Oil Price Shocks-Macro Economy Relationship in Turkey
View Abstract View PDF Download PDF
Download VIDEO

Keywords

Oil prices, Macroeconomic variables, Variance decompositions, Impulse responses, Granger causality.

How to Cite

Ozturk, F. . (2015). Oil Price Shocks-Macro Economy Relationship in Turkey. Asian Economic and Financial Review, 5(5), 846–857. https://doi.org/10.18488/journal.aefr/2015.5.5/102.5.846.857

Abstract

This paper analyzes the impact of oil price shocks on the selected macroeconomic variables in Turkey for the period of 1990Q1-2011Q4. Vector Autoregression (VAR) models and bivariate Granger causality tests are applied to determine the oil price shocks - macro economy relationship. The empirical findings show that both symmetric and positive oil price shocks decrease industrial production, money supply, and imports while the negative oil price shocks increase imports. Granger causality analysis demonstrate that symmetric and positive oil price shocks Granger-cause industrial production and imports in Turkey.

https://doi.org/10.18488/journal.aefr/2015.5.5/102.5.846.857
View Abstract View PDF Download PDF
Download VIDEO

Abstract Video

Downloads

Download data is not yet available.