ERF Working Paper Series 

•  International Labour Force Participation Rates by Gender: Unit Root or Structural Breaks?

     Zeynel Abidin Ozdemir, Mehmet Balcilar, Aysit Tansel, No: 1130 

• Volatility, Money Market Rates, and the Transmission of Monetary Polic

     Seth B. Carpenter, Selva Demiralp, No. 1129  

• Monetary policy communication under inflation targeting: Do words speak louder than actions? 

     Selva Demiralp, Hakan Kara, Pınar Özlü, No. 1128 

• Do Disaster Expectations Explain Household Portfolios?

     Sule Alan, No. 1127  

• Job Loss, Credit Constraints and Consumption Growth

     Thomas F. Crossley, Hamish W. Low, No. 1126 

• Taking Multi-Sector Dynamic General Equilibrium Models to the Data 

     Huw Dixon, Engin Kara, No: 1125 

• On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms 

     Francis X. Diebold, Kamil Yılmaz, No. 1124    

• Truth-telling and Trust in Sender-receiver Games with Intervention 

     Mehmet Y. Gurdal, Ayca Ozdogan, Ismail Saglam, No. 1123 

• Labor Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing

     Serdar Kabaca, No. 1122  

• Litigation and Settlement under Judicial Agency

     Levent Koçkesen, Murat Usman,  No. 1121 

• Is Leisure a Normal Good? Evidence from the European Parliament     

     Naci Mocan, Duha T. Altindag, No: 1120

• Further Evidence on Defence Spending and Economic Growth in NATO Countries 

     Alper Ozun, Erman Erbaykal, No. 1119  

• Comparative Essay on Returns to Education in Palestine and Turkey

     Aysit Tansel, Yousef Daoud, No. 1118 

• Real Interest Parity: A Note on Asian Countries Using Panel Stationarity Tests

     Mark J. Holmes, Jesús Otero, Theodore Panagiotidis, No. 1117 

• An Economic Analysis of Tobacco Control Policies in Turkey 

     Selin Arslanhan, Asena Caner, Kerem Helvacioglu, Ismail Saglam, Tuncay Teksoz, No. 1116

• A Different View to Fiscal Theory of Price Level: MLSTAR and MLP Models (in Turkish)

     Melike Bildirici, Özgür Ersin, No. 1115

• Fiscal Decentralization, Redistribution and Growth

     Bilin Neyapti, Zeynep Burcu Bulut-Cevik, No. 1114 

• Search Frictions and the Labor Wedge

     Andrea Pescatori, Murat Tasci, No. 1113 

• An Analysis of Political and Institutional Power Dispersion: The Case of Turkey 

     Ibrahim Tutar, Aysit Tansel, No. 1112

• Review of "Emerging Markets Resilience and Growth Amid Global Turmoil by M. Ayhan Kose and Eswar S. Prasad"

     C. Bora Durdu, No. 1111

• Emerging Market Business Cycles Revisited: Learning about the Trend

     Emine Boz, Christian Daude, C. Bora Durdu, No. 1110

• Institutions and Business Cycles 

     Sumru Altug, Mustafa Emin, Bilin Neyapti, No. 1109

• Banking Geography and Cross-Fertilization in the Productivity Growth of US Commercial Banks 

     Dogan Tirtiroglu, A. Basak Tanyeri, Ercan Tirtiroglu, Kenneth N. Daniels, No. 1108

• The dependence of health insurance availability on years left before Medicare 

     Esra Eren Bayindir, Mehmet Yigit Gurdal, Ismail Saglam, No. 1107

• Review of “This Time is Different: Eight Centuries of Financial Folly by Carmen M. Reinhart and Kenneth S. Rogoff”

     M. Ayhan Kose, No. 1106 

• Subprime Consumer Credit Demand: Evidence from a Lender's Pricing Experiment

     Sule Alan,  Ruxandra Dumitrescu, Gyongyi Loranth, No. 1105 

• The Effect of Information on Gender Differences in Competitiveness: Experimental Evidence

     Seda Ertac, Balazs Szentes,  No. 1104 

• Brain Drain from Turkey: Return Intentions of Skilled Migrants

      Nil Demet Güngör, Aysit Tansel, No. 1103 

• Wage Inequality and Returns to Education in Turkey: A Quantile Regression Analysis

