Photo of Emre Yoldas

Emre Yoldas

Education

  • Ph.D., Economics, University of California - Riverside, 2008
  • M.A., Economics, Marmara University, 2002
  • B.A., Finance and Accounting, Marmara University, 2000
Current Research Topics
  • U.S. monetary policy and EME financial conditions
  • Assistant Director

    Board of Governors of the Federal Reserve System

    2021 - present
  • Section Chief

    Board of Governors of the Federal Reserve System

    2017 - 2021
  • Visiting Scholar

    University of California, San Diego

    2017
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2015 - 2017
  • Economist

    Board of Governors of the Federal Reserve System

    2011 - 2015
  • Assistant Professor

    Bentley University

    2009 - 2011
  • Are higher U.S. interest rates always bad news for emerging markets?
    Jasper Hoek, Steve Kamin, and Emre Yoldas
    Journal of International Economics (2022)
    https://doi.org/10.1016/j.jinteco.2022.103585
  • Are Rising U.S. Interest Rates Destabilizing for Emerging Market Economies?
    Jasper Hoek, Steve Kamin, and Emre Yoldas
    FEDS Notes (2021)
    https://doi.org/10.17016/2380-7172.2930
  • The Impact of COVID-19 on Emerging Market Economies' Financial Conditions
    Shaghil Ahmed, Jasper Hoek, Steve Kamin, Ben Smith, and Emre Yoldas
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2749
  • When is Bad News Good News? U.S. Monetary Policy, Macroeconomic News, and Financial Conditions in Emerging Markets
    Jasper Hoek, Steve Kamin, and Emre Yoldas
    International Finance Discussion Papers (2020)
    https://doi.org/10.17016/IFDP.2020.1269
  • Effects of Changing Monetary and Regulatory Policy on Money Markets
    Elizabeth Klee, Zeynep Senyuz, and Emre Yoldas
    International Journal of Central Banking (2019)
    See also » FRB Working Paper (2016)
  • Financial Stress and Equilibrium Dynamics in Term Interbank Funding Markets
    Emre Yoldas and Zeynep Senyuz
    Journal of Financial Stability (2018)
    https://doi.org/10.1016/j.jfs.2018.01.002
  • Book Reviews: Mathematical and Quantitative Methods
    Emre Yoldas
    Journal of Economic Literature (2017)
    https://doi.org/10.1257/jel.55.2.644
  • Drivers of Inflation Compensation: Evidence from Inflation Swaps in Advanced Economies
    Marius Rodriguez and Emre Yoldas
    IFDP Notes (2016)
    https://doi.org/10.17016/2573-2129.28
  • Public Debt and Macroeconomic Activity: A Predictive Analysis for Advanced Economies
    Deniz Baglan and Emre Yoldas
    Studies in Nonlinear Dynamics and Econometrics (2016)
    https://doi.org/10.1515/snde-2014-0075
  • Dynamics of Overnight Money Markets: What Has Changed at the Zero Lower Bound?
    Elizabeth Klee, Zeynep Senyuz, and Emre Yoldas
    FEDS Notes (2015)
    https://doi.org/10.17016/2380-7172.1676
  • What Does Financial Volatility Tell Us About Macroeconomic Fluctuations?
    Zeynep Senyuz, Emre Yoldas, and Marcelle Chauvet
    Journal of Economic Dynamics & Control (2015)
    https://doi.org/10.1016/j.jedc.2015.01.002
    See also » FRB Working Paper (2012)
  • Non-Linearity in the Inflation-Growth Relationship in Developing Economies: Evidence from a Semiparametric Panel Model
    Deniz Baglan and Emre Yoldas
    Economics Letters (2014)
    https://doi.org/10.1016/j.econlet.2014.08.015
    See also » FRB Working Paper (2014)
  • Cyclical Dynamics of the Turkish Economy and the Stock Market
    Zeynep Senyuz, Emre Yoldas, and I. Onur Baycan
    International Economic Journal (2014)
    https://doi.org/10.1080/10168737.2013.825307
  • Hedge Fund Contagion and Risk-adjusted Returns: A Markov-switching Dynamic Factor Approach
    Ozgur Akay, Zeynep Senyuz, and Emre Yoldas
    Journal of Empirical Finance (2013)
    https://doi.org/10.1016/j.jempfin.2013.02.005
  • Threshold Asymmetries in Equity Return Distributions: Statistical Tests and Investment Implications
    Emre Yoldas
    Studies in Nonlinear Dynamics and Econometrics (2012)
    https://doi.org/10.1515/1558-3708.1799
  • Government Debt and Macroeconomic Activity: A Predictive Analysis for Advanced Economies
    Deniz Baglan and Emre Yoldas
    Finance and Economics Discussion Series (2012)
    https://doi.org/10.17016/FEDS.2013.05
  • Autocontour-Based Evaluation of Multivariate Predictive Densities
    Gloria Gonzalez-Rivera and Emre Yoldas
    International Journal of Forecasting (2012)
    https://doi.org/10.1016/j.ijforecast.2011.06.001
  • Autocontours: Dynamic Specification Testing
    Gloria Gonzalez-Rivera, Zeynep Senyuz, and Emre Yoldas
    Journal of Business & Economic Statistics (2011)
    https://doi.org/10.1198/jbes.2010.08144
  • Multivariate Autocontours for Specification Testing in Multivariate GARCH Models
    Gloria Gonzalez-Rivera and Emre Yoldas
    Volatility and Time Series Econometrics: Essays in Honor of Robert F. Engle (2010)
    https://doi.org/10.1093/acprof:oso/9780199549498.003.0011
  • Optimality of the Risk Metrics Model
    Gloria González-Rivera, Emre Yoldas, and Tae-Hwy Lee
    Finance Research Letters (2007)
    https://doi.org/10.1016/j.frl.2007.06.001
  • seminar

