The demand for new housing in Turkey: an application of ARDL model
AbstractThis study provides empirical estimates for new residential homes demand function in Turkey using the time series data for the period 1964â€“2004. An aggregate demand function for new private dwellings in Turkey is formed and is estimated using bounds testing cointegration procedure proposed by Pesaran et al. (2001) to compute the short and long-run elasticities of income and price variables. This study also implements Cumulative Sum (CUSUM) and Cumulative Sum of the Squares (CUSUMSQ) stability tests on the estimated new housing demand function. The empirical results indicate that income is the most significant variable in explaining the demand for new housing in Turkey and there exists a relatively stable new housing demand function.
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Bibliographic InfoArticle provided by Inderscience Enterprises Ltd in its journal Global Business and Economics Review.
Volume (Year): 9 (2007)
Issue (Month): 1 ()
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Web page: http://www.inderscience.com/browse/index.php?journalID=168
cointegration; housing demand; stability; income variables; Turkey; ARDL model.;
Other versions of this item:
- Ferda HALICIOGLU, 2005. "The Demand For New Housing In Turkey: An Application Of Ardl Model," Urban/Regional 0508002, EconWPA.
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