We use network centrality measures to capture the trade partner diversification (TPD) of countries as revealed by their position in the international trade network. These measures are shown to enter long-run growth regressions positively and significantly, on top of trade openness and other...

The role of direct flights in trade costs is investigated by introducing and using a micro price data set on 49 goods across 433 international cities covering 114 countries. It is shown that having at least one direct flight reduces trade costs by about 1,400 miles in distance equivalent terms,...

This paper develops an open-economy DSGE model to analyze the effects of international trade costs on monetary policy of open economies. The implications of this micro-founded New-Keynesian model are tested on a prototype small economy that is open to international trade costs shocks, Canada....

This paper compares the productivity cycles of public and private manufacturing sectors in Turkey by using a regime shifting model applied through the multimove Gibbs-sampling approach over the quarterly period 1988Q1:2006:Q4. By considering timing of the business cycles for the sample period,...

We analyze the short-run effects of money shocks on output in the contemporary world. As our benchmark case, we visit Bernanke (1983) for the Turkish economy over the monthly period 2002M1-2006M10. We show that money shocks affect output with a lag of one month. After that, we introduce our...

Using data on the number of visitors (identified according to the census block that they reside in) at the store level, this paper investigates the welfare costs of traditional shopping for the U.S. census blocks. The investigation is based on an economic model, where individuals living in...

This paper investigates nonlinearities in the relationship between mobility and COVID-19 cases or deaths. The formal analysis is achieved by using county-level daily data from the U.S., where a difference-in-difference design is employed. Nonlinearities in the relationship between mobility and...

The impacts of production and transportation technology changes are studied in a general-equilibrium trade model with an analytical solution where agents in each location produce different varieties of a common set of goods. Wages are equalized in nominal terms across locations, with differences...

This paper estimates the slope of the (price) Phillips curve for the U.S. by using the implications of a structural vector autoregression model. The slope of the Phillips curve is measured by the ratio of cumulative impulses of inflation and unemployment, following alternative shocks. The...

This paper estimates the pass-through of different shocks into alternative U.S. prices that are important for policy makers. The results based on the implications of a structural vector autoregression model show that oil price pass-through (OPPT) into import prices and producer prices is about...