• Lecturer, University of Liverpool Management School, 2021-present
  • Senior Economist, Bank for International Settlements (BIS), Monetary and Economic Department, Emerging Markets Group, 2015-2021
  • Deputy Executive Director, Research and Monetary Policy Department (Central Bank of Turkey), 2012-2015
  • Economist, Central Bank of Turkey, 2008-2012


  • Ph.D. Economics, University of Rochester, 2007
  • M.A. Economics, University of Rochester, 2003
  • M.A. Economics, Bilkent University (Turkey), 2001
  • B.S. Chemistry, Bilkent University (Turkey) , 1999      

Academic Publications   

  • “Price Search, Consumption Inequality and Expenditure Inequality over the Life Cycle”, with Temel Taskin and Bulent Guler, International Economic Review, (2021).
  • “Trend Shocks, Non-tradables and Real Exchange Rates” with Cagri Akkoyun and Mustafa Kilinc, Journal of International Money and Finance, (2017)
  • “The Joint Dynamics of House Prices and Foreclosures”, with Bulent Guler and Temel Taskin, Journal of Money Credit and Banking, (2015)
  • “Expectation Errors, Uncertainty, and Economic Activity” with Aslihan Atabek, Timur Hulagu and Saygin Sahinoz, Oxford Economic Papers, (2015)
  • “Global Imbalances, Current Account Rebalancing and Exchange Rate Adjustments”, with Mustafa Kılınç and İbrahim Turhan, Journal of Policy Modeling, (2015)
  • “Anticipated vs. unanticipated house price movements and transaction volume”, with Birol Kanık, Bülent Köksal, Journal of Housing Economics, ( 2015) 
  •  “Interest Rate Fluctuations and Equilibrium in the Housing Market”, B.E. Journal of Macroeconomics, (2014)
  •  “Housing Prices and Transaction Volume”, with Cagri Akkoyun and Birol Kanik, Journal of Housing Economics, ( 2013)
  • “Quality Growth versus Inflation in Turkey”, with Evren Ceritoglu, Emerging Markets Finance and Trade, (2013)

Policy Publications

  • “The fiscal response to the Covid-19 crisis in advanced and emerging market economies” with Enrique Alberola-Ila , Gong Cheng and Richhild Moessner BIS Bulletin  |  No 23 Jun 2020
  • “Central bank bond purchases in emerging market economies” with Mathias Drehmann and Boris Hofmann BIS Bulletin  |  No 20 Jun 2020
  • “The size of foreign exchange reserves” with Carlos Cantú BIS Papers  |  No 10411 Jul 2019
  • “Globalisation and deglobalisation in emerging market economies: facts and trends” with Juan Contreras , Nikhil Patel and Chang Shu BIS Papers  |  No 100
  • “How has globalisation affected emerging market economies?” with Juan Contreras , Nikhil Patel and Chang Shu BIS Papers  |  No 10022 Nov 2017
  • “Macroprudential frameworks: implementation and effectiveness” with Christian Upper BIS Papers  |  No 9428 Feb 2017
  • “The inflation process” with Martina Jašová and Előd Takáts BIS Papers  |  No 89

Working Papers

  • “Unintended Consequences of Unemployment Insurance Benefits: The Role of Banks”, with Ahmet Degerli and Gazi Kabas (revision requested from Management Science)
  • “Credit Supply, Housing Demand and Boom-Bust Cycles”, with Bulent Guler and Burhanettin Kuruscu (revision requested from Aej: Macro)

Work in Progress

  • “Unemployment Insurance and Macro-Financial (In)Stability” with Ahmet Degerli, Bulent Guler, Gazi Kabas, and Burhanettin Kuruscu
  • “Monetary Policy Transmission with Adjustable and Fixed Rate Mortgages: The Role of Credit Supply” with Fatih Altunok, and Steven Ongena
  • “Macroprudential Policy Evaluation” with Bulent Guler and Burhanettin Kuruscu