ISSN: 1308-6200 | Publisher: Kültür Ajans 

Karadeniz International Scientific Journal

This is an internationally refereed social science journal that is published every three months (quarterly) in electronic-based and print-based since 2009. The journal publishes four issues each year (March, June, September, and December).

The publication language of this journal is Turkish, English, or Russian.

This is an open-access journal. Therefore, all issues and articles published so far can be accessed free of charge from the journal's website.

 

Issue 39
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THE CAUSALITY RELATIONSHIP BETWEEN TURKEY HOUSE PRICE INDEX, LEVEL BASED HOUSE PRICE INDEX AND SELECTED VARIABLES

Gökben Adana KARAAĞAÇ

Serpil ALTINIRMAK

This study investigated the causality relationship that exists between the Turkey House Price Index and TR10, TR31 TR51, TR31, TR22, TR61, TRC1, TRC2, TRC3, TRA1 and TRA2 level regional house price indexes, and the industrial production index, consumer price index, consumer confidence index, exchange rate, employment and unemployment. According to the results of the Granger Causality test, there is a bidirectional causality relationship between the Turkey House Price Index and the consumer confidence index; a unidirectional causality relationship from the Turkey House Price Index to employment and the industrial production index; and a unidirectional causality relationship from the consumer price index to the Turkey House Price Index. The direction of the relationships of the level-based regional house price indexes and the other variables were found to change with the regions. Causality relationships in different directions were found between levelbased house price indexes and the variables for different indexes including consumer confidence index and employment in the region TR10; consumer price index in region TR31; industrial production index in region TR51; employment, unemployment and consumer price index in region TR21; industrial production index in region TR22; employment index in region TR61; consumer price index in region TRC1; employment, consumer confidence index and industrial production index in region TRC2; industrial production index and consumer confidence index in region TRC3; consumer confidence index in region TRA1 and consumer confidence index in region TRA2.

Keywords: Turkey House Price Index, Level Based House Price Index, Granger Causality Test, Industrial Production Index, Consumer Price Index, Exchange Rate

 

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