Dynamic linkages of current account deficits and unemployment: evidence from Turkey

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dc.citation.epage25en_US
dc.citation.issueNumber1en_US
dc.citation.spage1en_US
dc.citation.volumeNumber22en_US
dc.contributor.authorÖzer, M.en_US
dc.contributor.authorYeldan, A. E.en_US
dc.date.accessioned2019-02-07T07:26:41Z
dc.date.available2019-02-07T07:26:41Z
dc.date.issued2015en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractIn this paper, we empirically test the causal relationship between current accountdeficits and unemployment in Turkey over 2000Q1–2012Q1. Using Johansenco-integration and Granger-causality analyses based on a corresponding vector error correction model, we studied many alternative specifications of the nexus between unemployment and external deficits in an open macroeconomyenvironment. Our results reveal the presence of unidirectional causality runningfrom current account deficits to unemployment. Furthermore, based on theimpulse response variance decomposition analysis, we find that unemploymentexplains little variation of current account deficits, although current accountdeficits explain a substantial fraction of the variation in unemployment. Weinterpret these findings as evidence of the structural sources of unemployment being embedded under the deepening external fragility of the Turkish economyover the 2000s.en_US
dc.identifier.issn1561-882X
dc.identifier.urihttp://hdl.handle.net/11693/48989
dc.language.isoEnglishen_US
dc.publisherKaerntner Botanikzentrumen_US
dc.source.titleWulfenia Journalen_US
dc.subjectTurkeyen_US
dc.subjectCurrent account deficiten_US
dc.subjectUnemploymenten_US
dc.subjectUnit rooten_US
dc.subjectCointegration; Granger causality; VECMen_US
dc.subjectGranger causalityen_US
dc.subjectVECMen_US
dc.titleDynamic linkages of current account deficits and unemployment: evidence from Turkeyen_US
dc.typeArticleen_US

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