Page 41 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.78, # 2, 2021, pp. 17-42

Appendix A4

Table 4a: Variance decomposition of aggregate CPI
Period Oil revenue TP_CPI NEER CPI

1 3.2 11.3 25.8 59.7
2 9.0 10.8 30.8 49.4
3 13.3 10.5 30.1 46.1
4 13.4 10.4 30.5 45.7
5 13.4 10.5 30.5 45.6
6 13.5 10.6 30.4 45.5
7 13.5 10.6 30.4 45.5
8 13.5 10.6 30.4 45.4
9 13.5 10.6 30.4 45.5
10 13.5 10.6 30.4 45.5
11 13.5 10.6 30.4 45.5
12 13.5 10.6 30.4 45.5
Cholesky ordering: oil revenue, tp cpi, neer, aggregate cpi

Table 4b: Variance decomposition of Food CPI
Period Oil revenue TP_CPI NEER Food CPI

1 3.5 18.6 21.4 56.5
2 10.3 17.0 26.3 46.4
3 13.2 16.3 26.6 43.9
4 13.2 16.2 27.0 43.6
5 13.2 16.3 27.0 43.5
6 13.2 16.4 27.0 43.4
7 13.3 16.4 27.0 43.3
8 13.3 16.4 27.0 43.3
9 13.3 16.4 27.0 43.3
10 13.3 16.4 27.0 43.3
11 13.3 16.4 27.0 43.3
12 13.3 16.4 27.0 43.3
Cholesky ordering: oil revenue, tp cpi, neer, food cpi

41