Kamil Yılmaz

Professor of Economics 

Koç University 

Rumelifeneri Yolu, Sariyer, Istanbul 34450, Turkey
Phone: 90-212 338 1458, Fax: 90-212 338 1653
e-mail: kyilmaz@ku.edu.tr
 
 

 

 

 

 

 

Curriculum vitae

 

Research                            

Financial and Economic Connectedness

   New Blog: Financial Connectedness

bullet Germany should follow in the footsteps of China (Voxeu.org article)
bullet Major European Banks are connected in a state of high volatility  (Voxeu.org article: updated graphs can be viewed at http://www.financialconnectedness.org)
bullet Latest Diebold-Yilmaz International Business Cycle Connectedness Index (Tusiad-Koç University Economic Research Forum) 
bullet Latest Diebold-Yilmaz Global Equity Market Connectedness Index (Tusiad-Koç University Economic Research Forum)

working papers

bullet “On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms,” NBER Working Paper 17490 (with Francis X. Diebold) October 2011.
bullet “International Business Cycle Spillovers,” Center for Economics and Policy Research (CEPR), Discussion Paper Series, 7966 (August 2010).
bullet “Global Links and Local Bonds The Role of Ownership and Size in Productivity Growth,” TUSIAD-Koç University Economic Research Forum, WP 1020, (with Erol Taymaz and Ebru Voyvoda) June 2010.
bullet “Siyasi Elitler, Siyasi Partiler Yasası ve Ekonomik İstikrar,”  Koç University, mimeo, Eylül 2009.
bullet “Türkiye İmalat Sanayiinde Yapısal Dönüşüm ve Teknolojik Değişme Dinamikleri,” ERC Working Papers 0804, ERC - Economic Research Center, Middle East Technical University, (with E. Taymaz and E. Voyvoda) June 2008. 
bullet “Integration with the Global Economy: The Case of Turkish Automobile and Consumer Electronics Industries,” TUSIAD-Koç University Economic Research Forum (ERF) Working Paper No. 0801 (with E. Taymaz), February 2008.

