• Costly switching from a status quo 

  Güney, Begüm; Richter, M. (Elsevier, 2018-12)

  We axiomatically characterize a theory of status quo-dependent choice where an agent faces switching costs that depend upon both the status quo and the alternative he switches to. In a choice problem with a status quo, the ...

• Sustainable development from millennium 2015 to sustainable development goals 2030 

  Halisçelik, E.; Soytaş, Mehmet Ali (Wiley, 2019-01-22)

  In modern economies, the advancement of well‐being of the citizens should be in an inclusive and sustainable way. In this respect, the sustainable welfare targets should exclusively include three main pillars: economic ...

• Intergenerational mobility and the effects of parental education, time investment, and income on children’s educational attainment 

  Gayle, G. - L.; Golan, L.; Soytaş, Mehmet Ali (Federal Reserve Bank of St. Louis Review, 2018-07-15)

  This article analyzes the mechanisms through which parents’ and children’s education are linked. It estimates the causal effect of parental education, parental time with children, and parental income during early childhood ...

• Estimation of dynastic lifecycle discrete choice models 

  Gayle, G. - L.; Golan, L.; Soytaş, Mehmet Ali (Wiley, 2018-11)

  This paper explores the estimation of a class of life‐cycle discrete choice dynastic models. It provides a new representation of the value function for these class of models. It compare a multistage conditional choice ...

• Aspiration-based choice 

  Güney, Begüm; Richter, M.; Tsur, M. (Elsevier, 2018-07)

  Numerous studies and experiments suggest that aspirations for desired but perhaps unavailable alternatives influence decisions. A common finding is that an unavailable aspiration steers agents to choose similar available ...

• Effectiveness of monetary policy: evidence from Turkey 

  Avci, S. B.; Yücel, Mustafa Eray (Springer International Publishing, 2017-08)

  An effective monetary policy framework is often viewed as a pre-condition for well-functioning financial markets. Yet measuring monetary policy effectiveness is not straightforward; it requires empirical work to understand ...

• Performance of inflation targeting in retrospect 

  Kose, N.; Yalcin, Y.; Yücel, Eray (Springer International Publishing, 2016)

  Both inflation and inflation expectations declined considerably in the inflation targeting countries during the past two decades. The questions of whether this decline has actually been an outcome of inflation targeting ...

• Catching up or drifting apart: convergence of household and business credit in Europe 

  Bahadır, Berrak; Valev, N. (Elsevier, 2017)

  We provide evidence for convergence in the levels of household and business credit across European countries. The process is particularly strong for the transition countries that have a low initial level of private credit ...

• A comparison of optimal policy rules prior to and during inflation targeting: empirical evidence from Bank of Canada 

  Eksi, O.; Kaya Eksi, N.; Özlale, Ümit (Taylor & Francis, 2017)

  We examine policy rules that are consistent with inflation targeting (IT) framework in a small macroeconomic model of the Canadian economy. We set up an optimal linear regulator problem and derive policy rules to compare ...

• Credit decomposition and business cycles in emerging market economies 

  Bahadır, Berrak; Gumus, I. (Elsevier, 2016)

  This paper analyzes the differential effects of household and business credit dynamics on business cycles in emerging market economies. We first provide evidence that existing results relating credit expansions to economic ...

• Will a fat tax work? 

  Khan, Romana; Misra, K. (Wiley, 2016-01)

  Of the many proposals to reverse the obesity epidemic, the most contentious is the use of price-based interventions such as the fat tax. Previous investigations of the efficacy of such initiatives in altering consumption ...

• Accounting for age in marital search decisions 

  Akın, Nuray; Platt, Brennan C. (Elsevier, 2016-06)

  Spouse quality, measured by educational attainment, varies significantly with the age at which an individual marries, peaking in the mid-twenties then declining through the early-forties. Interestingly, this decline is ...

• Emerging market economies and the world interest rate 

  Bahadır, Berrak; Lastrapes, W. D. (Elsevier, 2015-11)

  We use a Factor Augmented VAR model to estimate the dynamic responses of interest rates in emerging market economies to the ‘world’ interest rate, which we extract from a dynamic factor model of yields in industrialized ...

• The reset inflation puzzle and the heterogeneity in price stickiness 

  Kara, Engin (Elsevier, 2015-11)

  New Keynesian models have been criticised on the grounds that they require implausibly large price shocks to explain inflation. Bils et al. (2012) show that, while these shocks are needed to reduce the excessive inflation ...

• An experiment on aspiration-based choice 

  Güney, Begüm; Richter, M. (Elsevier, 2015-11)

  This paper experimentally studies the influence of aspirations on choice. Motivated by the theoretical model of Guney et al. (2015), we consider choice problems which may include unavailable alternatives. In a choice ...

• The Turkish appetite for gold: An Islamic explanation 

  Gülseven, O.; Ekici, Özgün (Elsevier, 2016-06)

  A significant constituent of household wealth in Turkey is gold. Families accumulate gold especially on a variety of cultural occasions such as female-only gold days, circumcision feasts, and engagement and wedding ceremonies. ...

• Hierarchical modeling of choice concentration of US households 

  Jeliazkov, I.; Yang, X.-S.; Hansen, K. T.; Khan, Romana; Singh, V. (Wiley, 2014)

  This chapter contains sections titled: Introduction Data Description Measures of Choice Concentration Methodology Results Interpreting θ Decomposing the Effects of Time, Number of Decisions and Concentration Preference Conclusion.

• An equilibrium analysis of the probabilistic serial mechanism 

  Ekici, Özgün; Kesten, O. (Springer Science+Business Media, 2016-08)

  The prominent mechanism of the recent literature in the assignment problem is the probabilistic serial (PS). Under PS, the truthful (preference) proÖle always constitutes an ordinal Nash Equilibrium, inducing a random ...

• Financial development convergence 

  Bahadır, Berrak; Valev, N. (Elsevier, 2015-07)

  We show that credit levels relative to GDP and other measures for financial development tend to converge across countries over time. The results are obtained using a broad sample of countries over many years and controlling ...

• The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge 

  Selgin, G.; Beckworth, D.; Bahadır, Berrak (Elsevier, 2015-03)

  It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures ...

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