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An experiment on aspiration-based choice
(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 reset inflation puzzle and the heterogeneity in price stickiness
(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 ...
Catching up or drifting apart: convergence of household and business credit in Europe
(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 ...
Performance of inflation targeting in retrospect
(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 ...
The Turkish appetite for gold: An Islamic explanation
(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. ...
Role of strategic interactions in corporate sustainability decisions: an empirical investigation
(Turkish Economic Association, 2017-01-01)
There is a large amount of empirical literature on the relationship between corporate sustainability and corporate financial performance. However, the literature considers company-specific aspects affecting the link but ...
Intergenerational mobility and the effects of parental education, time investment, and income on children’s educational attainment
(Federal Reserve Bank of St.Louis, 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 ...
Price and quality decisions of a service provider under heterogeneous demand
(Boğaziçi Üniversitesi, 2019)
A monopolist service provider's quality and price decisions are analyzed in a vertically differentiated market where customers demand different quantities of a service. We find that depending on the relative sizes of the ...
Accounting for age in marital search decisions
(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 ...
Global trends in liquidity creation: The role of the off-balance sheet
(Peter Lang AG, 2019-03-28)
Banks create liquidity by transforming liquid liabilities into illiquid assets and this is one of their main functions. Yet excessive liquidity creation, especially via off-balance sheet activities, might have contributed ...
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