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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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


  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

    Corresponding Blog Post


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


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post


  16. "Relative Price Variability and Inflation: Evidence from Micro Price Data" (with Deniz Baglan and Ege Yazgan) Journal of Macroeconomics

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding VOX Column
    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post
    Summary Slides


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


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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


  45. "Forecasting the Great Trade Collapse" International Economics

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Corresponding Media Coverage
    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post



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

    Corresponding Blog Post


  56. "Inflation Thresholds and Growth" International Economic Journal

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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


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

    Corresponding Blog Post


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


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Summary Slides


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

    Corresponding Blog Post


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

    Corresponding Blog Post



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

    Corresponding VOX Column


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

    Corresponding Blog Post
    Corresponding Media Coverage #1
    Corresponding Media Coverage #2


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

    Corresponding Blog Post


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

    Corresponding Blog Post

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

    Corresponding Blog Post


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


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


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


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post


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

    Corresponding Blog Post







Working Papers


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


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


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


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

    Corresponding Blog Post


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

    Corresponding Blog Post
    Corresponding Media Coverage


  6. "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


  7. "Drivers of Growth Spillovers"


  8. "Drivers of Income Growth Inequality"

    Corresponding Blog Post


  9. "Drivers of International Fiscal Spillovers"


  10. "Inflation Spillovers through International Trade"


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

    Corresponding Blog Post


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


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


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


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


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

    Corresponding VOX Column
    Corresponding Media Coverage