Galip Kemal Ozhan

Last Updated: December 10, 2024

Galip Kemal Ozhan is an Economist in the Research Department. He is also an associate editor of the International Journal of Central Banking. Prior to his current position, he worked at the Brookings Institution, the University of St Andrews, and the Bank of Canada. His main research interests are in international finance, macroeconomics, and monetary economics. His research has been recognized with a National Science Foundation Award, the Young Economist Award by the European Economics Association, and the Best Paper Award by the Money, Macro and Finance Research Group in the United Kingdom.

Personal WebPage: galipkemalozhan.com

Fluent In: Turkish.

Education:

Ph.D. in Economics, University of Washington, Seattle, WA, 2016

M.Sc. in Finance, Imperial College London, U.K., 2010

M.A. in Economics, Bilkent University, Turkey, 2009

B.Sc. in Industrial Engineering, Bilkent University, Turkey, 2007


Previous Experience:

Senior Economist, Bank of Canada, ON, Canada, 2019 - 2023

Assistant Professor of Economics, University of St. Andrews, U.K., 2016 - 2019

Research Associate, Brookings Institution, Washington, D.C., 2012 - 2013


Referee Activities:

American Economic Journal: Macroeconomics, Canadian Journal of Economics, Economic Journal, Economic Modelling, Economica, IMF Economic Review, International Journal of Central Banking, Journal of Banking & Finance, Journal of International Economics, Journal of International Money and Finance, Macroeconomic Dynamics, Review of Economic Dynamics, Review of International Economics


Editorial Activities:

Associate Editor, International Journal of Central Banking


Professional Activities:

Ph.D. Dissertation Committee Member (External), University of Washington, since 2022

Visiting Scholar, National Bank of Poland, 2018

Visiting Scholar, Bank of Finland, 2017

Research Consultant, CIGI, 2016-2017


Awards and Honors:

National Science Foundation Award No. 2317089, 2023 - 2026

Young Economist Award, European Economic Association, 2016

Best Paper Award, 48th Money, Macro and Finance Research Group, 2016

Ieke van den Burg Prize, European Systemic Risk Board (shortlist), 2016


Current Position:

Economist, International Monetary Fund, 2023 -


Other Professional Positions:

Research Economist, NBER, 2023 -


Teaching:

Monetary Policy (University of St. Andrews, EC5605, Postgraduate), 2017, 2018, 2019

Financial Intermediation (University of St. Andrews, EC5608, Postgraduate), 2017, 2018, 2019


Field of Expertise:

International Macroeconomics

International Finance

Monetary Policy

Publications in Journals (Refereed)

"International Trade and Macroeconomic Dynamics with Sanctions," (with Fabio Ghironi and Daisoon Kim), Journal of Monetary Economics, conditionally accepted.

"Interest Rate Uncertainty as a Policy Tool?" (with Fabio Ghironi), Journal of International Economics, conditionally accepted.

"International Economic Sanctions and Third-Country Effects" (with Fabio Ghironi and Daisoon Kim), IMF Economic Review 72 (January 2024): 611-652.

"News-Driven International Credit Cycles," Journal of Macroeconomics 70 (December 2021): 103372

"Financial Intermediation, Resource Allocation, and Macroeconomic Interdependence," Journal of Monetary Economics 115 (November 2020): 265-278.

Other Published Materials

“The Neutral Interest Rate: Past, Present, and Future. A Thematic Review” (with Matteo Cacciatore and Bruno Feunou), Staff Discussion Paper, Bank of Canada, April 2024.

"Multilateralism During Economic Warfare," in B. Coulibaly and H. Kharas (eds), Climate, Global Governance, and Technology, Special Report, Brookings Institution, October 2023

"Yield Curve Control" (with Matteo Cacciatore), CEA Inquiry, Bank of Canada, July 2020.

"The Growth Debate Redux," in K. Dervis and H. Kharas (eds), Growth, Comvergence and Income Distribution: The Road from the Brisbane G-20 Summit, Brookings Institution Press, Washington, D.C., November 2014

"Unconventional Monetary Policy and Its Reflections on the Global Economy" (with Izak Atiyas and Fuat Keyman), in K. Dervis and H. Kharas (eds), Think Tank 20: The G-20 and Central Banks in the New World of Unconventional Monetary Policy, Brookings Institution Press, Washington, D.C., August 2013

Galip Kemal Ozhan is an Economist in the Research Department. He is also an associate editor of the International Journal of Central Banking. Prior to his current position, he worked at the Brookings Institution, the University of St Andrews, and the Bank of Canada. His main research interests are in international finance, macroeconomics, and monetary economics. His research has been recognized with a National Science Foundation Award, the Young Economist Award by the European Economics Association, and the Best Paper Award by the Money, Macro and Finance Research Group in the United Kingdom.

