IDEAS home Printed from https://ideas.repec.org/a/eur/ejmejr/59.html
   My bibliography  Save this article

VECM Analysis to House Price Index. Case of Tirana

Author

Listed:
  • Egerta Marku

    (PhD in Finance, Lecturer in Department of Finance, Faculty of Economy, University of Tirana)

  • Llesh Lleshaj
  • Arjana Lleshaj

Abstract

This paper analyzes long-run equilibrium of “house price index” in Tirana (the capital city of Albania) achieved by the long-run performance of macroeconomic factors.We have used the techniques and analysis of linear multiple regression by VECM (vector error correction model), to identify endogenous factors, that effect the stability of “house price index”. The analyze is based on data series 2010-2018 (with 3-month frequency), with independent variables: mortgage loan, interest rate on long-term loans, construction cost index, EUR/ALL exchange rate, house price index with lag(1).We conclude that all these independent variable (expect EUR/ALL exchange rate) are statistically significant, in long-run equilibrium and in the elasticity assessment of “house price index”.

Suggested Citation

  • Egerta Marku & Llesh Lleshaj & Arjana Lleshaj, 2020. "VECM Analysis to House Price Index. Case of Tirana," European Journal of Marketing and Economics Articles, Revistia Research and Publishing, vol. 3, January -.
    • Handle: RePEc:eur:ejmejr:59
    DOI: 10.26417/ejme.v3i1.p19-30
    as

    Download full text from publisher

    File URL: https://revistia.org/index.php/ejme/article/view/5267
    Download Restriction: no
    File URL: https://revistia.org/files/articles/ejme_v3_i1_20/Marku.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.26417/ejme.v3i1.p19-30?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eur:ejmejr:59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Revistia Research and Publishing (email available below). General contact details of provider: https://revistia.org/index.php/ejme .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.