Welcome! I am an Assistant Professor 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 also researched in R&D investments of U.S. firms such as the cyclicality of R&D investments, how firms allocate investment between R&D and non-R&D investment when borrowing costs change. I have also examined the sensitivity of firm borrowing spreads in the U.S. to changes in monetary policy stance.
PhD in Economics, 2015
University of Pittsburgh
MA in Economics, 2009
BS in Industrial Engineering, 2007
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.
R&D, innovation spillover and business cycles
with Uluc Aysun (submitted)
R&D, market power and the cyclicality of employment
with Uluc Aysun, Melanie Guldi and Adam Honig (submitted)
Optimal bailouts in banking and sovereign crises
with Sewon Hur and Cesar Sosa-Padilla
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