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Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model

Year 2013, Volume: 3 Issue: 4, 7 - 13, 01.12.2013

Bulent Altay Mert Topcu Ebru Erdogan

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

Oil price output employment Turkish economy

Year 2013, Volume: 3 Issue: 4, 7 - 13, 01.12.2013

Bulent Altay Mert Topcu Ebru Erdogan

Abstract

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Details

Other ID JA73RK28AM
Journal Section Research Article
Authors

Bulent Altay This is me

Mert Topcu This is me

Ebru Erdogan This is me

Publication Date December 1, 2013
Published in Issue Year 2013 Volume: 3 Issue: 4

Cite

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.
AMA Altay B, Topcu M, Erdogan E. Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model. IJEEP. December 2013;3(4):7-13.
Chicago Altay, Bulent, Mert Topcu, and Ebru Erdogan. “Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model”. International Journal of Energy Economics and Policy 3, no. 4 (December 2013): 7-13.
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 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, 2013.
ISNAD Altay, Bulent et al. “Oil Price, Output and Employment in Turkey: Evidence from Vector Error Correction Model”. International Journal of Energy Economics and Policy 3/4 (December 2013), 7-13.
JAMA 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, 2013, pp. 7-13.
Vancouver 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.