Uluslararası Ham Petrol Fiyatlarındaki Volatilitenin İşsizlik Göstergeleri Üzerindeki Etkisi: Türkiye Örneği Üzerine Ampirik Bulgular

Year 2011, Volume: 10 Issue: 2, 715 - 730, 01.12.2011

Birol Erkan Mehmet Şentürk Yusuf Ekrem Akbaş Tayfur Bayat

Abstract

Petrol fiyatları ekonomik aktiviteler üzerinde çeşitli kanallardan etkiye yol açmaktadır. Son dönemlerdeki birçok çalışma petrol fiyatlarının makro ekonomik değişkenler üzerindeki rolü üzerinde durmuştur. Bu çalışmanın amacı; Türkiye’de petrol fiyatlarıyla işsizlik arasındaki kısa/uzun dönemli ilişkiyi ortaya çıkarmaktır. 30 Yılı aşkın süredir petrol fiyatlarındaki artışın en yaygın sebebi olarak arzdaki azalmalar gösterilmektedir. 1970’lerin başında arzdaki azalmalar nedeniyle petrol fiyatları artmıştır. Bununla birlikte 1970’lerin sonunda ve 1980’lerin başında İran Şahı hükümetinin devrilmesi ve bunu izleyen İran-Irak savaşı sonucu arzdaki azalmalar da petrol fiyatlarının artmasında etken olmuştur. Çalışmamızda Türkiye’de 2005:01 ve 2009:12 döneminde petrol fiyatlarının işsizliği ne şekilde etkilediğini ortaya çıkarmak için Granger Nedensellik Modeli uygulanmıştır. Bununla beraber, sözü edilen değişkenler arasındaki ilişkinin saptanması, tahmini ve gecikme değerlerinin elde edilmesi amacıyla Vektör Otoregresif Modeli kullanılmıştır. Sonuç olarak; Türkiye’de petrol fiyatları ile işsizlik oranı arasında uzun dönemli ilişki mevcuttur. İşsizlik oranındaki değişmeler petrol fiyatlarını etkilememekte, petrol fiyatlarındaki değişiklikler işsizlik oranını etkilemektedir. Nitekim bu etki ters yönlüdür

Keywords

Petrol fiyatları, İşsizlik, Volatilite, VAR, Granger, Türkiye

The Effect on the Indicators of Unemployment of International Crude Oil Price Volatility: Empirical Findings on the Case of Turkey

Abstract

Oil prices may have an impact on economic activity through various transmission channels. A number of recent studies have emphasized the role of oil prices and macro-economic variables. The aim of this paper is to study the short-term/longterm relationship between oil prices and unemployment in Turkey. The most common cause of increasing oil prices over the last thirty years has been a decrease in supply. Prices increased during the early 1970s as OPEC reduced supply. Again prices increased in the late 1970s and early 1980s as the collapse of the government of the Shah of Iran and subsequent war between Iran and Iraq threatened supply. We applied Granger causal modals to determine if oil prices “Granger Caused” unemployment for data between 2005:01 and 2009:12 in Turkey. However, we performed Vector Autoregressive Model (VAR) to determine the relationship between to variables in question, to estimate these relationships and to determine the delay values. As a result, long-term relationship between oil prices and unemployment rate are available in Turkey, and changes in the unemployment rate do not affect oil prices, oil prices changes affect the unemployment rate (this effect is the opposite direction)

Keywords

Oil prices, Unemployment, Volatility, VAR, Granger, Turkey

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