ISSN: 0137-3056


MoSaHE points:

13



Editor in chief:
prof. dr hab. Tomasz Żylicz
tzylicz@wne.uw.edu.pl

Editorial assistant:
Marta Höffner
ekonomia@wne.uw.edu.pl
(48) 22 55 49 184

Publisher:



Linear and Nonlinear Dynamics of Housing Price in Turkey

H. Karamelikli

ABSTRACT: Housing sector have an important size in economic activities of Turkey. This sector could absorb an important size of skilled and unskilled unemployed. Furthermore, decreasing rents would cause an increase in household savings because of lightening their basic expenditures. Therefore, having knowledge about the dynamics of housing prices is very crucial for economic policymakers. In this paper, the dynamics between house prices and macroeconomic variables including inflation, interest rate, unemployment and real domestic product are studied. Despite the well-known fact that macroeconomic variables possess asymmetric and nonlinear features, many studies about the dynamics of housing prices has been tested only within a linear framework. Therefore, in this paper non-linear autoregressive distributed lag (NARDL) model is used to explore asymmetrical relations in the long-run. Despite to most researches in this field, the effect of interest rate found with a negative sign. Negative effect of both nominal interest rate and inflation on housing prices alongside of greater impact of inflation in comparison with nominal interest rate, would cause the long-run coefficient of real interest rate be positive. Forethought can explain of the positive relation of the unemployment rate and housing prices.

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Issue number: 46

In this issue:

Introduction and Overview
A. Cieślik
ABSTRACT | PDF
Innovation Intensity as a Driver of Firm's Internationalization Intensity: Evidence for Poland
T. Brodzicki
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Regional Variation in the Public Sector Wage Premium in Poland
G. Grotkowska
ABSTRACT | PDF
Linear and Nonlinear Dynamics of Housing Price in Turkey
H. Karamelikli
ABSTRACT | PDF
When Does the Integration of Mitigation and Adaptation in the Land Use Sector Actually Makes Sense?
M. López Ramírez
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The Impact of Monetary Policy and Agent Heterogeneity on Firm Financing Structure: Evidence from the USA
A. Malinowska
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Educational Mismatches and Earnings in Poland: Are Graduates Penalised for Being Overeducated?
L. Wincenciak
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