journal articles

bullet “Asymmetric Response to Monetary Policy Surprises at the Long-End of the Yield Curve,” Journal of Macroeconomics, Forthcoming. (with S. Demiralp).
bullet “Better to Give than to Receive: Forecast-Based Measurement of Volatility Spillovers,” International Journal of Forecasting, vol. 28, issue 1, pp. 57-66, January-March 2012. (with F. X. Diebold).
bullet “Taking Stock: The Customs Union between Turkey and the EU Fifteen Years Later,” South European Society and Politics, vol. 16, Issue 2, pp. 235-249, June 2011.
bullet “Para Politikası Beklentilerinin Sermaye Piyasaları Üzerindeki Etkisi,” (The Impact of Monetary Policy Expectations on Financial Markets), İktisat, İşletme ve Finans, vol. 25, No. 296, 9-31, Nov. 2010. (with S. Demiralp).
bullet “Return and Volatility Spillovers among the East Asian Equity Markets,” Journal of Asian Economics, Vol 21, No. 3, 304-313, June 2010.
bullet “Efectos Errame en Los Mercados de Valores del Continente Americano” (Equity Market Spillovers in the Americas), Journal Economia Chilena (The Chilean Economy), The Bank of Chile, vol. 12(2), pp. 55-65, August 2009. (with F. X. Diebold).
bullet “Productivity Response to Reduction in Trade Barriers: Evidence From Turkish Manufacturing Plants,”  Review of World Economics, Vol. 145(2), pp. 339-360, July 2009. (with S. Ozler).
bullet “History Matters for the Export Decision:  Evidence from Turkish Manufacturing Industry,”  World Development, Vol. 37(2), pp. 479-488, February 2009. (with S. Ozler and E. Taymaz).
bullet “Measuring Financial Asset Return and Volatility Spillovers, with Application to Global Equity Markets,” Economic Journal, Vol. 119, pp. 158-171, January 2009. (with F. X. Diebold).
bullet                      For the weekly-updated Diebold-Yilmaz Global Equity Market Return and Volatility Spillover Indices: http://data.economicresearchforum.org/erf/SpillOverIndex.aspx
bullet “Trade Orientation and Productivity: Turkish Manufacturing Industry Before and After the Customs Union,” Journal of International Trade and Diplomacy, Vol. 1(1), Spring 2007. (with E. Taymaz).
bullet “How Much Should the Primary Commodity Exports be Taxed? Nash and Stackelberg Equilibria in the Global Cocoa Market,” Journal of International Trade and Economic Development, Vol 15(1), pp. 1-16, March 2006
bullet “Volatility and Contagion: Evidence from the Istanbul Stock Exchange,"  Economic Systems, Vol. 28, No. 4, pp. 353-367, December 2004. (with E. Alper)
bullet “Martingale Property of Exchange Rates and Central Bank Interventions,” Journal of Business and Economic Statistics, Vol. 21, No. 3, pp. 383-395, July 2003
bullet “Imported Machinery for Export Competitiveness,”  World Bank Economic Review, Vol. 16, No. 1, pp. 23-48, 2002. (with A. Mody)
bullet “Markov Chain Test for Time Dependence and Homogeneity: An Analytical and Empirical Evaluation,” European Journal of Operations Research, Vol.137(3), pp. 524-543, 2002. (with B. Tan )
bullet “Yüksek Enflasyon Sürecinde Siyasi Elitlerin Rolü: Arjantin, Brezilya, İsrail ve Türkiye Deneyimlerinin Karşılaştırmalı Analizi,” (“Political Elites and the Delay in Stabilization,”)  İşletme ve Finans, No. 183, June 2001
bullet “Optimal Export Taxes in a Multicountry Framework,” Journal of Development Economics, Vol. 60, pp. 439-465, December 1999
bullet “Is There Persistence in Manufacturing Export Growth? Evidence From Newly Industrializing Countries,” Journal of Development Economics, Vol. 53, pp. 447-470, December 1997. (with A. Mody)
bullet “Privatization and Stock Market Efficiency: The British Experience,” Scottish Journal of Political Economy, Vol. 44, No.2, 113-133, May 1997. (with A. Hayri)
bullet “On Cointegration and Exchange Rate Dynamics,” Journal of Finance, Vol. 49, No.2, pp. 727-735, June 1994. (with F. X. Diebold and J. Gardeazabal)

articles in edited volume

bullet “The Intertemporal Relation Between Expected Return and Risk on Currency,” in C.F. Lee (Ed.), Handbook of Financial Econometrics and Statistics, Springer Verlag, Forthcoming, 2012. (with T. G. Bali)
bullet “Turkish Manufacturing Industry: Policies, Performance and Challenges,” M. Heper and S. Sayari (eds.), Routledge Handbook of Modern Turkey, 2012, Forthcoming.
bullet “Equity Market Spillovers in the Americas,” in Financial Stability, Monetary Policy and Central Banking. Santiago: Bank of Chile, 2010. (with F.X. Diebold)
bullet “Turkey’s Recent Trade and Foreign Direct Investment Performance,” (with U. Izmen), In Z. Onis and F. Senses (eds.), Turkey and the Global Economy, Routledge, 2009.
bullet “Macroeconomic Volatility and Stock Market Volatility, World-Wide,” (with F. X. Diebold), In T. Bollerslev, J. Russell and M. Watson (Eds.) , Volatility and Time Series Econometrics: Essays in Honour of Robert F. Engle, Oxford University Press, Oxford, 97-116.
bullet “Talous EU-jäsenyyden kynnyksellä,” (Turkish Economy Toward EU Membership), in Anu Leinonen, Tuula Kojo, Sampsa Peltonen, Mervi Nousiainen & Lauri Tainio (eds), Turkki - Euroopan rajalla?, pp.201-221, Helsinki: Gaudeamus Helsinki University Press, November 2007. (with N. B. Gultekin)
bullet “Turkey’s Foreign Direct Investment Challenges: Competition, Rule of Law and and the EU Accession,” , in Togan, S., ed. Turkey: Economic Reform and Accession to the European Union, Oxford University Press, June 2005. (with M. Dutz and M. Us)
bullet “The Turkish Economy before the EU Accession Talks,” in ed. M. Lake, The EU and Turkey: A Glittering Prize or a Millstone?, The Federal Trust for Education and Research, London, UK, June 2005. (with N. B. Gültekin)
bullet “Does Trade Liberalization Improve Productivity?  Plant level Evidence from Turkish Manufacturing Industry," 2003,in Regional Development: Reality or Myth? Selected Papers from the Ninth ERF Annual Conference.  (with Ş. Özler)
bullet “Domestic Needs for Foreign Finance and Exchange Rate Regime Choice in Developing Countries with Special Reference to the Turkish Experience,” Turkish Studies, 2003. (with E. Alper)
bullet “Market Development and Efficiency in Emerging Stock Markets,” Istanbul Stock Exchange Finance Award Series, 2002
bullet “Stock Return Volatility in Emerging Markets,” Boğaziçi Journal: Review of Social, Economic and Administrative Studies, Vol. 14, No. 1, pp. 45-60, 2000
bullet “Asset Returns, Inflation and Real Activity: The Case of Mexico and Turkey,”  Boğaziçi Journal: Review of Social, Economic and Administrative Studies, Vol. 12, No.1, October 1998. (with S. Altuğ)

