Volume 1, Issue 1 (10-2010)
jemr 2010, 1(1): 187-211 |
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Beheshti M B, Mohseni Zonuzi F S. Investigation of housing market in Iran through using monetary transition mechanism. jemr 2010; 1 (1) :187-211
URL: http://jemr.khu.ac.ir/article-1-198-en.html
URL: http://jemr.khu.ac.ir/article-1-198-en.html
Abstract: (31041 Views)
In the late 1990s and early 21 century there has been a very big rise in the price of housing in most countries including the United States and Japan. The same trend occurred in Iran in the years after the Iran-Iraq war and has continued up to the present. Housing in Iran has always had a mutual relationship with economic fluctuations including monetary policies. Thus the impact of housing on Iran’s economy is significant. In this applied- analytical research, the aim is to investigate the monetary transmission mechanism in the housing market in Iran during the years 1988-2006 by using a SVAR eight- variable model and seasonal data.
The research found that the expansionary-monetary shock policy, which is the result of liquidity shock, has had a significant impact on housing prices lasting for 3 years at a time. Meanwhile, the price of housing explains about 20 per cent of the GDP changes in the study period.
Type of Study: بنیادی |
Subject:
پولی و مالی
Received: 2011/04/10 | Accepted: 2013/03/6 | Published: 2013/03/6
Received: 2011/04/10 | Accepted: 2013/03/6 | Published: 2013/03/6
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