ASYMMETRIC RELATIONSHIP BETWEEN OIL PRICE AND EXCHANGE RATE: THE CASE OF ROMANIA

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Fırat Üniversitesi Sosyal Bilimler Dergisi
Volume:28 Issue:1
ASYMMETRIC RELATIONSHIP BETWEEN OIL PRICE AND EXCHANGE RATE: THE CASE OF ROMANIA

ASYMMETRIC RELATIONSHIP BETWEEN OIL PRICE AND EXCHANGE RATE: THE CASE OF ROMANIA

Pages : 143-154

View : 15 | Download : 11

Publication Date : 2018-01-31

Article Type : Research Paper

Abstract :The fragile structure of the global economy in the last decades makes it necessary for policy makers to have consistent predictions on the future values of the commodities and assets and also exchange rates. The fact that it is still the biggest source of energy, oil, has a crucial importance for the real economy and even financial markets. In this study, the relation of the real oil price and the real exchange rate in Romania will be investigated for the period of 2004:4 to 2014:10 using monthly data. Results in the tests suggest that Romania should consider the real oil price and real exchange rate causality due to the fact that there is a significant causality between the variables.
Keywords : Oil Prices, Exchange Rate, Romania, Asymmetric Causality

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