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Eylem Ersal
Associate Professor

Office Location: Timothy J Hyland Hall HH4403
Phone:
Email: kizilere@uww.edu
Department(s): Economics
Website: https://sites.google.com/a/uww.edu/kiziler/

Education:

Ph.D., Economics, Georgetown University, Washington D.C., U.S.A., 2011

M.A., Economics, Bilkent University, Ankara, Turkey, 2004

B.A. (honors), Economics, Bilkent University, Ankara, Turkey, 2002

Bio:

Eylem Ersal-Kiziler, Ph.D. is an Assistant Professor of Economics at the Department of Economics, University of Wisconsin, Whitewater. Dr. Ersal-Kiziler received her Ph.D. in Economics from Georgetown University and M.A. in Economics from Bilkent University, Turkey.

Dr. Ersal-Kiziler’s research interests are mainly in international finance and open economy macroeconomics. She has published work that examines international capital flows and current account balances in relation to permanent and transitory changes in output, mainly in advanced economies. Her most recent work focuses on the debt flows within the European Monetary Union (EMU) and the role of common single currency (euro) in shaping the geography of these flows within and to the EMU.

Dr. Ersal-Kiziler currently has work in progress on various topics such as asset pricing in housing markets and the role of expectations, time series analysis of international capital flows and impact of small and medium-sized enterprises on employment and social mobility.

At the University of Wisconsin-Whitewater, Dr. Ersal-Kiziler has been teaching International Finance (Econ 406), Intermediate Macroeconomics (Econ 302), Business Statistics (Econ 245), and Principles of Macroeconomics (Econ 202) at the undergraduate program. She also teaches Business Conditions Analysis (Econ 736) in the MBA program, and International Macroeconomics (Econ 773) in the MS Applied Economics Program. She also mentored a number of undergraduate research projects and participated in master’s thesis committees.

Dr. Ersal-Kiziler is a member of the CoBE inclusive Excellence Committee and Chancellor’s University Inclusive Excellence Committee. She is also one of the advisors of the Economics Society and the supervisor for Omicron Delta Epsilon UWW Chapter.

Recent Publications:

“Trend Shocks and Cyclicality of Gross Financial Flows”. International Journal of Economics and Finance, May 2015, Vol. 7. No. 5.
“Trend Shocks and Countercyclical U.S. Current Account”, with David Amdur. Canadian Journal of Economics, May 2014, Vol. 47. No. 2.

Awards

Name

Date

Sponsor

Description

Robert Mundell Prize

August 2015

Canadian Economics Association

The Canadian Economics Association awards the Robert Mundell Prize to the "young" author or authors of the paper judged to be the best paper published in the Canadian Journal of Economics in the previous calendar year. The Robert Mundell Prize for the best article published in the Canadian Journal of Economics in 2014 by an early-career economist was awarded to David Amdur and myself for our joint paper "Trend Shocks and the Countercyclical U.S. Current Account", which appeared in the May 2014 issue of the Canadian Journal of Economics.

Women in Leadership Recognition

March 2015

University of Wisconsin-Whitewater Women’s Issues Committee

The Women in Leadership recognition program was created by the Women’s Issues Committee as a way to honor women in all types of leadership positions at UW-Whitewater.

Leon P. Hermsen Excellence in Teaching Award

April 2014

College of Business and Economics

Each year the Dean’s Student Advisory Committee (DAC) selects one faculty/staff member to receive the Leon Hermsen Excellence in Teaching Award.

Education

Degree

Major

School

Year

Ph.D.

Economics

Georgetown University

2011

Economics

Bilkent University

2004

Economics

Bilkent University

2002

Memberships

Name

Length of Membership

Eastern Economic Association

January 2014 - Current

American Economic Association

December 2012 - Current

Midwest Economic Research Group (MERG)

May 2012 - Current

Midwest Economic Assocation

January 2012 - Current

Georgetown Center for Economic Research

2013 - 2015

Conferences

Title

Co-Author(s)

Abstract

Discussion of "Business cycle implications of rising household credit market participation in emerging countries", by Zulma Barrail

Transmission of Shocks Through the International Banking System

The role of limited information in asset price dynamics

Yamin Ahmad

This note examines the role of information in determining asset price dynamics under rational expectations. Under the no-bubbles solution, we generate and compare price dynamics arising from different informational assumptions on the part of households. W...

