HAKAN YILMAZKUDAY

Professor of Economics @ FIU

Curriculum Vitae





Research and Teaching Fields

  • International Trade and Finance
  • Growth and Development
  • Monetary Economics
  • Regional Economics
  • Macroeconomics


Working Papers


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


  2. "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) revision invited at Journal of International Money and Finance


  3. "Welfare Gains from Trade in Multi-Sector Models: The Role of Aggregation and Income Elasticities" under review

    Corresponding Blog Post


  4. "Accounting for Trade Deficits" under review

    Corresponding Blog Post


  5. "Exchange Rate Pass-Through into Welfare" under review

    Corresponding Blog Post


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

    Corresponding VOX Column


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

    Corresponding VOX Column


  8. "Profit Margins in U.S. Domestic Airline Routes" under review

    Corresponding Blog Post


  9. “Inflation and Exchange Rate Pass-Through” (with Jongrim Ha and Marc Stocker) under review


  10. “Gravity Channels in Trade” (with Yulin Hou and Yun Wang) under review


  11. “Oil Price Pass-Through into Consumer Prices: Evidence from U.S. Weekly Data” under review


  12. “Government Consumption, Government Debt and Economic Growth” (with Shahrzad Ghourchian) under review


  13. "Specialization, Distance, and Quality in Economists' Collaborations: How Diverse is Research Really?" (with Ali Sina Onder and Sascha Schweitzer) under review




Publications in Refereed Journals


  1. "The Great Trade Collapse: An Evaluation of Competing Stories" accepted at Macroeconomic Dynamics

    Corresponding VOX Column
    Corresponding Blog Post


  2. "Understanding Long-run Price Dispersion" (with Mario J. Crucini), Journal of Monetary Economics, 2014, 66: 226-240.

    Corresponding Blog Post


  3. "Understanding Interstate Trade Patterns" Journal of International Economics, 2012, 86: 158-166.

    Corresponding Blog Post
    Summary Slides


  4. "Gasoline Prices, Transport Costs, and the U.S. Business Cycles" Journal of Economic Dynamics and Control, 2014, 45: 165–179.

    Corresponding Blog Post


  5. "Trade and Cities" (with Cem Karayalcin) World Bank Economic Review, 2015, 29 (3): 523-549.

    Corresponding Blog Post
    Corresponding Media Coverage


  6. "Thresholds in the Finance-Growth Nexus: A Cross-Country Analysis"  World Bank Economic Review, 2011, 25(2): 278-295.

    Corresponding Blog Post
    Summary Slides


  7. "Agglomeration and Trade: State-Level Evidence from U.S. Industries" Journal of Regional Science, 2011, 51(1): 139-166.

    Corresponding Blog Post
    Summary Slides


  8. "Understanding the International Elasticity Puzzle" Journal of Macroeconomics, 2019, 59: 140-153.

    Corresponding Blog Post


  9. "Trade Partner Diversification and Growth: How Trade Links Matter" (with Ali Sina Onder) Journal of Macroeconomics, 2016, 50: 241–258.

    Corresponding Blog Post


  10. "Relative Price Variability and Inflation: Evidence from Micro Price Data" (with Deniz Baglan and Ege Yazgan) Journal of Macroeconomics, 2016, 48: 263:282.

    Corresponding Blog Post


  11. "Pass-through of Trade Costs to U.S. Import Prices" Review of World Economics, 2015, 151(4): 609-633.

    Corresponding Blog Post


  12. "The Role of Direct Flights in Trade Costs" (with Demet Yilmazkuday) Review of World Economics, 2017, 153(2): 249-270.

    Corresponding Blog Post
    Corresponding Media Coverage


  13. "A Solution to the Missing Globalization Puzzle by Non-CES Preferences" Review of International Economics, 2017, 25(3): 649-676.

    Corresponding Blog Post


  14. "Mismeasurement of Distance Effects: The Role of Internal Location of Production" Review of International Economics, 2014, 22(5): 992–1015.

    Corresponding Blog Post


  15. "Bilateral versus Multilateral Free Trade Agreements: A Welfare Analysis" (with Demet Yilmazkuday), Review of International Economics, 2014, 22(3): 513–535.

    Corresponding Blog Post
    Summary Slides


  16. "Estimating the Trade Elasticity over Time" Economics Letters, 2019, 183: .

    Corresponding Blog Post


  17. "Price Dispersion across U.S. Districts of Entry" Economics Letters, 2014, 123(3): 361-365.

    Corresponding Blog Post


  18. "Business Cycles through International Shocks: A Structural Investigation"  Economics Letters, 2012, 115: 329-333.

    Corresponding Blog Post
    Summary Slides


  19. "Price-Level Convergence: New Evidence from U.S. Cities" (with Ege Yazgan), Economics Letters, 2011, 110: 76-78.

    Corresponding Blog Post
    Summary Slides


  20. "Gains from Domestic versus International Trade: Evidence from the U.S." accepted at Journal of International Trade and Economic Development

    Corresponding Blog Post


  21. "Spatial Dispersion of Retail Margins: Evidence from Turkish Agricultural Prices" Agricultural Economics, 2018, 49(4): 455-462.

