Journal Publications
Tuğan, Mustafa. “Adverse Consequences of Turkey’s Ever Weakening Monetary Policy.” Forthcoming at International Finance.
Tuğan, Mustafa and Seda E. Özçelik. 2026. “Do Aggregate Dynamics in Developing Economies Differ after a Rise in Home and Foreign Productivity?” Economic Modelling 156, 107447. https://doi.org/10.1016/j.econmod.2025.107447.
Tugan, Mustafa. 2025. “Yield-to-Maturity on Sovereign Eurobonds and Foreign-Currency Sovereign Borrowing in EMEs.” METU Studies in Development 52(1), 181-202.
Özçelik, Emre and Mustafa Tuğan. 2024. "Terms-of-Trade Effects of Productivity Shocks in Developing Economies." Review of International Economics, 32 (4): 1587–1606.
Özmen, Utku M. and Mustafa Tuğan. 2022. “Heterogeneity in Sectoral Price and Quantity Responses to Shocks to Monetary Policy.” Journal of Macroeconomics 73: 103439.
Tuğan, Mustafa. 2021. “Panel VAR Models with Interactive Fixed Effects.” The Econometrics Journal
24 (2): 225-246.
Karaca, Emek and Mustafa Tuğan. 2017. “Aggregate Dynamics after a Shock to Monetary Policy in Developing Countries.” International Journal of Central Banking 13 (1): 261-296
Book Publication
Tuğan, Mustafa. 2025. Türkiye’de Asgari Ücretin İl Bazlı Gelir Dengesizlikleri Üzerindeki Etkisi. Bursa, Türkiye: Ekin Basın Yayın Dağıtım. ISBN: 978-625-5661-53-1.
Book-Chapter Publication
Özçelik, Emre and Mustafa Tuğan. 2025. “Cumhuriyet’in İlk Yüzyılında Türkiye’de Ekonomik Büyüme: Ülke Karşılaştırmalı Bir Çözümleme.” In Cumhuriyet'in 100. Yılında Türkiye Ekonomisinin Çok Boyutlu Analizi, edited by Fatma M. Utku-İsmihan and Oya S. Erdoğdu. Ankara, Türkiye: Ankara Üniversitesi Yayınları, 79-123.
Working Papers
“A Comparison of Wage and Income Convergence Across the Globe Since 1960”.
Work in Progress
“Inference on Romer-Romer Monetary Shocks Under Heteroskedasticity”.
“The Real Effects of Shocks to Monetary Policy with Sectoral Heterogeneity in Price Flexibility”.