C. EMRE ALPER

BOĞAZİÇİ UNIVERSITY ● DEPARTMENT OF ECONOMICS ●

BEBEK 34342, ISTANBUL ● TURKEY

PHONE: +90 (212) 359-7646 ● FAX: +90 (212) 287-2453

E-MAIL: emre.alper@boun.edu.tr ● URL: http://www.econ.boun.edu.tr/staff/alper

EDUCATION

Georgetown University

Ph.D. Economics, August 1995

MA Economics, May 1993

Boğaziçi University, Istanbul, Turkey

BA Economics, June 1990

Kadıköy Anadolu Lisesi, Istanbul, Turkey

High School Diploma, June 1986

EMPLOYMENT

Current Position

Professor Department of Economics, Boğaziçi University, Istanbul, Turkey, April 2004 – present

Research Affiliate Center for Economics and Econometrics, Boğaziçi University, Istanbul, Turkey, September 1995 – present

Visiting Scholar Department of Economics, University of Maryland – College Park, January 2008 – present

Previous Positions

Associate Professor Department of Economics, Boğaziçi University, Istanbul, Turkey, July 1999 – March 2004

Visiting Assoc. Prof. Department of Economics, University of British Columbia, Vancouver, BC, Canada, August 2002 – August 2003

Adjunct Professor Department of Economics, Koç University, Istanbul, Turkey, September 2000 – June 2002

Assistant Professor Department of Economics, Boğaziçi University, Istanbul, Turkey, March 1996 – June 1999

Instructor Department of Economics, Boğaziçi University, Istanbul, Turkey, September 1995 – May 1999

Teaching Fellow Department of Economics, Georgetown University, Summer 1995

Teaching Assistant Department of Economics, Georgetown University, September 1990 – June 1995

Summer Intern World Bank, Washington, D.C., Summer 1994

Short-Term Consult. World Bank, Bishkek, Kyrgyzstan, Summer 1993

RESEARCH

Research Interests International Finance, Applied Time Series Analysis, Macroeconomics and Monetary Economics

Work in Progress - “Optimal fiscal and monetary policy with distorting taxes and heterogenous government spending” with B. Aruoba

- “Natural Gas Prices and Real Economic Activity in Turkey” with O. Torul

- “Forward Looking Taylor Rule Estimation for the EU Accession Countries” with O. Hatipoglu (TÜBİTAK SOBAG project #107K297)

Publications

Journal Articles - Alper, C. E., O. P. Ardic and S. Fendoglu (2009) “The economics of uncovered interest parity conditions in emerging markets,” Journal of Economic Surveys, forthcoming.

- Misirli, Ulas and  C. E. Alper (2009) “The Drivers of Expected Returns in Istanbul Stock Exchange: Fama-French Factors and Coskewness,” Applied Economics, forthcoming.

- Alper, C. E. and O. Torul (2008) “Oil Prices, Aggregate Economic Activity and Global Liquidity Conditions: Evidence from Turkey,” Economics Bulletin, Vol.17, No.4, 1-8.

- Alper, C. E., O.P. Ardic, A. Mumcu and I. Saglam (2008) “The welfare effects of government's preferences over spending and Its financing,” Economic Modelling, Vol. 25, No. 1, 1-12.

- Alper, C. E. and A. Mumcu (2007) “Interaction between Price, Quality, and Country of Origin When Estimating Automobile Demand: The Case of Turkey,” Applied Economics, Vol. 39, No. 14, 1789-1796.

- Alper, C. E., K. Kazimov and A. Akdemir (2007) “Forecasting the Term Structure of Interest Rates for Turkey: A Factor Analysis Approach,” Applied Financial Economics, Vol. 17, 77-85.

- Alper, C. E. and K. Yilmaz (2004) “Volatility and Contagion: Evidence from the Istanbul stock Exchange,” Economic Systems, Vol. 28, No. 4, 353-367.

- Alper, C. E. and S. B. Aruoba (2004) “Moving Holidays and Seasonal Adjustment: the Case of Turkey,” Review of Middle East Economics and Finance, Vol. 2, No. 3, 203-211.

- Mariano, S. R., B. N. Gultekin, S. Ozmucur, T. Shabbir and C. E. Alper (2004) “Prediction of Currency Crises: Case of Turkey,” Review of Middle East Economics and Finance, Vol. 2, No. 2, 87-107.

