The Inflationary Effect of Price Increases in Oil Products in Turkey/Türkiye'de Petrol Ürünleri Fiyat Artislarinin Enflasyonist Etkisi

In this study, the inflationary effect of price increases in oil products was investigated for Turkey's economy using monthly data for the period 1996 - 2009. According to the empirical evidence obtained from the study made with bounds testing approach developed by Pesaran et al. (2001), co-int...

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Bibliographic Details
Published inEge akademik bakıs Vol. 11; no. 4; p. 553
Main Authors Peker, Osman, Mercan, Mehmet
Format Journal Article
LanguageEnglish
Published Izmir Ege University Faculty of Economics and Administrative Sciences 01.10.2011
Subjects
Crude oil
Crude oil prices
Economic conditions
Foreign exchange rates
Gasoline
Inflation
Labor market
Petroleum production
Price increases
Pricing policies
Taxes
Variables
Turkey
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Summary:In this study, the inflationary effect of price increases in oil products was investigated for Turkey's economy using monthly data for the period 1996 - 2009. According to the empirical evidence obtained from the study made with bounds testing approach developed by Pesaran et al. (2001), co-integration relationship between the variables have been determined. Accordingly, in the long-term analysis, inflationary effect of price increases of oil products was found positive and statistically significant in line with theoretical expectations. In its short-term analysis, coefficient of the error correction term was found statistically significant and negative. Therefore, deviations occured between the variables converge to long-term equilibrium level. [PUBLICATION ABSTRACT]
ISSN:1303-099X