EN
Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model
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.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
December 1, 2013
Submission Date
December 1, 2013
Acceptance Date
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Published in Issue
Year 2013 Volume: 3 Number: 4
APA
Altay, B., Topcu, M., & Erdogan, E. (2013). Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model. International Journal of Energy Economics and Policy, 3(4), 7-13. https://izlik.org/JA27AA36AT
AMA
1.Altay B, Topcu M, Erdogan E. Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model. IJEEP. 2013;3(4):7-13. https://izlik.org/JA27AA36AT
Chicago
Altay, Bulent, Mert Topcu, and Ebru Erdogan. 2013. “Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model”. International Journal of Energy Economics and Policy 3 (4): 7-13. https://izlik.org/JA27AA36AT.
EndNote
Altay B, Topcu M, Erdogan E (December 1, 2013) Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model. International Journal of Energy Economics and Policy 3 4 7–13.
IEEE
[1]B. Altay, M. Topcu, and E. Erdogan, “Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model”, IJEEP, vol. 3, no. 4, pp. 7–13, Dec. 2013, [Online]. Available: https://izlik.org/JA27AA36AT
ISNAD
Altay, Bulent - Topcu, Mert - Erdogan, Ebru. “Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model”. International Journal of Energy Economics and Policy 3/4 (December 1, 2013): 7-13. https://izlik.org/JA27AA36AT.
JAMA
1.Altay B, Topcu M, Erdogan E. Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model. IJEEP. 2013;3:7–13.
MLA
Altay, Bulent, et al. “Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model”. International Journal of Energy Economics and Policy, vol. 3, no. 4, Dec. 2013, pp. 7-13, https://izlik.org/JA27AA36AT.
Vancouver
1.Bulent Altay, Mert Topcu, Ebru Erdogan. Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model. IJEEP [Internet]. 2013 Dec. 1;3(4):7-13. Available from: https://izlik.org/JA27AA36AT