Testing Causal Relationships between Energy Consumption Real Income and Prices Evidence from Turkey
Yazarlar (2)
Prof. Dr. Cem Saatcioğlu İstanbul Üniversitesi, Türkiye
Doç. Dr. Hüseyin Levent KORAP Kastamonu Üniversitesi, Türkiye
| Makale Türü |
Özgün Makale
(Ulusal alan endekslerinde (TR Dizin, ULAKBİM) yayınlanan tam makale)
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| Dergi Adı | Beykent Üniversitesi Sosyal Bilimler Dergisi | ||
| Dergi Tarandığı Indeksler | ulakbim | ||
| Makale Dili | İngilizce | Basım Tarihi | 01-2007 |
| Cilt / Sayı / Sayfa | – / 1 / 1–29 | DOI | – |
| Özet |
| Jıı this paper, we examine the causal relationship amongst changes in energy consumption, realincome growth and domestic inflation within the conditions of Turkish economy. Based on acontemporaneous multivariate co-integrating estimation methodology, our estimation resultsindicate that a distinction between various categories of enei'gy consumption needs to l>e made inorder for the causality issues of interest to be elucidated. We find as a vital point to be emphasizedthat domestic inflationary framework is highly endogenous to all the model constructions and thussubject to the changes in especially enei'gy consumption. It is also significant that there seems tobe a long-ran causal relationship between the variables when the levels of industrial consumptionare used as the relevant enei'gy consumption data since they have highly endogenouscharacteristics against each other within the causality analysis. We conclude that energy policiesex-ante designed have the power of affecting domestic inflation significantly. We also suggestthat, for the case of industrial energy consumption data, energy conservation policies may lead toharmful results for the real income growth process though the latter issue is not the relevant casefor the residential and commercial enei'gy consumption and total enei'gy consumption data. |
| Anahtar Kelimeler |
