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The Gibson Paradox: An Empirical Investigation for Turkey

Ferda Halicioglu

MPRA Paper from University Library of Munich, Germany

Abstract: This paper tests the existence of Gibson paradox using the traditional and modern time series techniques in the case of annual Turkish data. Even though the results from the traditional Gibson paradox regression suggested a positive relationship between the interest rates and the prices levels in Turkish data, subsequently it was proven to be spurious. On analyzing the time series properties of the variables and the results from the Johansen cointegration procedure, we reveal that there is no support of the Gibson paradox in Turkish data.

Keywords: Gibson paradox; co-integration; Turkey (search for similar items in EconPapers)
JEL-codes: E50 E4 (search for similar items in EconPapers)
Date: 2004
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Published in European Research Studies Journal 1-2.7(2004): pp. 111-119

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