World oil prices, precious metal prices and macroeconomy in Turkey

@inproceedings{Soytas2009WorldOP,
  title={World oil prices, precious metal prices and macroeconomy in Turkey},
  author={Ugur Soytas and R. Yosi Aprian Sari and Shawkat M. Hammoudeh and Erk Hacihasanoğlu},
  year={2009}
}
We examine the long- and short-run transmissions of information between the world oil price, Turkish interest rate, Turkish lira-US dollar exchange rate, and domestic spot gold and silver price. We find that the world oil price has no predictive power of the precious metal prices, the interest rate or the exchange rate market in Turkey. The results also show that the Turkish spot precious metals, exchange rate and bond markets do not also provide information that would help improve the… CONTINUE READING

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