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Nevsehir University, Department of Economics, Nevsehir, Turkey

Author

Listed:
  • B lent Alta

    (Afyon Kocatepe University, Department of Economics, Afyon, Turkey)

  • Mert Topcu

    (Nevsehir University, Department of Economics, Nevsehir, Turkey)

  • Ebru Erdo an

    (Nevsehir University, Department of Economics, Nevsehir, Turkey)

Abstract

This paper assesses the relationship among oil prices, real output growth and employment in Turkey over the period 2000:1-2012:4 by using vector error correction methodology. Empirical findings indicate a long-run relationship among the variables. Besides, short-run causality results based on vector error correction model provide an evidence of bi-directional causality linkage between oil prices and output, where uni-directional causality from oil prices and output to employment is established. The long-run causality analysis on the other hand shows that (i) the oil prices and real output do not cause employment, (ii) employment and real output do not cause oil prices, and however (iii) the oil price and employment cause output.

Suggested Citation

  • B lent Alta & Mert Topcu & Ebru Erdo an, 2013. "Nevsehir University, Department of Economics, Nevsehir, Turkey," International Journal of Energy Economics and Policy, Econjournals, vol. 3(Special), pages 7-13.
    • Handle: RePEc:eco:journ2:2013-04-2
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Oil price; output; employment; Turkish economy;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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