Show simple item record

dc.contributor.authorBerument, Hakanen_US
dc.contributor.authorTaşçı, H.en_US
dc.date.accessioned2016-02-08T10:31:13Z
dc.date.available2016-02-08T10:31:13Z
dc.date.issued2002en_US
dc.identifier.issn0378-4371
dc.identifier.urihttp://hdl.handle.net/11693/24566
dc.description.abstractIt is generally acknowledged that changes in oil prices affect economic welfare in ways that are not entirely reflected in transactions in the oil market. In this article, by using the 1990 input-output table, the inflationary effects of crude oil prices are investigated for Turkey. Under fixed nominal wages, profits, interest and rent earnings, the effect of increasing prices of oil on inflation is limited. However, when wages and the other three factors of income (profit, interest and rent) are adjusted to the general price level that includes the oil price increases, the inflationary effect of oil prices becomes significant. Hence, indexation could have very severe effects on an economy when oil prices increase and, in some cases, could even lead to hyperinflation. © 2002 Elsevier Science B.V. All rights reserved.en_US
dc.language.isoEnglishen_US
dc.source.titlePhysica A : Statistical Mechanics and its Applicationsen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/S0378-4371(02)01025-7en_US
dc.subjectInflationen_US
dc.subjectInput-output analysisen_US
dc.subjectOil pricesen_US
dc.subjectEconomic and social effectsen_US
dc.subjectFinanceen_US
dc.subjectIndustrial economicsen_US
dc.subjectWagesen_US
dc.subjectInflationary effectsen_US
dc.subjectPetroleum industryen_US
dc.titleInflationary effect of crude oil prices in Turkeyen_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.citation.spage568en_US
dc.citation.epage580en_US
dc.citation.volumeNumber316en_US
dc.citation.issueNumber1-4en_US
dc.identifier.doi10.1016/S0378-4371(02)01025-7en_US
dc.publisherElsevier BVen_US
dc.contributor.bilkentauthorBerument, Hakan
dc.identifier.eissn1873-2119


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record