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:: 2, Issue 3 (quarterly journal modern theories of economy,vol2,no.3,(ser4),dec,2014 2014) ::
TFI 2014, 2(3): 55-94 Back to browse issues page
Analyzing effects of monetary policy shocks on the variables in the housing sector
Jahangir Biabani * , Gholamreza Yavari , Gholamreza Nemati
Abstract:   (1248 Views)
This study examines the impact of monetary shocks to the housing economy, it pays In this regard, the long run structural vector model (SVAR) based on data from years 91-1376 seasonally used. The results show that instantaneous response functions, shock to the money supply significantly increases the   housing market variables except the variable "facilities housing sector" is. Variables, residential investment, land price index and housing price index, based on responses of the research findings have fairly similar to a monetary policy shock. Entered into an interest rate shock increase housing costs and reduce short-term investments and long-term residential land price index and the increase of these two variables. , And its effect on the variables and run the facilities for housing rent index was positive and significant effect on interest rates, but there are no facilities for housing.The analysis of variance showed a significant share of the money supply, the amount of variance in the housing market, with the exception of the variable "facilities granted to the housing sector," explains a small portion of the interest rate, the amount of variance explained in the housing market.
 
Keywords: variable housing, monetary shock, SVAR
Full-Text [PDF 2124 kb]   (290 Downloads)    
notification: Research | Subject: Special
Received: 2014/09/28 | Accepted: 2014/12/7 | Published: 2014/09/23
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Biabani J, Yavari G, Nemati G. Analyzing effects of monetary policy shocks on the variables in the housing sector. TFI 2014; 2 (3) :55-94
URL: http://tfe.raja.ac.ir/article-1-47-en.html


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2, Issue 3 (quarterly journal modern theories of economy,vol2,no.3,(ser4),dec,2014 2014) Back to browse issues page
فصلنامه نظریه های اقتصاد مالی فصلنامه نظریه های اقتصاد مالی
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