Investigation of the Relationship Between Misery Index and Some Macroeconomic Factors in Turkey: Hacker and Hatemi-J (2006) Causality Test

Authors : İrfan Ersin

Pages : 119-128

View : 55 | Download : 96

Publication Date : 2024-12-30

Article Type : Research Paper

Abstract :The misery index consists of the sum of the inflation rate and the unemployment rate. This index was used by Arthur Okun in 1970 and was taken into account as an indicator of economic welfare. The aim of this study is to examine the relationship between the misery index and some macroeconomic variables in Turkey between the 2020-2022 period. This Hacker and Hatemi-J (2006) Causality tests were used. According to the analysis results, causality was determined from domestic credit volume, nominal exchange rate and deposit interest rates to the misery index. It has been suggested that the CBRT should be sensitive in its monetary policy practices in reducing the misery index.
Keywords : let Endeksi, İktisadi Joşnutsuzluk Endeksi, Enflasyon, Makroekonomik Faktörler