Oil price shocks and the composition of current account balance
Yıl: 2020 Cilt: 20 Sayı: 1 Sayfa Aralığı: 1 - 8 Metin Dili: İngilizce İndeks Tarihi: 29-07-2022
Oil price shocks and the composition of current account balance
Öz: It is a well-established regularity that permanent oil price shocks do not have a permanent effect on thecurrent account deficit. This requires that sub-components of the current account or trade balance willmake the necessary adjustments to accommodate the higher energy bill of a country triggered by permanentcrude oil price increases. Empirical evidence gathered from Turkey reveals that, in the long run,balancing the current account is provided by a permanent increase in the net exports of AgriculturalProduction, Maintenance and Repair Services, Travel, Construction, Financial Services, Compensation ofEmployees, and Goods under Merchanting (non-tradable components of the current account balance);and a permanent decrease in the net exports of Mining, Fishery, Other Goods for BEC Classification,Investment Income, Manufacturing Services on Physical Inputs Owned by Others, and Transport balancesmostly in sectors that use energy heavily in production. All these responses are found to be statisticallysignificant in the more than 24 periods we consider in this study.
Anahtar Kelime: Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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| APA | Varlık S, Berument H (2020). Oil price shocks and the composition of current account balance. , 1 - 8. |
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| APA | Varlık S, Berument H (2020). Oil price shocks and the composition of current account balance. Central Bank Review, 20(1), 1 - 8. |
| Chicago | Varlık Serdar,Berument Hakan Oil price shocks and the composition of current account balance. Central Bank Review 20, no.1 (2020): 1 - 8. |
| MLA | Varlık Serdar,Berument Hakan Oil price shocks and the composition of current account balance. Central Bank Review, vol.20, no.1, 2020, ss.1 - 8. |
| AMA | Varlık S,Berument H Oil price shocks and the composition of current account balance. Central Bank Review. 2020; 20(1): 1 - 8. |
| Vancouver | Varlık S,Berument H Oil price shocks and the composition of current account balance. Central Bank Review. 2020; 20(1): 1 - 8. |
| IEEE | Varlık S,Berument H "Oil price shocks and the composition of current account balance." Central Bank Review, 20, ss.1 - 8, 2020. |
| ISNAD | Varlık, Serdar - Berument, Hakan. "Oil price shocks and the composition of current account balance". Central Bank Review 20/1 (2020), 1-8. |