- Alper, C. E. and Z. Onis (2004) “The Turkish Banking System and the IMF in the Age of Capital Account Liberalization,” New Perspectives on Turkey, Vol. 30, Spring 2004, 25-55.

- Alper, C. E. and Z. Onis (2003) “Emerging Market Crises and the IMF: Rethinking the Role of the IMF in the Light of Turkey’s 2000-2001 Financial Crises,” Canadian Journal of Development Studies, Vol. 23, No. 3, 267-284.

- Alper, C. E. and Z. Onis (2003) “Financial Globalization, the Democratic Deficit and Recurrent Crises in Emerging Markets: the Turkish Experience in the Aftermath of Capital Account Liberalization,” Emerging Markets Finance and Trade, Vol. 39. No. 3, 5-26.

- Alper, C. E. (2002) “Business Cycles, Excess Volatility and Capital Flows: Evidence from Mexico and Turkey,” Russian and East European Finance and Trade, Vol. 38. No. 4, 22-54.

- Alper, C. E., M. H. Berument and N. K. Malatyali (2001) “The Impact of the Disinflation Program on the Structure of the Turkish Banking Sector,” Russian and East European Finance and Trade, Vol. 37, No. 6, 76-89.

- Alper, C. E. (2001) “The Liquidity Crisis of 2000: What Went Wrong,” Russian and East European Finance and Trade, Vol. 37, No. 6, 54-75.

- Aleskerov, F. and C. E. Alper (2000) “Clustering Approach to Some Monetary Facts: Long-run Analysis of Cross-Country Data,” Japanese Economic Review, Vol. 51, No.4, 555-567.

- Akcay, C., C. E. Alper and M. Karasulu (1997) “Currency Substitution and Exchange Rate Instability: The Case of Turkey,” European Economic Review Vol. 41, 827-835.

Articles in Edited - Alper, C. E. and O. Hatipoglu (2009) “A Comparative Perspective on the

Books Conduct of Monetary Policy in Turkey in the pre- and post-crisis period of 2001,” Onis, Z. and F. Senses (eds.) Turkey and the Global Economy: Neoliberal Restructuring and Integration in the Post-Crisis Era, Routledge: forthcoming.

- Hatipoglu, O. and C. E. Alper (2009) “Estimating Central Bank Behavior in Emerging Markets: The Case of Turkey,” Cobham, D. and G. Dibeh (eds.) Monetary Policy and Central Banking in the Middle East and North Africa, Routledge, forthcoming.

- Akcay, O. C. and C. E. Alper (2003) “Towards a Sustainable Debt Burden: Challenges Facing Turkey at the Turn of the New Millennium,” Onis, Z. and B. Rubin (eds.) The Turkish Economy in Crisis: Critical Perspectives on the 2000-2001 Crises, Routledge: 146-168. (also published in Turkish Studies, Vol. 4, No. 2, 147-169.)

- Alper, C. E. and K. Yilmaz (2003) “Domestic Needs for Foreign Finance and Exchange Rate Regime Choice in Turkey,” Onis, Z. and B. Rubin (eds.) The Turkish Economy in Crisis: Critical Perspectives on the 2000-1 Crises, Routledge: 67-91. (also published in Turkish Studies, Vol. 4, No. 2, 68-92.)

- Akcay, O. C., C. E. Alper and S. Ozmucur (2002) “Budget Deficit, Inflation, and Debt Sustainability: Evidence from Turkey (1970-2000),” Kibritcioglu, A., L. Rittenberg, and F. Selcuk (eds.), Inflation and Disinflation in Turkey, Aldershot: Ashgate Publishing Company, 77-96.

- Alper, C. E., M. H. Berument and N. K. Malatyali (2002) “The Impact of a Disinflation Program on the Structure of the Turkish Banking Sector: Evidence from 1988-1999,” Kibritcioglu, A., L. Rittenberg, and F. Selcuk (eds.), Inflation and Disinflation in Turkey, Aldershot: Ashgate, 167-182.

Articles in Domestic

Refereed Journals - Alper, C. E. and O.P. Ardic (2006) “Exhange Rate Forecasting Under Floating Exchange Rates: An Application to Turkey,” Uluslararası Ekonomi ve Dış Ticaret Politikaları 1, No. 1, 51-68.

- Alper, C. E. and B. Aruoba (2001) “Deaseasonalizing Macroeconomic Data: A Caveat to Applied Researchers in Turkey,” ISE Review, Vol. 5, No. 18, 33-52.