A Comparative Analysis of Service vs. Manufacturing Acquirers

Rimi Zakaria

Bubble-like Behavior in Asset Markets: The Role of Limited Infomation

Yamin Ahmad

This note examines the role of information in determining asset price dynamics under rational ex- pectations. Under the no-bubbles solution, we generate and compare price dynamics arising from different informational assumptions on the part of households....

Foreign Exchange Risk and Debt Flows to Peripheral Europe

Ha Nguyen

Euro Currency Risk and the Geography of Debt Flows to Peripheral Europe

Ha Nguyen

A stylized fact we observe is that most of the financing of Peripheral Europe is done by the Core Europe: countries like France and Germany do most of the lending to the Peripheral Europe. Lending by outside investors is more limited. In turn, core Europe...

Discussion of "Worker Remittances and Economic Growth in a Real Business Cycle Framework", by Michael Batu

This paper develops a model of an artificial economy which has the basic structure of the standard Real Business Cycle (RBC) model with stochastic remittance shocks. The model was calibrated using data for 85 remittance recipient countries and the calibra...

On the Financiers of the Peripheral EU

Ha Nguyen, World Bank

The financing pattern of “peripheral” Europe’s current account deficit vis-a-vis the rest of the world is puzzling: the financing is mostly indirect and intermediated by the large countries of the euro area (Chen, Milesi-Ferretti, and Tressel 2013). Speci...

On the Financiers of Peripheral EU

Ha Nguyen, World Bank

Eurozone and Financing of the Peripheral EU

Ha Nguyen

Growth Shocks and Portfolio Flows

Discussion of "Predictability and Specification in Models of Exchange Rate Determination by Levent Bulut "

We examine a class of popular structural models of exchange rate determination and compare them to a random walk with and without drift. Given almost any set of conditioning variables, we find para- metric specifications fail. Our findings are based on a ...

Growth Shocks and Portfolio Flows

This paper studies the cyclicality of portfolio flows under the presence of productivity growth rate shocks. Productivity growth rate shocks successfully replicate countercyclical net equity outflows and procyclical bond inflows for advanced countries, wh...

Discussion of "Determinants of Convergence in the Marginal Product of Capital by Elena Bondarenko and Shuichiro Nishioka"

This paper examines the determinants of convergence in the marginal product of capital. We develop an empirical model from Solow's growth model and augment it to include global factors of financial flows and capital embodied in commodity trade. Using data...

Discussion of "The 2000 and 2008 Olympic Games Announcements and Chinese Stock Market Responses by Yu Liu"

Major cities often compete to host the Olympic Games and argue that staging such a mega event will generate net positive economic impacts to the hosting economy. This argument implies that, if the investors do not fully anticipate the election result, p...

Growth Shocks and Portfolio Flows

Trend Shocks and Countercyclical U.S. Current Account

David Amdur

From 1960–2009, the U.S. current account balance has tended to decline during expansions and improve in recessions. We argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two- country, two-...

Growth Shocks and Portfolio Flows

Selected Publications

Title

Publisher

Type

Details

Date

Euro Currency Risk and the Geography of Debt Flows to Peripheral EMU

Journal of International Money and Finance

Journal Article, Academic Journal

2016

International portfolio flows with growth shocks

Economics Letters

Journal Article, Academic Journal

Vol. 141 Iss. April 2016

April (2nd Quarter/Spring) 2016

Trend Shocks and the Countercyclical U.S. Current Account

Journal of Canadian Economics

Journal Article, Academic Journal

Vol. 47 Iss. 2

May 2014

All Publications

Title

Publisher

Type

Details

Date

Euro Currency Risk and the Geography of Debt Flows to Peripheral EMU

Journal of International Money and Finance

Journal Article, Academic Journal

2016

International portfolio flows with growth shocks

Economics Letters

Journal Article, Academic Journal

Vol. 141 Iss. April 2016

April (2nd Quarter/Spring) 2016

Trend Shocks and Gross Financial Flows

International Journal of Economics and Finance

Journal Article, Academic Journal

Vol. 7 Iss. 5

May 2015

Trend Shocks and the Countercyclical U.S. Current Account

Journal of Canadian Economics

Journal Article, Academic Journal

Vol. 47 Iss. 2

May 2014

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Eylem Ersal Associate Professor

Awards

Education

Memberships

Conferences

Selected Publications

All Publications

Eylem Ersal
Associate Professor