Economic fluctuations and growth, international finance and macroeconomics, productivity, innovation, and entrepreneurship. Stockton, peterson institute for international economics, chairs the first panel of the conference making sense of the productivity slowdown, held at the institute on november 16, 2015. Conference held june 2021, 2008 published in april 2009 by university of chicago press. Sebnem kalemliozcan, bent sorensen, sevcan yesiltas bibliographic info working paper version. The eighth economist to be featured is sebnem kalemliozcan, neil moskowitz endowed professor of economics at university of maryland. Publications book chapters misallocation, property rights, and access to finance evidence from within and across africa, with bent sorensen nber volume of african success stories, forthcoming. We explore whether countries with better financial systems can exploit fdi more efficiently. Firms, with sebnem kalemli ozcan, henry hyatt, and veronika penciakova. Sebnem kalemli ozcan will be visiting our programs international macroeconomics course econ 683.
Turkish, usa married with 2 children academic appointments spring 2012 visiting professor of economics, harvard university 2011 present visiting professor of economics, koc university. Sebnem kalemliozcan centre for international governance. Working papers articles chapters books working papers. Candidates are evaluated based on their research records and their capacity to. Oct 23, 2019 first up, sebnem kalemli ozcan she is a professor of economics and finance at the university of maryland. Some scholars argue that the free movement of capital across borders enhances welfare. View sebnem kalemliozcans profile on linkedin, the worlds largest professional community. How to construct nationally representative firm level data from the orbis global database. E32,f15,f36,g21,o16 abstract we analyze the impact of financial globalization on business cycle synchronization utilizing a. Sebnem kalemli ozcan is a research associate in the nbers program on international finance and macroeconomics and a professor of economics at university of maryland, college park. The role of markets versus sovereigns, scandinavian journal of economics, wiley blackwell, vol.
Capital allocation and productivity in south europe. Sep 17, 2015 sebnem kalemliozcan is a neil moskowitz endowed professor of economics at the university of maryland, college park. Laura alfaro, sebnem kalemli ozcan and vadym volosovych no 11696, nber working papers from national bureau of economic research, inc. Crossborder capital flows, fluctuations and growth by. What hinders investment in the aftermath of financial crises. Essential parts of the paper were prepared while sebnem kalemli. Firstevidence from population based surveys, with chinhui juhn and belgi turan. Pdf what lies beneath the euros effect on financial integration. Sebnem kalemliozcan is the neil moskowitz endowed professor of economics at the university of maryland, college park. Sebnem kalemli research websites umd econ university of. Facebook gives people the power to share and makes the world more open and connected. Laura alfaro, sebnem kalemliozcan and vadym volosovych. Leverage over the lifecycle, firm growth, and shock. Sebnem kalemli ozcan, carmen reinhart, and kenneth rogoff, organizers.
Sebnem kalemliozcan bank for international settlements. Kalemli ozcan, sebnem and david weil, mortality change, the uncertainty effect, and retirement, nber working paper 8742, january 2002. Leverage over the lifecycle and implications for firm growth and shock responsiveness emin dinlersoz, henry hyatt, sebnem kalemliozcan, veronika penciakova 06 january 2019 there is an extensive literature studying the growth and employment dynamics of us firms over their lifecycles e. Professor kalemliozcan has published extensively in. Sebnem kalemli ozcan is a neil moskowitz professor of economics. Starr professor of economics and the director of the nsenyu stern initiative on the study of indian capital markets. Financial integration and economic welfare, with bent sorensen. Turkish, usa married with 2 children academic appointments spring 2012 visiting professor of economics, harvard university 2011 present. She is also a research fellow at the center for economic policy research. Leverage across firms, banks, and countries sciencedirect. The ones marked may be different from the article in the profile.
Sebnem kalemliozcan is a neil moskowitz professor of economics. New nber affiliates are appointed through a highly competitive process that begins with a call for nominations in january. First up, sebnem kalemliozcan she is a professor of economics and finance at the university of maryland. Misallocation, property rights, and access to finance. This is something i think a lot of other people are also scared. The theoretical explanations include crosscountry differences in. Weil, david, comment on aging, fiscal policy, and social insurance. Department of economics university of maryland tydings hall 4118d college park, md 207427211. We explore whether countries with better financial systems can.
Sebnem kalemli ozcan is neil moskowitz endowed professor of economics at university of maryland, college park. Sebnem kalemliozcan of university of maryland, college park, md umd. Regional and international evidence, working papers 9916, brown university, department of economics. Kalemli ozcan is the neil moskowitz endowed professor of economics at the university of maryland in college park. Kalemliozcan, sebnem, carmen reinhart, and kenneth rogoff. New report evaluating imf advice to central banks event piie. Capital controls and capital flows in emerging economies. Her work has also appeared in many invited book volumes, policy outlets, and featured in world bank. Firms with higher leverage or firms that borrowed more decreased investment more, especially when linked to weak banks. The eighth economist to be featured is sebnem kalemli ozcan, neil moskowitz endowed professor of economics at university of maryland, college park and cepr research fellow in the imf and mg programme areas kalemli ozcan has held positions at the european central bank and the world bank and is currently a senior policy advisor at the international monetary fund.