- Alper, C. E. and I. Saglam (2000) “An Empirical Examination of the Transmission of Financial Crises in Turkey,” Boğaziçi Journal: Review of Social, Economic and Administrative Studies, Vol. 14, No. 1, 61-76.

- Akcin, O and C. E. Alper (1999) “Consumption and Permanent Income: Evidence from Turkey,” METU Studies in Development, Vol. 26, No. 1-2, 1-23.

- Alper, C. E. (1998) “Nominal Stylized Facts of Turkish Business Cycles,” METU Studies in Development, Vol. 25, No. 2, 233-244.

- Alper, C. E. and T. Feyzioglu (1998) “Measures of Volatility and Aggregate Investment,” Bogazici Journal: Review of Social, Economic and Administrative Studies, Vol. 12, No. 2, 57-74.

- Alper, C. E. and M. Ucer (1998) “Some Observations on Turkish Inflation: A “Random Walk” Down the Past Decade,” Bogazici Journal: Review of Social, Economic and Administrative Studies, Vol. 12, No. 1, 7-38.

- Alper, C. E. (1997) “Türkiye’de Sermaye Hareketleri ve Risk Primi,” İktisat, İşletme ve Finans, Vol. 12, 52-62.

- Aleskerov, F. and C. E. Alper  (1996) “Correlation between Inflation, Money, and Output Growths: Analysis of 121 countries,” Yapi Kredi Economic Review, Vol. 7, No. 2, 3-13.

Proceedings and

Other Publications - Yilmaz, K., C. Akcay and C. E. Alper (2002) “Enflasyon ve Büyüme Dinamikleri: Gelişmekte olan Ülke Deneyimleri Işığında Türkiye Analiz, TÜSİAD, Aralık 2002, TÜSİAD-T/2002-12/341, ISBN: 975-8458-49-3

- Alper, C. E. and H. Ersel (2002) “Flow of Fund Analysis for Turkey,” in The New Developments in National Accounts, Bulutay, T. (ed.) In the Context of Strengthening the Capacity in National Accounts Project Implemented Together with UNDP and SIS, 97-119.

- Alper, C. E. and Ziya Onis (2001)  “Finansal Kureselleşme, Demokrasi Açığı ve Yükselen Piyasalarda Yaşanan Sürekli Krizler: Sermaye Hareketlerinin Liberalleşmesi Sonrasında Türkiye Deneyimi,” Doğu Batı Dergisi, Vol. 4, No. 17, 203-225.

- Alper, C. E. and R. Erzan (2001) İhracatın Görünümü 2000/2001, Türkiye İhracatçılar Meclisi, Istanbul.

- Alper, E., H. Berument and K. Malatyali (2001) “Enflasyonla Mücadele Programı ve Türk Bankacılık Sektörünün Yapısı,” Active Bankacılık ve Finans Dergisi 3, No. 17, 42-48.

- Alper, C. E. and I. Saglam (2000) “The Equilibrium Real Exchange Rate: Evidence from Turkey,” Topics in Middle Eastern and North African Economies, Vol. 2. (Online Journal available at http://gsb.luc.edu/depts/economics/meea/volume2/alper.html )

- Alper, C. E. and I. Saglam (1999) İhracatın Görünümü 97/99, Türkiye İhracatçılar Meclisi, Istanbul.

- Alper, C. E. and R. Erzan (1999) “The Equilibrium Level of the Real Exchange Rate: An Application to the Middle East,” ERF Sixth Annual Conference Proceedings, 125-150.

- Alper, C. E. (1998) “Türkiye’de Sanayi Üretim Endeksi ve Çeşitli Fiyat Serilerinin Konjonktürel Dalgalanmalarının Biçimlenmiş Özellikleri,” in Proceedings of Research Symposium ‘97, State Institute of Statistics, 181-186.

- Alper, C. E. (1996) “Türkiye’de Spekülatif Döviz Piyasası Verimliliği ve Risk Primi,” in Proceedings of Research Symposium ‘96, State Institute of Statistics, 117-122.

Dissertation - An Empirical Investigation of the Effects of Aggregate Uncertainty on Money Demand and Investment, Georgetown University, August 1995.

