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House Price Rigidity and the Asymmetric Response of Housing Prices to Monetary Policy in Iran

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  • Zare, Roohollah

    (Department of Economics, Beyza Branch, Islamic Azad University)

Abstract

This paper examines downward price rigidity in Iranian house market and discusses whether this characteristic would result in an asymmetric relationship between house price and monetary policy. To test the downward house price rigidity the threshold GARCH model is employed. The asymmetric adjustment to monetary policy is examined using the

Suggested Citation

  • Zare, Roohollah, 2016. "House Price Rigidity and the Asymmetric Response of Housing Prices to Monetary Policy in Iran," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 11(4), pages 401-417, October.
    • Handle: RePEc:mbr:jmonec:v:11:y:2016:i:4:p:401-417
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