      Aysit Tansel, Fatma Bircan, No. 1102

• Cyclical Dynamics of Industrial Production and Employment: Markov Chain-based Estimates and Test

      Sumru Altuğ, Barış Tan, Gözde Gencer, No. 1101

• The Effect of Compulsory Schooling Laws on Teenage Marriage and Births in Turkey 

      Murat G. Kırdar, Meltem Dayıoğlu Tayfur, İsmet Koç, No. 1035

• Why a Diversified Portfolio Should Include African Assets

      Paul Alagidede, Theodore Panagiotidis, Xu Zhang, No. 1034

• Exchange-rate Pass-through to Import Prices: Nonlinearities and Exchange Rate and Inflationary Regimes

     Rehim Kılıç, No. 1033 

• Public Housing Units vs. Housing Vouchers: Accessibility, Local Public Goods, and Welfare

     Charles Ka Yui Leung, Sinan Sarpca, Kuzey Yilmaz, No. 1032

• Competitive Equilibria in Decentralized Matching with Incomplete Information

      Alp E. Atakan, No. 1031

• Efficient Dynamic Matching with Costly Search

      Alp E. Atakan, No. 1030

• The Labor Market Consequences of Internal Migration in Turkey

      Ali Berker, No. 1029

• Deciding to Decide: Gender, Leadership and Risk-Taking in Groups

      Seda Ertac, Mehmet Y. Gurdal, No. 1028

• Can Turkish Recessions Be Predicted?

      Adrian Pagan, No. 1027

• Social Image in Public Goods Provision with Real Effort

      Emel Filiz-Ozbay, Erkut Y. Ozbay, No. 1026

• Does the Conditional CAPM Work? Evidence from the Istanbul Stock Exchange

      Atakan Yalçın, Nuri Erşahin, No. 1025

• Economic Crises and Unemployment: Success Stories and Policy Options (in Turkish)

      Sumru Öz, No. 1024 

• Taking Stock: The Customs Union between Turkey and the EU Fifteen Years Later

      Kamil Yılmaz, No. 1023

• Can Common Stocks Provide A Hedge Against Inflation? Evidence from African Countries

      Paul Alagidede, Theodore Panagiotidis, No. 1022 

• Rhetoric in Legislative Bargaining with Asymmetric Information

      Ying Chen and Hülya Eraslan, No. 1021

• Global Links and Local Bonds: The Role of Ownership and Size in Productivity Growth

      Erol Taymaz, Ebru Voyvoda, Kamil Yılmaz, No. 1020  

• Effects of Expectations on the Economy: An MS-VAR Approach (in Turkish)  

      Melike Bildirici and Ümit Bozoklu, No. 1019 

• Purchasing Power Parity and the European Single Currency: Some New Evidence 

      Maria Christidou and Theodore Panagiotidis, No. 1018

• The Effects of Social Security Taxes and Minimum Wages on Employment: Evidence from Turkey

      Kerry Papps, No. 1017   

• Joblessness and Perceptions about the Effectiveness of Democracy

      Duha Altındağ and Naci Mocan,  No. 1016 

• Urban Poverty and Support for Islamist Terror: Survey Results of Muslims in Fourteen Countries

      Michael Mousseau, No. 1015

• Business Cycle Dynamics in the CEE Countries: A Political Economy Approach

      Müge Adalet and Sumru Öz, No. 1014 

• Global Crisis, National Responses: The Political Economy of Turkish Exceptionalism

      Ziya Öniş, Ali Burak Güven, No. 1013   

• Modeling Institutional Evolution

      Bilin Neyaptı, No.1012

• The Global Financial Crisis: How Similar? How Different? How Costly?