Conference

Presentations

- PET07, Public Economic Theory, Nashville, TN, July 2007

Presentation: “The welfare effects of government's preferences over spending and Its financing”

- ICE – TEA 2006 / International Conference on Economics – Turkish Economic Association, Ankara, Turkey, September 2006. Presentation: “Determinants of Turkish Sovereign Spreads: Fundamentals and Global Liquidity”

- 10th International Conference on Macroeconomic Analysis and International Finance, 24 May 2006, Crete, Greece. Presentation: “Determinants of Turkish Sovereign Spreads: Fundamentals and Global Liquidity”

- ASSA ’06 Meetings: Middle East Economic Association, 5-8 January 2006, Boston, USA. Presentation: “Financial Liberalization, Fiscal Prudence and Growth: Panel Evidence from 1980-2003"

- ASSA ’05 Meetings: Middle East Economic Association, 6-9 January 2005, Philadelphia, USA. Presentation: “How Important Is the US Monetary Policy in Affecting Sovereign Bond Spreads? The Case of Turkey”

- European Association of Evolutionary Political Economy ’04 Conference, 28-31 October 2004, Crete, Greece. Presentation: “The Turkish Banking System and the IMF in the Age of Capital Account Liberalization”

- Computation Management Science ‘04 Conference, 2-5 April 2004, Neuchâtel, Switzerland. Presentation: “Estimating the term premium and its implications on the real business cycles: the case of Turkey”

- ASSA ’02 Meetings: Middle East Economic Association, January 2002, Atlanta, USA. Presentation: “The Turkish Liquidity Crisis of 2000: What Went Wrong…”

- “Economic Growth in the Balkans: Factors and Impediments” International Conference Organized by the Economic Research Group of the Blue Bird Project, November 2001, Istanbul. Presentation: “The Turkish Liquidity Crisis of 2000: What Went Wrong…”

- V. Ulusal Ekonometri ve İstatistik Sempozyumu: September 2001, Çukurova University, Adana. Presentation: “Matematiksel İstatistik ve Ekonometri Eğitiminde Teori ve Uygulama Arası Gerekli Köprü: Bilgisayar Uygulamalı Basit Monte Carlo Deneyleri”

- METU International Conference on Economics V: September 2001, Ankara. Presentation: “The Impact of the Disinflation Program on the Structure of the Turkish Banking Sector” Convenor: “Public Sector Activities, Crowding-Out And Economic Growth”

- METU International Conference on Economics IV: September 2000, Ankara. Presentation: “Stylized Facts of Real Business Cycles in Mexico and Turkey” Convenor: “Deficits and Macroeconomic Adjustment Mechanism”

- ASSA ’00 Meetings: Middle East Economic Association, January 2000, Boston, USA. Presentation: “The Equilibrium Real Exchange Rate: An Application to Turkey”

- ERF Sixth Annual Conference: November 1999, Cairo, Egypt. Presentation: “The Equilibrium Level of the Real Exchange Rate: An Application to the Middle East”

- ASSET 1999 Meetings: October 1999, Tel Aviv, Israel. Presentation: “An Empirical Examination of the Transmission of Financial Crises in Turkey”

- METU International Conference on Economics III: September 1999, Ankara. Member of the Program Committee.  Presentation: “An Empirical Examination of the Transmission of Financial Crises in Turkey” Convenor: “Financial Crises And Contagion In Emerging Markets"

- ASSA ’99 Meetings: Econometric Society, January 1999, New York, USA. Presentation: “Clustering Approach to Some Monetary Facts: Long-run Analysis of Cross-Country Data”

- METU International Conference on Economics II: September 1998, Ankara. Member of the Program Committee. Presentation: “Some Observations on Turkish Inflation: A Random Walk” Down the Past Decade” Convenor: "On Some Macroeconomic Issues in the High Inflationary Environment of Turkey"

- State Institute of Statistics Research Symposium ’97, November 1997, Ankara. Presentation: “Türkiye’de Sanayi Üretim Endeksi ve Çeşitli Fiyat Serilerinin Konjonktürel Dalgalanmalarının Biçimlenmiş Özellikleri”

- ASSET ’97: October 1997, Marseilles, France. Presentation: “Correlation Between Inflation, Money and Output Growths: Analysis of 121 Countries”

- METU International Conference on Economics I: September 1997, Ankara. Presentation: “Nominal Stylized Facts of Turkish Business Cycles”

- ASSA ’97 Meetings: Middle East Economic Association, January 1997, New Orleans, USA. Presentation: “Consumption and Permanent Income: Evidence from Turkey”