THE RELATIONSHIP BETWEEN OIL PRICES AND INFLATION IN TURKISH ECONOMY: AN EMPIRICAL ANALYSIS

Sultan Koã‡ak (), Feyza Balan () and Barış Albayrak ()
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Sultan Koã‡ak: Öğrenci/Çanakkale Onsekiz Mart Ãœniversitesi/TÃœRKÄ°YE
Feyza Balan: Çanakkale Onsekiz Mart Üniversitesi/TÜRKİYE
Barış Albayrak: Çanakkale Onsekiz Mart Üniversitesi/TÜRKİYE

JOURNAL OF LIFE ECONOMICS, 2017, vol. 4, issue 4, 261-273

Abstract: Movements in oil prices in the globalizing world have significant impacts on economic indicators. Oil prices, which have a significant impact on the general level of prices especially in the oil-importing countries, are a determining factor for inflation that an important macroeconomic indicator. In this context, the relationship between oil prices and inflation for the period 2003: 01/2017: 02 investigated with the aid of VAR model. As a result of the analysis, a positive relationship identified between oil prices and inflation. In this case, it is understood that an increase in oil prices increased the inflation rate in the corresponding period.

Keywords: Inflation; Oil; Prices (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:jle:journl:v:4:y:2017:i:4:p:261-273

DOI: 10.15637/jlecon.218

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