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Dive into the research topics where Mustafa Caglayan is active.

Publication


Featured researches published by Mustafa Caglayan.


Journal of International Money and Finance | 2002

Exchange Rate Effects on the Volume and Variability of Trade Flows

John T. Barkoulas; Christopher F. Baum; Mustafa Caglayan

This paper investigates the effects of exchange rate uncertainty on the volume and variability of trade flows. Employing a signal extraction framework, we show that the direction and magnitude of importers and exporters optimal trading activities depend upon the source of the uncertainty (general economic shocks, fundamental factors driving the exchange rate process, or noise in the signal of policy innovations), providing a rationale for the contradictory empirical evidence in the literature. We also show that exchange rate uncertainty emanating from general economic shocks and the fundamental factors reduces the variability of trade flows, while that related to noise in the signal of policy innovations increases variability.


Economics Letters | 2003

Nonlinear Impact of Inflation on Relative Price Variability

Mustafa Caglayan; Alpay Filiztekin

In this paper we investigate the link between inflation and relative price variability, and the impact of structural changes in the behavior of inflation using a half-a-century long disaggregated data. Employing panel data techniques to control for aggregate shocks, we show that: 1) the effect of inflation is non-neutral: relative price variability has increased in inflationary as well as deflationary periods, 2) the association between inflation and relative price variability is highly nonlinear 3) there is strong support for menu cost models, but none for signal extraction models.


Journal of Applied Econometrics | 2004

Nonlinear effects of exchange rate volatility on the volume of bilateral exports

Christopher F. Baum; Mustafa Caglayan; Neslihan Ozkan


Computing in Economics and Finance | 2000

Exchange Rate Effects on the Volume of Trade Flows: An Empirical Analysis Employing High-Frequency Data

Christopher F. Baum; Mustafa Caglayan; Neslihan Ozkan


Money Macro and Finance (MMF) Research Group Conference 2004 | 2004

Re-examining the Transmission of Monetary Policy: What More Do a Million Observations Have to Say

Christopher F. Baum; Mustafa Caglayan; Neslihan Ozkan


Archive | 2001

Relative Price Variability and Inflation: New evidence from Turkey *

Mustafa Caglayan; Alpay Filiztekin


Archive | 2017

The Impact of Uncertainty on Financial Institutions

Christopher F. Baum; Mustafa Caglayan; Bing Xu


Archive | 2005

The Impact of Macroeconomic Uncertainty onNon-Financial Firms’ Demandf or Liquidity

Christopher F. Baum; Mustafa Caglayan; Neslihan Ozkan; Oleksandr Talavera


Research Papers | 2004

Market Structure, Inflation, and Price Dispersion

Mustafa Caglayan; Alpay Filiztekin; Michael T. Rauh


Research Papers | 2003

Incompletely Informed Policymakers and Trade Policy in Oligopolistic Industries

Mustafa Caglayan; Murat Usman

Collaboration


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Christopher F. Baum

German Institute for Economic Research

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Christopher F. Baum

German Institute for Economic Research

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Michael T. Rauh

Indiana University Bloomington

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Bing Xu

Heriot-Watt University

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