The purpose of this study is to examine the relationship between energy prices and inflation in Turkey, Germany, the United Kingdom, France, and Italy from 1999:1 to 2019:12 using the Bounds Testing methodology. The study's empirical findings show that there are statistically significant incomplete pass-through effects from the exchange rate and/or energy price into domestic prices represented by consumer price indices in all countries. The exchange rate pass-through effect is relatively stronger in Germany and Turkey, and changes in international oil prices only have a positive impact on domestic energy prices in those countries. It is also concluded that changes in domestic energy prices have a positive impact on the domestic price level in all the countries under consideration, with the exception of Turkey.
Primary Language | Turkish |
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Journal Section | 2021:1 Makaleler |
Authors | |
Publication Date | November 15, 2021 |
Published in Issue | Year 2021 Volume: 2021 Issue: 1 |