Assist. Prof. Ali Çelik from Istanbul Gelisim University, Department of International Trade and Logistics article titled "Analysis of the Determinants of Inflation in Turkey by VAR Method (2008-2019)" was published in the August issue of the Izmir Journal of Economics published by Dokuz Eylül University, which started its publication life in 1986.
The aim of the study is to investigate the determinants of inflation for Turkey after 2008. In order to determine the relationship between the variables, monthly data covering the period 2008:1-2019:12 are tested by time series analysis. According to Johansen cointegration analysis, the series are cointegrated in the long run. Granger causality test results indicate that there is a bidirectional causality relationship between CPI and crude oil and natural gas prices, real effective exchange rate and domestic credit volume. However, there is a unidirectional causality relationship from CPI to money supply and policy interest rate, while there is a unidirectional causality relationship from PPI and interest rate on bank deposits to CPI. In addition, impulse-response functions and variance decomposition results based on VAR analysis are evaluated.
