IDEAS home Printed from https://ideas.repec.org/a/scm/ecofrm/v5y2016i1p17.html
   My bibliography  Save this article

Impacts Of Euro/Usd Volatility On Steel Prices Of Turkey

Author

Listed:
  • Engin AKMAN

    (Cankiri Karatekin University, Department of International Trade,18000, Turkey)

Abstract

Steel sector is the driving force of industry as it provides raw or semi-finished materials for the majority of manufacturing industries. Turkey is an important steel producer, importer and exporter. 45% of steel imports are from EU-27 zone while only 24% of the exports are destined to the European countries. The study is concentrated on the effects of EUR/USD volatility on the steel prices of Turkey. VAR models, Impulse Response Functions, Granger Causality Tests and Variance Decomposition analysis are employed for the data covering the period of April 2008- January 2015. The study reveals that EUR/USD currency volatility has significant effect on steel prices explaining about 5-6% of the changes in the prices.

Suggested Citation

  • Engin AKMAN, 2016. "Impacts Of Euro/Usd Volatility On Steel Prices Of Turkey," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(1), pages 1-17, January.
    • Handle: RePEc:scm:ecofrm:v:5:y:2016:i:1:p:17
    as

    Download full text from publisher

    File URL: http://ecoforumjournal.ro/index.php/eco/article/view/331/193
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Campa, Jose M. & Goldberg, Linda S. & Gonzalez-Minguez, Jose M., 2005. "Exchange-rate pass-through to import prices in the euro area," IESE Research Papers D/609, IESE Business School.
    2. José Manuel Campa & Linda S. Goldberg, 2005. "Exchange Rate Pass-Through into Import Prices," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 679-690, November.
    3. Matthieu Bussière & Simona Delle Chiaie & Tuomas A Peltonen, 2014. "Exchange Rate Pass-Through in the Global Economy: The Role of Emerging Market Economies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 62(1), pages 146-178, April.
    4. Pesaran, H. Hashem & Shin, Yongcheol, 1998. "Generalized impulse response analysis in linear multivariate models," Economics Letters, Elsevier, vol. 58(1), pages 17-29, January.
    5. R. Barıs Tekin & M. Ege Yazgan, 2009. "Exchange rate pass-through in Turkish export and import prices," Applied Economics, Taylor & Francis Journals, vol. 41(17), pages 2221-2228.
    6. Saban Nazlioglu, 2013. "Exchange rate volatility and Turkish industry-level export: Panel cointegration analysis," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 22(7), pages 1088-1107, October.
    7. Strasser, Georg, 2013. "Exchange rate pass-through and credit constraints," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 25-38.
    8. Joseph E. Gagnon & Nathan Sheets & Robert J. Vigfusson, 2007. "Exchange rate pass-through to export prices: assessing some cross-country evidence," International Finance Discussion Papers 902, Board of Governors of the Federal Reserve System (U.S.).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bussière, M. & Delle Chiaie, S. & Peltonen, T. A., 2013. "Exchange Rate Pass-Through in the Global Economy," Working papers 424, Banque de France.
    2. Cozmanca, Bogdan-Octavian & Manea, Florentina, 2010. "Exchange Rate Pass-Through into Romanian Price Indices. Avar Approach," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 26-52, September.
    3. Choudhri, Ehsan U. & Hakura, Dalia S., 2015. "The exchange rate pass-through to import and export prices: The role of nominal rigidities and currency choice," Journal of International Money and Finance, Elsevier, vol. 51(C), pages 1-25.
    4. Strasser, Georg, 2013. "Exchange rate pass-through and credit constraints," Journal of Monetary Economics, Elsevier, vol. 60(1), pages 25-38.
    5. Matthieu Bussière & Simona Delle Chiaie & Tuomas A Peltonen, 2014. "Exchange Rate Pass-Through in the Global Economy: The Role of Emerging Market Economies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 62(1), pages 146-178, April.
    6. Raphael A. Auer, 2015. "Exchange Rate Pass‐Through, Domestic Competition, and Inflation: Evidence from the 2005–08 Revaluation of the Renminbi," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(8), pages 1617-1650, December.
    7. Siok Kun, Sek, 2009. "The impacts of economic structures on the performance of simple policy rules in a small open economy," MPRA Paper 25065, University Library of Munich, Germany.
    8. Mirdala, Rajmund, 2015. "Exchange Rate Pass-Through in the Euro Area," MPRA Paper 68862, University Library of Munich, Germany.
    9. Georgiadis, Georgios & Gräb, Johannes & Khalil, Makram, 2019. "Global value chain participation and exchange rate pass-through," Working Paper Series 2327, European Central Bank.
    10. Mirdala, Rajmund, 2013. "Exchange Rate Pass-Through to Domestic Prices under Different Exchange Rate Regimes," MPRA Paper 53209, University Library of Munich, Germany.
    11. Diby François Kassi & Dilesha Nawadali Rathnayake & Akadje Jean Roland Edjoukou & Yobouet Thierry Gnangoin & Pierre Axel Louembe & Ning Ding & Gang Sun, 2019. "Asymmetry in Exchange Rate Pass-Through to Consumer Prices: New Perspective from Sub-Saharan African Countries," Economies, MDPI, vol. 7(1), pages 1-33, January.
    12. repec:zbw:bofitp:2008_025 is not listed on IDEAS
    13. M. Faruk Aydin & Selcuk Gul, 2020. "The Role of Real Exchange Rates in Export Price Determination," CBT Research Notes in Economics 2006, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    14. Matthieu Bussière & Simona Delle Chiaie & Tuomas A Peltonen, 2014. "Exchange Rate Pass-Through in the Global Economy: The Role of Emerging Market Economies," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 62(1), pages 146-178, April.
    15. Özyurt, Selin, 2016. "Has the exchange rate pass through recently declined in the euro area?," Working Paper Series 1955, European Central Bank.
    16. Celine Bonnet & Pierre Dubois & Sofia B. Villas Boas & Daniel Klapper, 2013. "Empirical Evidence on the Role of Nonlinear Wholesale Pricing and Vertical Restraints on Cost Pass-Through," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 500-515, May.
    17. William Powers & David Riker, 2015. "The Effect of Exchange Rates on the Costs of Exporters When Inputs Are Denominated in Foreign Currencies," The International Trade Journal, Taylor & Francis Journals, vol. 29(1), pages 3-18, March.
    18. Mion, Giordano & Jacob, Nick, 2020. "On the productivity advantage of cities," CEPR Discussion Papers 14644, C.E.P.R. Discussion Papers.
    19. Shioji, Etsuro, 2015. "Time varying pass-through: Will the yen depreciation help Japan hit the inflation target?," Journal of the Japanese and International Economies, Elsevier, vol. 37(C), pages 43-58.
    20. Byrne, Joseph P. & Chavali, Aditya S. & Kontonikas, Alexandros, 2010. "Exchange rate pass through to import prices: panel evidence from emerging market economies," SIRE Discussion Papers 2010-46, Scottish Institute for Research in Economics (SIRE).
    21. Antonia López-Villavicencio & Valérie Mignon, 2020. "Exchange rate pass-through to import prices: accounting for changes in the eurozone trade structure," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 156(4), pages 835-858, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:scm:ecofrm:v:5:y:2016:i:1:p:17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Iulian Condratov (email available below). General contact details of provider: https://edirc.repec.org/data/feusvro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.