{"title":"The dynamics of house prices and fiscal policy shocks in Turkey","authors":"Mustafa Yıldırım Ozan, Ö. Filiz","doi":"10.2298/EKA1920039O","DOIUrl":null,"url":null,"abstract":"This study examines the interaction between house prices and gov-ernment spending, mortgage interest rates, and gross domestic product in Turkey. The ARDL bounds test approach is applied to quarterly data covering the 2010:1–2017:4 period. Findings indicate that there is a statistically significant long-run and short-run cointegration between the two house price indexes and government spending, mortgage rates, and GDP. An increase in government spending has a statistically sig-nificant positive effect on house prices. The study also indicates that mortgage interest rate and GDP have a statistically signifi-cant effect on house prices.","PeriodicalId":35023,"journal":{"name":"Economic Annals","volume":"1 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"7","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Annals","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2298/EKA1920039O","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 7
Abstract
This study examines the interaction between house prices and gov-ernment spending, mortgage interest rates, and gross domestic product in Turkey. The ARDL bounds test approach is applied to quarterly data covering the 2010:1–2017:4 period. Findings indicate that there is a statistically significant long-run and short-run cointegration between the two house price indexes and government spending, mortgage rates, and GDP. An increase in government spending has a statistically sig-nificant positive effect on house prices. The study also indicates that mortgage interest rate and GDP have a statistically signifi-cant effect on house prices.
Economic AnnalsEconomics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
0.90
自引率
0.00%
发文量
6
审稿时长
18 weeks
期刊介绍：
Economic Annals is an academic journal that has been published on a quarterly basis since 1955, initially under its Serbian name of Ekonomski anali (EconLit). Since 2006 it has been published exclusively in English. It is published by the Faculty of Economics, University of Belgrade, Serbia. The journal publishes research in all areas of economics. The Editorial Board welcomes contributions that explore economic issues in a comparative perspective with a focus on transition and emerging economies in Europe and around the world. The journal encourages the submission of original unpublished works, not under consideration by other journals or publications. All submitted papers undergo a double blind refereeing process. Authors are expected to follow standard publication procedures [Instructions to Authors], to recognise the values of the international academic community and to respect the journal’s Policy.
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