Determinants of housing inflation in Turkey: a conditional frequency domain causality

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dc.authoridKIRCA, MUSTAFA/0000-0002-5630-7525
dc.contributor.authorKirca, Mustafa
dc.contributor.authorCanbay, Serif
dc.date.accessioned2021-12-01T18:47:25Z
dc.date.available2021-12-01T18:47:25Z
dc.date.issued2021
dc.department[Belirlenecek]en_US
dc.description.abstractPurpose This study aims to investigate whether changes in consumer interest rate, exchange rate and housing supply have permanent effects on housing inflation in Turkey. Design/methodology/approach For this purpose, data from 2010M01 to 2020M06 and changes in consumer interest rate, exchange rate, housing supply and housing inflation were used. Relationships between variables are analyzed first by the Granger causality tests and then the conditional frequency domain causality tests. The conditional frequency domain causality test specifically reveals the permanent causality between variables, whether there is a permanent effect. Findings According to the Granger causality test results, there are causality relationships from changes in the consumer interest rate and exchange rate to housing inflation. However, there is no causality relationship between housing supply and housing inflation. According to the conditional frequency domain causality test results, there is causality for the permanent and mid-term from changes in the consumer interest rate to housing inflation and causality for the mid-term and temporary from changes in the exchange rate to housing inflation. Additionally, it was found that there are causality relationships between changes in the consumer interest rate and changes in the exchange rate. Research limitations/implications The first limit of the study is that only 2010M01-2020M06 months can be considered. Because the date that variables started common is 2010M01. Besides, there is a limit in the study in variables used. Many variables, both micro and macro, can be added to affect housing inflation. Originality/value Housing inflation is a remarkable issue in Turkey. There is an increase in the number of studies on the subject in recent years. For this reason, the study is trying to contribute by approaching the subject from a different angle. The most important contribution of the study is that it has not been investigated whether the determinants of housing inflation have permanent or temporary effects, which were not done in previous studies. In addition, the method used reveals how many months the effects of changes in exchange rates, consumer interest rates and housing supply on housing inflation last. Based on the findings obtained from the methods, important economic and political implications have been put forward in depth.en_US
dc.identifier.doi10.1108/IJHMA-02-2021-0013
dc.identifier.issn1753-8270
dc.identifier.issn1753-8289
dc.identifier.scopus2-s2.0-85107850921en_US
dc.identifier.scopusqualityQ2en_US
dc.identifier.urihttps://doi.org/10.1108/IJHMA-02-2021-0013
dc.identifier.urihttps://hdl.handle.net/20.500.12684/10263
dc.identifier.wosWOS:000662322000001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherEmerald Group Publishing Ltden_US
dc.relation.ispartofInternational Journal Of Housing Markets And Analysisen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectTurkeyen_US
dc.subjectHousing supplyen_US
dc.subjectReal exchange rateen_US
dc.subjectConditional frequency domain causalityen_US
dc.subjectConsumer interest rateen_US
dc.subjectHousing inflationen_US
dc.subjectMacroeconomic Variablesen_US
dc.subjectDynamic Relationshipen_US
dc.subjectUnit-Rooten_US
dc.subjectPricesen_US
dc.subjectRatesen_US
dc.subjectProspectsen_US
dc.subjectModelsen_US
dc.subjectMarketen_US
dc.subjectGreeceen_US
dc.subjectPolicyen_US
dc.titleDeterminants of housing inflation in Turkey: a conditional frequency domain causalityen_US
dc.typeArticleen_US

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