This paper assesses the extent to which social assistance programs in Turkey impact the labor market behavior of those who receive benefits. Theoretically, the possible channels through which the receipt of social assistance may disincentivize work are quite clear, even if the substantial...

Against the background of continued growth disappointments, depressed inflation expectations, and declining real equilibrium interest rates, a number of central banks have implemented negative interest rate policies (NIRP) to provide additional monetary policy stimulus over the past few years....

This paper examines resource misallocation within narrow industries in Turkey. It finds that resource misallocation in Turkey is substantial. The hypothetical gain from moving to "U.S. efficiency" is 24.5 percent of manufacturing total factor productivity in 2014. The evolution of resource...

This paper quantifies global demand, supply, and uncertainty shocks and compares two major global recessions: the 2008-09 Great Recession and the COVID-19 pandemic. Two alternative approaches are used to decompose economic shocks: text mining techniques on earning call transcripts and a...