Please use this identifier to cite or link to this item: https://hdl.handle.net/11499/8899
Title: House prices and the macroeconomic environment in Turkey: The examination of a dynamic relationship
Authors: Yildirim, M.O.
İvrendi, Mehmet
Keywords: House prices
Macroeconomic shocks
Structural VAR
Turkish housing market
Publisher: University of Belgrade
Abstract: The aim of this paper is to examine the dynamic relationship between house prices, income, interest rates, housing permits, and share prices in Turkey, using Structural Vector Autoregressive (SVAR) models. This paper uses both monthly and quarterly data for the Turkish economy and applies four different SVAR models to reveal this dynamic relationship over the 2003-2016 period. The results show statistically significant and substantial relationships between the variables. The analysis also shows that house prices and housing permits as housing market variables are very sensitive to monetary policy and income shocks. The key finding of the study for policymakers is that a change in mortgage rates is the factor that most changes house prices. The study also shows that the housing market plays an important role in transferring monetary policy to the real economy in Turkey. © 2017 University of Belgrade.
URI: https://hdl.handle.net/11499/8899
https://doi.org/10.2298/EKA1715081Y
ISSN: 0013-3264
Appears in Collections:İktisadi ve İdari Bilimler Fakültesi Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection

Files in This Item:
File SizeFormat 
0013-32641715081Y.pdf1.5 MBAdobe PDFView/Open
Show full item record



CORE Recommender

SCOPUSTM   
Citations

9
checked on Dec 14, 2024

Page view(s)

54
checked on Aug 24, 2024

Download(s)

36
checked on Aug 24, 2024

Google ScholarTM

Check




Altmetric


Items in GCRIS Repository are protected by copyright, with all rights reserved, unless otherwise indicated.