The Effects of Oil Prices Changes on Output Growth and Inflation: Evidence from Turkey

摘要: This paper investigates the effects of oil price changes on output and inflation for case Turkey using monthly time series data period 1990:1–2012:3. Recent studies suggest that may have asymmetric macroeconomic variables. To account effects, we decompose into positive negative parts following Hamilton (1996). Our results show while increases clear growth, impact decline is insignificant. Similarly, significant inflation. However, declines not a effect The Granger causality tests also support these results.