The Effects of Oil Shocks on Turkish Macroeconomic Aggregates

The Effects of Oil Shocks on Turkish Macroeconomic Aggregates

This paper examines the impacts of oil price shocks on macroeconomic aggregates of Turkey. We find evidence suggesting the influential role of oil price shocks on macroeconomic aggregates. In other words, we find that oil price shocks affect output growth negatively with a delay. However, higher oil prices are associated with higher inflation, and depreciating exchange rate. We also explore the role of asymmetric oil shocks on macroeconomic aggregates and find that both oil price increases and decreases are associated with a delayed lower output growth rate. Furthermore, we find oil price increases affect inflation positively a delay. The appreciation of exchange rate appears with a delay due to oil price decreases.
International Journal of Energy Economics and Policy-Cover
  • Başlangıç: 2011
  • Yayıncı: İlhan ÖZTÜRK
Sayıdaki Diğer Makaleler

Assessment of the Required Changes of Russian Ecological Taxes

Tatiana Olegovna TAGAEVA, Alexander Olegovich BARANOV, Vadim Manavirovich GİLMUNDİNOV

Energy Price Uncertainty and Investment: Firm Level Evidence from Indian Manufacturing Sector

Rajesh H. Acharya, Anver C. Sadath

Will be there New CO2 Emitters in the Future? Evidence of Long-run Panel Co-integration for N-11 Countries

Mohammad Nasre ESFAHANİ, Ehsan RASOULİNEZHAD

The Effects of Electricity Consumption on Agriculture, Service and Manufacturing Sectors in Malaysia

Tan Lee Pei, Mohd Shahidan Shaari, Tunku Salha Tunku Ahmad

The Changing Energy Intensity in Indian Economy: A Sector-level Analysis Based on Input-Output Model

Anjali TANDON, Shahid AHMED

Electricity Consumption and Information and Communication Technology (ICT) in the N-11 Emerging Economies

Munshi Naser Ibne Afzal, Jeff Gow

Economic and Technical Feasibility of Metering and Sub-metering Systems for Heat Accounting

Luca CELENZA, Marco DELL’ISOLA, Giorgio FİCCO, Marco GRECO, Michele GRİMALDİ

Public-Private Participation in Energy Infrastructure in Middle East and North African Countries: The Role of Institutions for Renewable Energy Sources Diffusion

Ernesto SOMMA, Alessandro RUBİNO

Innovations as Drivers of Stable Growth of the Kazakh Economy through State Policy in Area of Eco-innovations Implementation

Dana Saylauovna BEKNİYAZOVA, Arman AKİSHEV, İldar KALİYEV, Gulnara Turganovna SHAMSHUDİNOVA, Meiramgul Armiyanovna ALTYBASSAROVA

Barriers to Energy Saving for Public Middle Schools in Bangkok: From School Management Perspective

Wuttipan KİATRUANGKRAİ, Ekachai LEELARASMEE