In this paper, we study the interaction between self insurance and public insurance. In particular, we provide evidence on a negative correlation between unemployment insurance benefits and home production using the American Time Use Survey (ATUS) and the state-level unemployment insurance data...

In this paper, we incorporate home production into a quantitative model of unemployment and show that realistic levels of home production have a signifi- cant impact on the optimal unemployment insurance rate. Motivated by recently documented empirical facts, we augment an incomplete markets...

This paper conducts a quantitative investigation of the role of reserve requirements as a macroprudential policy tool. We build a monetary DSGE model with a banking sector in which (i) an agency problem between households and banks leads to endogenous capital constraints for banks in obtaining...

In this paper, we document the intensive and extensive margin adjustments of labor market in Turkey and US.We find that both margins are important. More interestingly, the weight of intensive margin adjustment is substantially smaller than that of the extensive margin in both countries. This is...

In this paper, we study the Beveridge curve and the matching function in Turkey. The analysis illustrates that the empirical Beveridge curve for the 2005 : M1-2013 : M2 period posits a negative relationship between unemployment and vacancies. When the sample period is divided into sub-periods...

In this paper, we discover the inclusiveness of GDP growth in Turkey over the course of the last decade. In doing so, we use a recently developed method a la Anand et al. (2013) which integrates efficiency and equity dimensions of economic growth in a single measure. We find that Turkish GDP...

The extent of interaction between international capital flows and macro-financial stability is an important and unsettled topic of debate. We contribute to this discussion by providing empirical evidence on the relationship between capital flows and domestic credit growth using a large...

In this paper, we incorporate a price search decision into an incomplete markets model and differentiate consumption from expenditure. In our model, consumers are allowed to allocate part of their time on searching for low prices which leads to an endogenous price dispersion. A plausibly...