Analyzing the Growth of Land and Housing Prices and their Relationship with Some Macroeconomic Variables in Iran
| Autor: | Abbas Shakeri, Elnaz Bagherpur Oskouie |
|---|---|
| Jazyk: | perština |
| Rok vydání: | 2022 |
| Předmět: | |
| Zdroj: | Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, Vol 22, Iss 87, Pp 7-38 (2022) |
| Druh dokumentu: | article |
| ISSN: | 1735-210X 2476-6453 |
| DOI: | 10.22054/joer.2023.74291.1139 |
| Popis: | This study utilizes the continuous wavelet transform approach and time-frequency domain analysis to shed new light on the causal relationship between land, housing prices, liquidity , and economic growth. According to the results of the research: 1) In the short term (12-month cycle), the relationship between housing/land prices and liquidity is two-way and direct, while in lower frequencies (long-term), a direct causal relationship from liquidity to the growth of housing/land prices is evident. 2) Analysing the dynamics of the causal relationship between housing/land prices and economic growthindicates a long-term causal relationship between these variables. 3) In the medium and long term, a stable, strong, and in-phase relationship exists between the ratio of liquidity to GDP and the ratio of the housing price index to the price index. This implies that when the liquidity-to-GDP ratio increases, leading to a higher influx of liquidity into the land and housing sector, the housing price index surpasses the overall price index. |
| Databáze: | Directory of Open Access Journals |
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