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http://hdl.handle.net/20.500.12323/4553| Title: | The Impact of Oil Prices on Inflation: The Case of Azerbaijan |
| Authors: | Mukhtarov, Shahriyar Mammadov, Jeyhun Ahmadov, Fariz |
| Keywords: | Oil Price Exchange Rate Vector Error Correction Model Azerbaijan |
| Issue Date: | Jul-2019 |
| Publisher: | International Journal of Energy Economics and Policy |
| Series/Report no.: | Vol 9;Issue 4 |
| Abstract: | This paper investigates the relationship between ination, oil prices and exchange rate in Azerbaijan using the vector error correction model (VECM) to the data ranging from 1995 to 2017. The results from cointegration method conrm the existence of a long-run relationship among the variables. Moreover, estimation results of VECM show that the oil prices and exchange rate have positive and statistically signicant impact on ination in the long-run. This implies that 1% increase in oil prices and exchange rate increases ination by 0.58% and 1.81%, respectively. The results of the study also reveal that ination is observed during the periods of both high and low oil prices, and the exchange rate acts as the transmission channel from oil prices to ination. |
| URI: | http://hdl.handle.net/20.500.12323/4553 |
| ISSN: | 2146-4553 |
| Appears in Collections: | Publications |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| The Impact of Oil Prices on Inflation- The Case of Azerbaijan.pdf | 683.72 kB | Adobe PDF | View/Open |
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