Welcome! I am the Lisa D’Alessandro ’87 Assistant Professor in the Department of Economics at Villanova University. My research interests are mainly macroeconomics, international macroeconomics, monetary economics and financial economics. My research in international macroeconomics mostly focuses on sovereign debt crises at various angles, such as the role of income inequality in default risk, the relationship between labor markets and the default risk, and the link between banking and sovereign default crises. In addition, I have researched in various topics related to R&D investments of U.S. firms such as the cyclicality of R&D investments, R&D’s role in business cycles, the effects of the policies that promote innovation on R&D investments, and the joint effects of market power and R&D on the cyclicality of employment. I have also examined the sensitivity of firm borrowing spreads in the U.S. to changes in monetary policy stance.
In Spring 2022, I will be a visiting faculty researcher at UPenn.
PhD in Economics, 2015
University of Pittsburgh
MA in Economics, 2009
BS in Industrial Engineering, 2007
R&D characteristics, innovation spillover and technology-driven business cycles
Aysun, Uluc and Zeynep Yom. “R&D characteristics, innovation spillover and technology-driven business cycles.” Journal of Industry, Competition and Trade (2021)
Interest rates, R&D investment and the distortionary effects of R&D incentives
Aysun, Uluc, and Zeynep Kabukcuoglu. “Interest rates, R&D investment and the distortionary effects of R&D incentives.” European Economic Review 111 (2019): 191-210.
The cyclical behavior of R&D investment during the great recession
Kabukcuoglu, Zeynep. “The cyclical behavior of R&D investment during the Great Recession.” Empirical Economics 56.1 (2019): 301-323.
Income inequality and sovereign default
Jeon, Kiyoung, and Zeynep Kabukcuoglu. “Income inequality and sovereign default.” Journal of Economic Dynamics and Control 95 (2018): 211-232.
Is the credit channel alive? Firm-level evidence on the sensitivity of borrowing spreads to monetary policy
Aysun, Uluc, Kiyoung Jeon, and Zeynep Kabukcuoglu. “Is the credit channel alive? Firm-level evidence on the sensitivity of borrowing spreads to monetary policy.” Economic Modelling 75 (2018): 305-319.
Optimal bailouts in banking and sovereign crises
with Sewon Hur and Cesar Sosa-Padilla (submitted)
R&D, market power and the cyclicality of employment
with Uluc Aysun, Melanie Guldi and Adam Honig (submitted)
Works in Progress
Sovereign default risk with working capital in emerging markets
with Kiyoung Jeon
Financial constraints and exports evidence from Korea
with Kiyoung Jeon