Maloney Family Distinguished Associate Professor of Economics Hasan Cömert talks about his new grant from the Political Economy Research Institute (PERI) at the University of Massachusetts Amherst (UMass Amherst) to pursue his research, “Exchange Rate Shocks, Economic Inequality, and Gender Disparities in Turkey: A History and Context Sensitive Analysis with Lessons for Comparative Studies.”
You received a Ph.D. from UMass Amherst. How does it feel to be recognized in this way by your alma mater?
It feels wonderful. I have close working relationships with many of my former professors and colleagues.
When you were studying at UMass, did you do any work with PERI?
I worked as a research assistant at PERI on several projects. PERI is known for work on environmental justice, labor markets, minimum wage, and financial markets. It also studies the structural forces that impact the economies of developing countries, which is an interest of mine.
How does this new research build on your previous work?
I study exchange rates, inflation, and structural problems in developing countries. I have used the Turkish economy as a case study. In this project, I will extend my research to explore shocks related to income inequality in Turkey and the gender dimensions of this inequality. Studying Turkey can reveal interesting lessons for other similar middle-income countries. But, there’s an important caveat. Lessons should be applied cautiously because each country has its unique characteristics and challenges.
What do you hope to discover or reveal in this research?
There are not many studies on the issue of how exchange rate shocks might affect different groups in a society. Everyone knows that exchange rates may affect the purchasing power of individuals, but their impact may systematically differ by group. This has been ignored, and I have a hunch that the magnitude of this differential impact is much larger than we think.
How are you able to study something that is ever-changing, like the economy, especially in a time of political upheaval and change?
It’s not straightforward finding causalities in economics because of the ever-changing nature of the economy and because it’s composed of many moving pieces. Even if we discover causalities, there are many different theories to explain them. I often benefit from other disciplinary approaches—such as politics and history—to study economic changes. I pay attention to how economies evolve in a dynamic manner, by considering social relations. For example, a government might try to implement certain economic policies that might not be sensitive to the demands of certain groups, and as a result, these groups will be adversely affected. In this way, politics comes into play in economic outcomes. Not all economists agree with this approach to understanding the economy, but I think it’s important to see economies as living organisms.
Are there advantages to exploring economic questions the way that you do?
I have been exposed to many different approaches—from mainstream to alternative perspectives. There are advantages to using different approaches in different situations. In many cases, combining them results in more insightful findings.
Is there anything else you’d like to add about your research?
Research and teaching go hand in hand at a liberal arts college like Trinity. The information that I derive from my research helps me teach and develop better classes. Teaching is also the best way to learn as an academic. And, I feel that teaching and research can be understood as a symbiotic whole and an indispensable part of a liberal arts college.
