published Version
Working Paper Version
"Inflation Targeting Supported by Managed Exchange Rate" Applied Economics

Published Version
Working Paper Version
"Effects of Credit and Debit Cards on the Currency Demand" (with Ege Yazgan), Applied Economics

Published Version
Working Paper Version
"COVID-19 Effects on the S&P 500 Index" Applied Economics Letters

Blog Post
Published Version
Working Paper Version
"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
"The Effects of Currency Crises on the Long-Run Growth" Applied Economics Letters

Blog Post
Published Version
Working Paper Version
"Monetary Policy Rules in Practice: Evidence from Turkey and Israel" (with Ege Yazgan) Applied Financial Economics

Published Version
Working Paper Version
"Financial Health and The Intensive Margin of Trade" (with Deniz Baglan) Emerging Markets Finance and Trade

Blog Post
Published Version
Working Paper Version
"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
"Structural Breaks in Monetary Policy Rules: Evidence from Transition Countries" Emerging Markets Finance and Trade

Published Version
Working Paper Version
"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
"COVID-19 and Unequal Social Distancing across Demographic Groups" Regional Science, Policy and Practice

Blog Post
Published Version
Working Paper Version
"COVID-19 and Housing Prices: Evidence from U.S. County-Level Data" Review of Regional Research

Blog Post
Published Version
Working Paper Version
"How Wide is the Border across U.S. States?" Letters in Spatial and Resource Sciences

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

Published Version
Working Paper Version
"Inflation and Growth: The Role of Institutions" Journal of Economics and Finance

Blog Post
Published Version
Working Paper Version
"Welfare Costs of Shopping Trips" The Annals of Regional Science

Blog Post
Published Version
Working Paper Version
"Understanding Gasoline Price Dispersion" (with Demet Yilmazkuday) The Annals of Regional Science

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

Blog Post
Published Version
Working Paper Version
"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
"Inflation Dynamics of Turkey: A Structural Estimation" (with Ege Yazgan) Studies in Nonlinear Dynamics and Econometrics

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

Blog Post
Published Version
Working Paper Version
"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
"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
"Stay-at-Home Works to Fight Against COVID-19: International Evidence from Google Mobility Data" Journal of Human Behavior in the Social Environment

Blog Post
Media Coverage #1
Media Coverage #2
Published Version
Working Paper Version
"Fighting Against COVID-19 Requires Wearing a Face Mask by Not Some but All" Transportation Research Interdisciplinary Perspectives

Blog Post
Media Coverage
Published Version
Working Paper Version
"COVID-19 Spread and Inter-County Travel: Daily Evidence from the U.S." Transportation Research Interdisciplinary Perspectives

Blog Post
Published Version
Working Paper Version
"U.S. Tariffs and Stock Prices" Finance Research Letters

Published Version
Working Paper Version
"Geopolitical Risks and Exchange Rates" Finance Research Letters

Published Version
Working Paper Version
"COVID-19 and Monetary Policy with Zero Bounds: A Cross-Country Investigation" Finance Research Letters

Blog Post
Published Version
Working Paper Version
"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
"Money Shocks and Output: A Contemporary Money Demand Approach" Empirical Economics Letters

Published Version
Working Paper Version
"The IS Puzzle and Relative Risk Aversion in Turkey" (with Ege Yazgan) Empirical Economics Letters

Published Version
Working Paper Version
"Productivity Cycles in Public and Private Manufacturing Sectors: Evidence from Turkey" International Journal of Applied Economics

Published Version
Working Paper Version
"Twin Crises in Turkey: A Comparison of Currency Crisis Models" European Journal of Comparative Economics

Published Version
Working Paper Version
"Anti-Crime Laws and Retail Prices" Review of Law and Economics

Blog Post
Published Version
Working Paper Version
"COVID-19 and Daily Oil Price Pass-Through" Energy Research Letters

Blog Post
Published Version
Working Paper Version
"Redistributive Effects of Gasoline Prices" (with Demet Yilmazkuday) Networks and Spatial Economics

Blog Post
Published Version
Working Paper Version
"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
"Unequal Welfare Costs of Staying at Home across Socioeconomic and Demographic Groups" International Journal of Urban Sciences

Blog Post
Published Version
Working Paper Version