Nevsehir University, Department of Economics, Nevsehir, Turkey

B lent Alta, Mert Topcu and Ebru Erdo An
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B lent Alta: Afyon Kocatepe University, Department of Economics, Afyon, Turkey
Ebru Erdo An: Nevsehir University, Department of Economics, Nevsehir, Turkey

International Journal of Energy Economics and Policy, 2013, vol. 3, issue Special, 7 - 13

Abstract: This paper assesses the relationship among oil prices, real output growth and employment in Turkey over the period 2000:1-2012:4 by using vector error correction methodology. Empirical findings indicate a long-run relationship among the variables. Besides, short-run causality results based on vector error correction model provide an evidence of bi-directional causality linkage between oil prices and output, where uni-directional causality from oil prices and output to employment is established. The long-run causality analysis on the other hand shows that (i) the oil prices and real output do not cause employment, (ii) employment and real output do not cause oil prices, and however (iii) the oil price and employment cause output.

Keywords: Oil price; output; employment; Turkish economy (search for similar items in EconPapers)
JEL-codes: E24 Q4 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2013-04-2

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