How Costly Are Borrowing Costs?: An Analysis of Alternative Fiscal Policies During CrisesMacroeconomic Dynamics, 21, 5, (2017), 1141-1157.

Credit Decomposition and Business Cycles in Emerging Market Economies (with Berrak Bahadir), Journal of International Economics, 103, (2016), 250-262.

The State of Property Development in Turkey: Facts and Comparisons, (with Seda Demiralp and Selva Demiralp), New Perspectives on Turkey, 55, (2016), 85-106.

The Relationship between Sovereign Spreads and International Reserves: Does the Exchange Rate Regime Matter?, Emerging Markets Finance and Trade, 52, 3, (2016), 658-673.

Fiscal Uncertainty and Currency Crises, Review of Development Economics, 19, 4, (2015), 957-970.

Real Exchange Rate Volatility and Business Cycles in Emerging Market Economies (with Zeren Tatar Taşpınar), Economics Letters, 134, (2015), 127-129.

Debt Denomination and Default Risk in Emerging MarketsMacroeconomic Dynamics, 17, 5, (2013), 1070-1095.

Exchange Rate Policy and Sovereign Spreads in Emerging Market EconomiesReview of International Economics, 19, 4, (2011), 649-663 (Appendix).

Working Papers

Transmission of Household and Business Credit Shocks in Emerging Markets: The Role of Real Estate (with Berrak Bahadir)

The Effect of US Unconventional Monetary Policies on Bank Lending in Emerging Markets: Evidence from Turkey (with Tumer KapanSteven Ongena and Cihan Yalçın)

Model-Based Estimation of Sovereign Default Risk (with Munechika Katayama and Junko Koeda )