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.
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.
“Macroeconomic Uncertainty and International Capital Flows”
Ezgi Ozturk
This study examines the relationship between changes in the gross and net capital flows, and macroeconomic uncertainty. We use variable-specific, country-specific, and global uncertainty estimates based on Consensus Forecasts for 46 advanced and emerging ...
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
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...
Eurozone and Financing of the Peripheral EU
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...
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
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...
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
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...