Personal WebPage: galipkemalozhan.com

Fluent In: Turkish.

Education:

Ph.D. in Economics, University of Washington, Seattle, WA, 2016

M.Sc. in Finance, Imperial College London, U.K., 2010

M.A. in Economics, Bilkent University, Turkey, 2009

B.Sc. in Industrial Engineering, Bilkent University, Turkey, 2007


Previous Experience:

Senior Economist, Bank of Canada, ON, Canada, 2019 - 2023

Assistant Professor of Economics, University of St. Andrews, U.K., 2016 - 2019

Research Associate, Brookings Institution, Washington, D.C., 2012 - 2013


Referee Activities:

American Economic Journal: Macroeconomics, Canadian Journal of Economics, Economic Journal, Economic Modelling, Economica, IMF Economic Review, International Journal of Central Banking, Journal of Banking & Finance, Journal of International Economics, Journal of International Money and Finance, Macroeconomic Dynamics, Review of Economic Dynamics, Review of International Economics


Editorial Activities:

Associate Editor, International Journal of Central Banking


Professional Activities:

Ph.D. Dissertation Committee Member (External), University of Washington, since 2022

Visiting Scholar, National Bank of Poland, 2018

Visiting Scholar, Bank of Finland, 2017

Research Consultant, CIGI, 2016-2017


Awards and Honors:

National Science Foundation Award No. 2317089, 2023 - 2026

Young Economist Award, European Economic Association, 2016

Best Paper Award, 48th Money, Macro and Finance Research Group, 2016

Ieke van den Burg Prize, European Systemic Risk Board (shortlist), 2016


Current Position:

Economist, International Monetary Fund, 2023 -


Other Professional Positions:

Research Economist, NBER, 2023 -


Teaching:

Monetary Policy (University of St. Andrews, EC5605, Postgraduate), 2017, 2018, 2019

Financial Intermediation (University of St. Andrews, EC5608, Postgraduate), 2017, 2018, 2019


Field of Expertise:

International Macroeconomics

International Finance

Monetary Policy

Publications in Journals (Refereed)

"International Trade and Macroeconomic Dynamics with Sanctions," (with Fabio Ghironi and Daisoon Kim), Journal of Monetary Economics, conditionally accepted.

"Interest Rate Uncertainty as a Policy Tool?" (with Fabio Ghironi), Journal of International Economics, conditionally accepted.

"International Economic Sanctions and Third-Country Effects" (with Fabio Ghironi and Daisoon Kim), IMF Economic Review 72 (January 2024): 611-652.

"News-Driven International Credit Cycles," Journal of Macroeconomics 70 (December 2021): 103372

"Financial Intermediation, Resource Allocation, and Macroeconomic Interdependence," Journal of Monetary Economics 115 (November 2020): 265-278.

Other Published Materials

“The Neutral Interest Rate: Past, Present, and Future. A Thematic Review” (with Matteo Cacciatore and Bruno Feunou), Staff Discussion Paper, Bank of Canada, April 2024.

"Multilateralism During Economic Warfare," in B. Coulibaly and H. Kharas (eds), Climate, Global Governance, and Technology, Special Report, Brookings Institution, October 2023

"Yield Curve Control" (with Matteo Cacciatore), CEA Inquiry, Bank of Canada, July 2020.

"The Growth Debate Redux," in K. Dervis and H. Kharas (eds), Growth, Comvergence and Income Distribution: The Road from the Brisbane G-20 Summit, Brookings Institution Press, Washington, D.C., November 2014

"Unconventional Monetary Policy and Its Reflections on the Global Economy" (with Izak Atiyas and Fuat Keyman), in K. Dervis and H. Kharas (eds), Think Tank 20: The G-20 and Central Banks in the New World of Unconventional Monetary Policy, Brookings Institution Press, Washington, D.C., August 2013