    Corresponding Blog Post


  22. "Individual Tax Rates and Regional Tax Revenues: A Cross-State Analysis" Regional Studies, 2017, 51(5): 701-711.

    Corresponding Blog Post
    Corresponding Media Coverage


  23. "Financial Health and The Intensive Margin of Trade" (with Deniz Baglan) Emerging Markets Finance and Trade, 2018, 54(6): 1304-1319.

    Corresponding Blog Post


  24. "Forecasting the Great Trade Collapse" International Economics, 2016, 147: 145-154.

    Corresponding Blog Post


  25. "Redistributive Effects of Gasoline Prices" (with Demet Yilmazkuday) Networks and Spatial Economics, 2019, 19(1): 109–124.

    Corresponding Blog Post


  26. "Anti-Crime Laws and Retail Prices" Review of Law and Economics, 2017, 13(3): 1-18.

    Corresponding Blog Post


  27. "Geographical Dispersion of Consumer Search Behavior" Applied Economics, 2017, 49(57): 5740–5752.

    Corresponding Blog Post


  28. "Asymmetric Incidence of Sales Taxes: A Short-Run Investigation of Gasoline Prices" Journal of Economics and Business, 2017, 91: 16-23.

    Corresponding Blog Post


  29. "Understanding Gasoline Price Dispersion" (with Demet Yilmazkuday) The Annals of Regional Science, 2016, 57(1): 223-252.

    Corresponding Blog Post


  30. "Constant versus Variable Markups: Implications for the Law of One Price" International Review of Economics and Finance, 2016, 44: 154-168.

    Corresponding Blog Post


  31. "High versus Low Inflation: Implications on Price-Level Convergence" (with Ege Yazgan) Empirical Economics, 2016, 50: 1527-1563.

    Corresponding Blog Post


  32. "Inflation Targeting, Flexible Exchange Rates and Inflation Convergence" Applied Economics, 2013, 45(3): 593-603.

    Corresponding Blog Post


  33. "Daily Exchange Rate Pass-Through into Micro Prices" (with Renzo Alvarez, Amin Shoja and Syed Uddin) Applied Economics Letters, 2019, 26(6): 440-445.

    Corresponding Blog Post


  34. "How Wide is the Border across U.S. States?" Letters in Spatial and Resource Sciences, 2012, 5(1): 25-31.

    Corresponding Blog Post


  35. "Inflation Thresholds and Growth" International Economic Journal, 2013, 27(1): 1-10.

    Corresponding Blog Post


  36. "Importer-Specific Elasticities of Demand: Evidence from U.S. Exports" International Review of Economics and Finance, 2015, 35: 228-234.


  37. "The Effects of Currency Crises on the Long-Run Growth" Applied Economics Letters, 2010, 17(3): 209-212.


  38. "Inflation, Finance and Growth: A Trilateral Analysis" (with Peter L. Rousseau), Economic Systems, 2009, 33(4): 310-324.


  39. "Can Inflation Targeting Regimes be Effective in Developing Countries? The Turkish Experience" (with Ali Kutan and Cem Akyurek), Journal of Asian Economics, 2011, 22(5): 343-355.


  40. “Monetary Policy and Credit Cards: Evidence from a Small-Open Economy” Economic Modelling, 2011, 28: 201-210.


  41. "The IS Puzzle and Relative Risk Aversion in Turkey" (with Ege Yazgan), Empirical Economics Letters, 2010, 9(2), 131-138.


  42. "The Effects of Credit and Debit Cards on the Currency Demand" (with Ege Yazgan), Applied Economics, 2009, 41(17): 2115-2123.


  43. "The Effects of Currency Crises On the Business Cycles: An Alternative Regime-Shifting Approach" Emerging Markets Finance and Trade, 2009, 45(1): 31-48.


  44. "Productivity Cycles in Public and Private Manufacturing Sectors: Evidence from Turkey" International Journal of Applied Economics, 2009, 6(2): 21-40.


  45. "Okun's Convergence within the U.S." (with Ege Yazgan), Letters in Spatial and Resource Sciences, 2009, 2(2-3): 109-122.  


  46. "An Analysis of Regime Shifts in the Turkish Economy" (with Koray Akay), Economic Modelling, 2008, 25(5): 885-898.


  47. "Twin Crises in Turkey: A Comparison of Currency Crisis Models" European Journal of Comparative Economics, 2008, 5(1): 107-124.


  48. "Structural Breaks in Monetary Policy Rules: Evidence from Transition Countries" Emerging Markets Finance and Trade, 2008, 44(6): 87-97.


  49. "Money Shocks and Output: A Contemporary Money Demand Approach" Empirical Economics Letters, 2008, 7(1): 1-4.


  50. "Inflation Targeting Supported by Managed Exchange Rate"  Applied Economics, September 2007, 39(16): 2011-2026.


  51. "Monetary Policy Rules in Practice: Evidence from Turkey and Israel" (with Ege Yazgan), Applied Financial Economics, January 2007, 17(1): 1-8.


  52. "Inflation Dynamics of Turkey: A Structural Estimation" (with Ege Yazgan), Studies in Nonlinear Dynamics and Econometrics, 2005, 9(1): 1:13.

    Summary Slides







Last Updated: September 20, 2019