The effects of the oil price and oil price volatility on inflation in Turkey

Basit Öğe Kaydı
dc.contributor.authorKose, Nezir
dc.contributor.authorUnal, Emre
dc.date.accessioned2024-03-13T10:34:55Z
dc.date.available2024-03-13T10:34:55Z
dc.date.issued2021
dc.departmentİstanbul Beykent Üniversitesien_US
dc.description.abstractThe effects of the oil price and oil price volatility on inflation in Turkey were analyzed via a structural vector autoregression (SVAR) model, using monthly data covering the period between March 1988 and August 2019. The result of variance decomposition indicates that the effects of the oil price and oil price volatility on inflation were limited in the early months but increased over the subsequent months. The labor cost indicates the same -its effect on inflation was limited in the early months but became more significant later. The exchange rate constituted the largest source of changes in inflation, and its impact only slightly decreased in the latter part of the period. According to the result of impulse response functions, the responses of the oil price and exchange rate to inflation were significant in the early months. The response of inflation to labor cost became significant after a few months. The result of this research indicates that following stable economic policies, considering both monetary policy and fiscal policy, provides important dynamics for the control of inflation. Nevertheless, the oil price is an external factor for which alternative ways need to be found in order to reduce its inflationary effect. (c) 2021 Elsevier Ltd. All rights reserved.en_US
dc.identifier.doi10.1016/j.energy.2021.120392
dc.identifier.issn0360-5442
dc.identifier.issn1873-6785
dc.identifier.scopus2-s2.0-85103325699en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttps://doi.org/10.1016/j.energy.2021.120392
dc.identifier.urihttps://hdl.handle.net/20.500.12662/4142
dc.identifier.volume226en_US
dc.identifier.wosWOS:000649666000006en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherPergamon-Elsevier Science Ltden_US
dc.relation.ispartofEnergyen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectInflationen_US
dc.subjectOil priceen_US
dc.subjectOil price volatilityen_US
dc.subjectStructural VARen_US
dc.titleThe effects of the oil price and oil price volatility on inflation in Turkeyen_US
dc.typeArticleen_US

Dosyalar

Koleksiyon

WoS İndeksli Yayınlar Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu