Housing Market Activity and Macroeconomic Variables: An Analysis of Turkish Dwelling Market Under New Mortgage System
Istanbul University - Faculty of Business Administration, Department of Finance
affiliation not provided to SSRN
February 4, 2009
Istanbul University Journal of the School of Business Administration, Vol. 38, No. 1, pp. 38-46, 2009
The primary purpose of this paper is to examine dynamic causal relationships between housing market activity (construction permits for private use) and six determinants, including consumer price index (CPI), monetary aggregate (M2), interest rate (IR), industrial production index (IPI), real estate investment trusts’ indices (REITIX) and volume of mortgage loans (ML), in Turkish dwelling market under new mortgage system. Granger causality tests, impulse response functions and variance decomposition models are utilized for the period 2002 to 2007.
Number of Pages in PDF File: 9
Keywords: Housing Investment; Granger Causality Tests, Variance Decomposition Models
JEL Classification: R10, R20, R30Accepted Paper Series
Date posted: February 6, 2012
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo1 in 0.391 seconds