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Macroeconomic variables and the housing market in Turkey
Date
2007-09-01
Author
Sarı, Ramazan
AYDIN, Bahadir
Metadata
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Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
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This paper investigates the relation between housing starts and macroeconomic variables in Turkey from 1961 to 2000. The generalized variance decomposition approach is used to examine relations between housing market activity and prices, interest rates, output, money stock, and employment. In contrast to previous findings for developed countries, our results indicate that the monetary aggregate has a relatively more important and substantial effect on housing investment than does employment. Generally speaking, shocks to interest rates, output, and prices have noticeable effects on changes in the Turkish housing market.
Subject Keywords
General Economics, Econometrics and Finance
,
Finance
URI
https://hdl.handle.net/11511/39138
Journal
EMERGING MARKETS FINANCE AND TRADE
DOI
https://doi.org/10.2753/ree1540-496x430501
Collections
Department of Business Administration, Article
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R. Sarı and B. AYDIN, “Macroeconomic variables and the housing market in Turkey,”
EMERGING MARKETS FINANCE AND TRADE
, pp. 5–19, 2007, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/39138.