Food inflation in Kazakhstan

This paper assesses empirically the effects of real oil price shocks on the food inflation in Kazakhstan for the monthly period 2004-2019 by using a VAR model. Standard unit root tests do not yield reliable results in the presence of breaks. In this regard, Zivot and Andrews (1992) has been tested with the help of unit root test. Food prices have been proven to be I (1) according to the Zivot and Andrews (1992) test, while I (0) is according to the ADF test. In subsequent steps, the causality test of the variables was performed.

7p caygaocaolon11 18-04-2021 18 2   Download