• Source Country Characteristics and Immigrants’ Migration Duration and Saving Decisions

• Business Cycles Around the Globe: A Regime Switching Approach

     Sumru Altuğ, Melike Bildirici, No. 1009

• Para Politikası Beklentilerinin Sermaye Piyasalarının Üzerindeki Etkisi

     Selva Demiralp, Kamil Yılmaz, No. 1008 

• Auction Design and the Success of National 3G Spectrum Auctions

     Gary Madden, Ismail Sağlam, Aaron Morey, No. 1007

• Deep Financial Integration and Volatility 

      Şebnem Kalemli-Özcan, Bent E. Sørensen,  Vadym Volosovych, No. 1006 

• Financial Regulation, Integration and Synchronization of Economic Activity 

     Şebnem Kalemli-Özcan, Elias Papaioannou, José Luis Peydró, No. 1005

• Family Control and Financing Decisions

      Ettore Crocci, John Doukas, Halit Gönenç, No. 1004

• Parameter Estimation in Nonlinear AR–GARCH Models 

      Mika Meitz, Pentti Saikkonen, No.1003

• A Note on the Geometric Ergodicity of a Nonlinear AR–ARCH Model

     Mika Meitz, Pentti Saikkonen, No.1002

• Better to Give than to Receive: Predictive Directional Measurement of Volatility Spillovers

      Francis X. Diebold, Kamil Yılmaz, No. 1001

• Asymmetric Response to Monetary Policy Surprises at the Long-End of the Yield Curve

     Selva Demiralp, Kamil Yılmaz, No. 0914

• Intergenerational Effects of Trade Liberalization

      Erhan Artuç, No. 0913

• Provision of Liquidity through the Primary Credit Facility during the Financial Crisis: A Structural Analysis

      Erhan Artuç, Selva Demiralp, No. 0912

• Were Universal Banks More Vulnerable to Banking Failures? Evidence From the 1931 German Banking Crisis

      Müge Adalet, No. 0911

• The Effect of Financial Structure on Crises: Universal Banking in Interwar Europe

      Müge Adalet, No. 0910

• The Intertemporal Relation between Expected Return and Risk on Currency

      Turan Bali, Kamil Yılmaz, No. 0909

• Strategic Effects of Incomplete and Renegotiation-Proof Contracts

      Emanuele Gerratana, Levent Koçkesen, No. 0908

• Return and Volatility Spillovers among the East Asian Equity Markets

      Kamil Yılmaz, No. 0907

• Money and the Transmisson of Monetary Policy 

      Seth Carpenter, Selva Demiralp, No. 0906

• The Emergence of the Regulatory State: The Political Economy of Turkish Banking Reforms in the Age of Post-Washington Consensus

      Caner Bakır, Ziya Öniş, No. 0905

• Turkey's Recent Trade and Foreign Direct Investment Performance

     Ümit İzmen, Kamil Yılmaz, No. 0902

• Maturity, Indebtedness, and Default Risk

     Satyajit Chatterjee, Burcu Eyigüngör, No. 0901 

• Temporary Star or Emerging Tiger? Turkey's Recent Economic Performance in a Global Setting

      Ziya Öniş, İsmail Emre Bayram, No. 0805

• Restriction on Stating Preferences in College Admissions in Turkey

      Kadir Doğan, Tolga Yuret, No. 0804

• Delegation with Incomplete and Renegotiable Contracts

      Emanuele Gerratana, Levent Koçkesen, No. 0803

• Monetary Policy Surprises and the Expectations Hypothesis at the Short End of the Yield Curve

     Selva Demiralp, No. 0802  

• Integration with the Global Economy: The Case of Turkish Automobile and Consumer Electronics Industries

     Erol Taymaz, Kamil Yılmaz, No. 0801

• Money in the Monetary Transmission Mechanism: An Analysis for Turkey (in Turkish)

• Macroeconomic Volatility and Stock Market Volatility, World-Wide

• Games with Externalities and Delegation to a Common Agent  

     Emanuele Gerratana, No.  0710 

• School Choice: Traditional Mechanisms and Extending the Poor's Ability to Choose  

• Political Risk and Irreversible Investment 

• History Matters for the Export Decision: Plant Level Evidence from Turkish Manufacturing Industry  

• Measuring Financial Asset Return and Volatility Spillovers, with Application to Global Equity Markets 

• Productivity Response to Reduction in Trade Barriers: Evidence from Turkish Manufacturing

• Delay and Dynamics in Labor Market Adjustments: Simulation Results