Inflationary Effects of Oil Prices in Turkey: A Regime-Switching Approach

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dc.contributor.authorCatik, A. Nazif
dc.contributor.authorOnder, A. Ozlem
dc.date.accessioned2019-10-27T21:36:47Z
dc.date.available2019-10-27T21:36:47Z
dc.date.issued2011
dc.departmentEge Üniversitesien_US
dc.description.abstractThis paper investigates the existence of oil pass-through to inflation for Turkey covering the period February 1996-May 2007. Oil price-augmented Phillips curves are estimated with linear and Markov regime-switching models. Markov regime-switching models reveal the asymmetric structure of oil pass-through and indicate the existence of two different regimes characterized as the high- and the low-inflation periods. We find evidence for asymmetric oil pass-through in the high- inflation regime for headline and food- and energy-excluded inflation measures. Our results suggest that Jarque-Bera core inflation is not affected by oil price variations under either inflationary environment. Hence, we suggest the Jarque-Bera indicator as an intermediate target in the analysis of the future trend of inflation.en_US
dc.identifier.doi10.2753/REE1540-496X470506
dc.identifier.endpage140en_US
dc.identifier.issn1540-496X
dc.identifier.issn1540-496Xen_US
dc.identifier.issue5en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage125en_US
dc.identifier.urihttps://doi.org/10.2753/REE1540-496X470506
dc.identifier.urihttps://hdl.handle.net/11454/46117
dc.identifier.volume47en_US
dc.identifier.wosWOS:000298163000007en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherM E Sharpe Incen_US
dc.relation.ispartofEmerging Markets Finance and Tradeen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectinflationen_US
dc.subjectMarkov regime-switching modelsen_US
dc.subjectoil shocksen_US
dc.subjectpass-throughen_US
dc.titleInflationary Effects of Oil Prices in Turkey: A Regime-Switching Approachen_US
dc.typeArticleen_US

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