articles in edited volume, in turkish

bullet “Türk Telekomünikasyon Sektöründe Reform: Özelleştirme, Düzenleme ve Serbestleşme,” (Reform in the Turkish telecommunications Sector: Privatization, Regulation, and Liberalization) in Atiyas, İzak, (Ed.)., Devletin Düzenleyici Rolü (State and Regulation), Turkish Economic and Social Research Foundation (TESEV) Publication, August 2000
bullet "Uluslararası Sermaye Akışı ve Yükselen Sermaye Piyasalarında Etkinlik," (International Capital Movements and Emerging Stock Market Efficiency) IV. National Econometricsand Statistics Symposium Proceedings, May 2000
bullet “Bütçe Açığı Finansmanı” (Financing the Budget Deficit);  Ortalamaya Dönme (Mean-reversion);  Hiperenflasyon (Hyperinflation);  İstikrar Politikaları (Stabilization Policy);   Gelirler Politikası (Incomes Policy), In Para ve Finans Ansiklopedisi (Encylopedia of Monetary Economics and Finance), (edited by Deniz Gökçe), Creative Yayıncılık, Istanbul, 1996
bullet “İngiliz Özelleştirme Programı ve Londra Menkul Kıymetler Borsası Üzerindeki Etkileri,” in Turan, İlter, ed., Özelleştirme Uluslararası Sempozyumu Tebliğleri, (Proceedings of the International Symposiumon Privatization),November 1995

books and monographs, in turkish

bullet Türkiye için Doğrudan Yabancı Yatırım Stratejisi’ne Doğru, (Towards a Foreign Direct Investment Strategy for Turkey),  in Turkish, YASED (International Investors’ Association of Turkey) Publication, forthcoming, February 2007
bullet Türkiye’de Büyüme Perspektifleri: Makroekonomik Çerçeve, Dinamikler, Strateji, (Growth Perspectives in Turkey: Macroeconomic Framework, Dynamics and the Strategy), in Turkish, , TÜSİAD (Turkish Industrialists' and Businessmen's Association) Publication, June 2005. (with A. Filiztekin and U. İzmen)
bullet Enflasyon ve Büyüme Dinamikleri: Gelişmekte Olan Ülke Deneyimleri Işığında Türkiye Analizi, (Inflation and Growth Dynamics: An Analysis of Turkey in the light of Developing Country Experiences), in Turkish, TÜSİAD (Turkish Industrialists' and Businessmen's Association) Publication, Dec. 2002. (with C. Akçay and E. Alper)
bullet İhracatın Görünümü, 1996-97, (An Overview of Turkish Exports), in Turkish, Turkish Association of Exporters (TIM) Publication, April 1998
bullet Para Kurulu: Nedir, Ne Zaman Gerekir?; (Currency Board: Functions and Operation),  in Turkish, Turkish Economic and Social Research Foundation (TESEV) Publication, May 1996. (with N. B. Gültekin)