Doğuhan Sündal

Publications

• Business cycles, financial conditions, and nonlinearities - with Ivan Mendieta-Muñoz, https://doi.org/10.1111/meca.12363

• Not your average firm: A quantile regression approach to firm-level investment in the United States, https://doi.org/10.1111/meca.12440

• Relative Size Distribution of Business Firms - a Qrse Approach, https://doi.org/10.1016/j.econmod.2024.106847

• Investment-Saving Equilibrium in Reliable Markets, https://doi.org/10.1007/s00191-025-00935-4

• Cooperation and Coordination in Egalitarian Political Economies, https://doi.org/10.1007/s11403-026-00477-3

Working Papers

• Competition and Accumulation in Quantal Response Statistical Equilibrium, http://dx.doi.org/10.2139/ssrn.4596359

This paper develops a statistical equilibrium model of the firm facing opportunities of profit and growth. A joint equilibrium distribution of profit rate and growth rate is obtained where firms’ probabilistic decisions to compete and allocate their resources and these decisions’ impacts on market outcomes are studied. Using this model, the paper estimates the joint probability density of profit rate and growth rate using firm-level data for the US, between 1962-2022 and documents the time evolution of competitiveness and accumulation behavior.

• Social Class in the U.S.: Polarization, Inequality, and Mobility, http://dx.doi.org/10.2139/ssrn.5934014

While social class is often used to explain economic outcomes and trends, identifying individuals' precise location within the class structure remains challenging. This paper proposes a novel approach to class structure and using a panel survey to analyze class location in the United States. Drawing on the Marxian concept of class, this study analyzes class polarization, intrapersonal mobility, and inequalities both between and within classes. We find that polarization and mobility are linked to growth patterns, yet many inequalities persist, diverging from macroeconomic fluctuations

• The Size Distribution of European Firms - A Statistical Equilibrium Approach, http://dx.doi.org/10.2139/ssrn.6438341 

We present a statistical equilibrium model of firm expansion in which firms condition their decisions solely on their observed sales shares. Strategic interdependence is captured through a covariance constraint, while satisficing behavior is formalized via a minimum-payoff condition, both embedded in a maximum-entropy inference framework. We estimate the model parameters for large European economies over the period 1995-2023 to examine the historical evolution of sales shares, implied expansion probabilities, and the broader dynamics of competitive processes.

• Anti-Monopoly and Socialization Program, http://dx.doi.org/10.2139/ssrn.6683782

Popular dissent over wealth inequality has brought various intellectual and political currents to focus on similar targets, including the anti-monopoly movement and advocates of socialized, publicly controlled production. While some theorization of social struggles within and outside the state appears to allow for such commonalities, I argue that, in the absence of a coherent socialization program, the overlaps and conflicts between these currents cannot be articulated clearly. After briefly discussing the role and necessity of viable programs of political and economic transformation, I examine two widely discussed programs, planned and labor-managed economies, and their material bases in relation to the anti-monopoly movement's goals. I conclude by emphasizing the challenges, as well as the opportunities, for a productive dialogue.

• Comparative Political Economy of Pollution Abatement, https://ssrn.com/abstract=6784978

The steady state properties of various representative agent political economies with regards to pollution are explored. Providing tractable solutions for dynamic problems of neoclassical growth, varieties of capitalism and worker control, this paper analyzes the accumulation and allocation properties of these economies. The numerical solutions for the labor-intensive and capital-intensive technologies are provided for all economies facing the same parameter values and these economies comparative performance in pollution abatement is discussed.

Work in Progress

• On the Mean-Entropy Frontier: Profit Rate Equalization

• Class Structure as Emergent Coalition

• The Dynamic Hierarchy of U.S. Industrial Growth

Courses

• ECON 2201: Principles of Microeconomics

• ECON 2202: Principles of Macroeconomics

• ECON 3105: Political Economy

• ECON 3400: Money, Banking, and Financial Markets

• ECON 3620: Mathematics for Economists

• ECON 3640: Probability and Statistical Inference for Economists

• ECON 4412: Firms and Markets 

• ECON 4700: History of Economic Thought

• ECON 5080/6080: Marxian Economics

• ECON 5540/6540: Capitalism and Socialism