Capital allocation and productivity in south europe gita gopinath, sebnem kalemli ozcan, loukas karabarbounis, carolina villegassanchez. Financial regulation, financial globalization and the. Mortality change, the uncertainty effect, and retirement with david n. This cited by count includes citations to the following articles in scholar. She is a research associate at the national bureau of economic research nber and a research fellow at the center for economic policy research cepr. Kalemliozcan, sebnem econ l department of economics l. How does foreign direct investment promote economic growth. The efficiency of human capital allocations in developing countries, journal of development economics, 2014, 108. Sorensen, carolina villegassanchez, vadym volosovych, sevcan yesiltas.
We examine the empirical role of different explanations for the lack of capital flows from rich to poor countriesthe lucas paradox. Selin sayek, department of economics, bilkent university, bilkent ankara. By sebnem kalemliozcan, university of maryland, center for economics and business. We quantify the effects of lending and balance sheet channels on corporate investment during large devaluations.
Jeffrey frankel and christopher pissarides, organizers. Join facebook to connect with sebnem kalemliozcan and others you may know. The rise and fall of unions in the united states, with jeremy greenwood, journal of monetary economics, october 2016, vol 83, 129146. Decomposing the response of consumption to house prices, working papers 196, federal reserve bank of philadelphia, revised 22 jan 2019. Books recent books earlier books by decade browse books by series. Why doesnt capital flow from rich to poor countries. Financial regulation, financial globalization, and the. Sebnem kalemliozcan professor of economics and finance.
We then examine the determinants of capital flows and capital flows volatility during. Kalemliozcan is the neil moskowitz endowed professor of economics at the university of maryland in college park. Kalemli ozcan, gopinath, karabarbounis, and villegassanchez use data for manufacturing firms in spain to document a significant increase in the dispersion of the return to capital across firms, a stable dispersion of the return to labor across firms, and a significant increase in productivity losses from misallocation over time. Ozcan was visiting the european central bank ecb as a 2008 duisenberg fellow. The mit press is a leading publisher of books and journals at the intersection of science, technology, and the arts. In capital controls and capital flows in emerging economies, an esteemed group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations. Capital allocation and productivity in south europe gita gopinath, sebnem kalemliozcan, loukas karabarbounis, carolina villegassanchez. Kalemliozcan, sebnem and david weil, mortality change, the uncertainty effect, and retirement, nber working paper 8742, january 2002. In this paper, we examine the various links among foreign direct investment fdi, financial markets, and economic growth.
No 11696, nber working papers from national bureau of economic research, inc abstract. About bis the biss mission is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks. What is the extent of international financial integration, and how does such integration affect. Ayeybn 201 nymali misallocation, property rights, and access. Quantifying productivity gains from foreign investment. The firmlevel data is also used in two other studies involving two of the authors of this article. Sebnem kalemliozcan is neil moskowitz endowed professor of economics at. Conference held october 1819, 20 published in february 2016 by wiley, journal of the european economic association 141. Review of economics and statistics, november 2010, 924, 769783.
She is a research associate at the national bureau of economic research and a research fellow at the center for economic policy research. Sebnem kalemliozcan, department of economics, university of houston, houston, texas, 77204, sebnem. Currency risk, legal harmonization or trade, with elias papaioannou and jose luis peydro. Sebnem kalemli ozcan is the neil moskowitz endowed professor of economics at the university of maryland, college park. The chapters include a study of capitalaccount policies that are sometimes used to peg the real exchange rate. She thanks the economists at the bank for providing a stimulating research environment. Her work has also appeared in many invited book volumes, policy outlets, and. This paper was previously circulated under the title financial integration and business cycle synchronization. Kalemliozcan, gopinath, karabarbounis, and villegassanchez use data for manufacturing firms in spain to document a significant increase in the dispersion of the return to capital across firms, a stable dispersion of the return to labor across firms, and a significant increase in productivity losses from misallocation over time. Exploring the effects of financial markets on linkages with laura alfaro, areendam chanda, sebnem kalemliozcan. By sebnem kalemli ozcan, university of maryland, center for economics and business. Crossborder capital flows, fluctuations and growth.
The distinguished international seminar on macroeconomics has met annually in europe for over thirty years. New report evaluating imf advice to central banks event. Sebnem kalemliozcan is neil moskowitz endowed professor of economics at university of maryland, college park. Debt overhang, rollover risk, and corporate investment in. We describe the patterns of international capital flows in the period 1970 2000. Capital allocation and productivity in south europe gita. Sebnem kalemliozcan will be visiting our programs international macroeconomics course econ 683. Sebnem kalemliozcan is a research associate in the nbers program on international finance and macroeconomics and a professor of economics at university of maryland, college park.
See the complete profile on linkedin and discover sebnem. Ayeybn 201 nymali misallocation, property rights, and. Florida atlantic university, department of economics. The topics covered in this years volume fall into four categories. We find that if currency crises are accompanied by banking crises, domestic exporters holding unhedged foreign currency debt decrease investment while foreign exporters with better access to credit increase investment despite their unhedged foreign currency debt.
1484 1426 484 1380 1291 1020 964 1395 410 455 1225 568 1103 1189 922 1301 161 1335 382 456 703 80 309 97 1138 1390 1454 209 867 1452 1339 145 1289 996 422