    August 2019

    Federal Reserve Board

    When is Bad News Good News? U.S. Monetary Policy, Macroeconomic News, and Financial Conditions in Emerging Markets

  • conference

    November 2017

    Bowles Symposium on Predictive Analytics (Georgia State University)

    Financial Stress and Equilibrium Dynamics in Term Interbank Funding Markets

  • conference

    November 2017

    XXII Annual Meeting of the Central Bank Researchers Network

    Limits to Monetary Policy: International Evidence from Inflation Markets

  • conference

    July 2017

    World Finance Conference

    Financial Stress and Equilibrium Dynamics in Term Interbank Funding Markets

  • conference

    June 2017

    Econometric Society North American Summer Meeting

    Financial Stress and Equilibrium Dynamics in Term Interbank Funding Markets

  • conference

    July 2016

    NBER Summer Institute (Forecasting and Empirical Methods)

    Financial Stress and Equilibrium Dynamics in Money Markets

  • conference

    June 2016

    International Finance and Banking Society

    Financial Stress and Equilibrium Dynamics in Money Markets

  • conference

    December 2015

    XXIV International Rome Conference on Money Banking and Finance

    Financial Stress and Equilibrium Dynamics in Money Markets

  • conference

    June 2015

    International Symposium on Forecasting

    Banking Industry Risk and Macroeconomic Implications

  • seminar

    May 2015

    Federal Reserve Board

    Financial Stress and Equilibrium Dynamics in Money Markets

  • discussion

    October 2014

    System Committee Meeting on Financial Structure and Regulation Program, Federal Reserve Bank of Dallas

    "Model Risk of Risk Models" by J. Danielson, K. James, M. Valenzuela, and I. Zer

  • conference

    September 2014

    Conference on Advances in Applied Macro-Finance and Forecasting

    Banking Industry Risk and Macroeconomic Implications

  • conference

    June 2014

    International Association for Applied Econometrics Annual Conference

    Banking Industry Risk and Macroeconomic Implications

  • conference

    April 2014

    Annual Symposium of the Society for Nonlinear Dynamics and Econometrics

    Banking Industry Risk and Macroeconomic Implications

Awards
  • 2017

    World Finance Conference

    Honorable Mention in the Best Paper Award

  • 2009

    International Institute of Forecasters

    IIF/SAS Forecasting Research Grant

  • 2008

    Society for Nonlinear Dynamics and Econometrics

    James B Ramsey Prize for Top Paper by a Graduate Student

Referee
  • Econometric Reviews
  • Empirical Economics
  • European Economic Review
  • European Journal of Finance
  • International Journal of Forecasting
  • Journal of Applied Econometrics
  • Journal of Banking and Finance
  • Journal of Business and Economic Statistics
  • Journal of International Money and Finance
  • Macroeconomic Dynamics
  • Oxford Bulletin of Economics and Statistics
  • Quantitative Finance
  • Studies in Nonlinear Dynamics and Econometrics
Last update: October 3, 2022