KONUT FİYAT ENDEKSİ VE REEL DÖVİZ KURU İLİŞKİSİ: TÜRKİYE ÖRNEĞİ
HOUSING PRICE INDEX AND REAL EXCHANGE RATE RELATIONS: THE CASE OF TURKEY

Summary/Abstract: The aim of this study is to determine and analyse the relations between the housing sector, which is considered to be an important sector in the Turkish economy, and the exchange rate, an important macro variable for Turkey, by econometric methods. Dolado-Lütkepohl causality test was applied to the “house price index” and “real exchange rate” series for the analysis. Positive and negative components of the series were obtained to apply causality analysis. Thus, while the causality between these components was tested, the analysis was carried out at a more sensitive level with the asymmetric causality test method. As a result of the analysis, it has been concluded that the exchange rate is more effective on house prices in Turkey.

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