THE DEMAND FOR NEW HOUSING IN TURKEY: AN APPLICATION OF ARDL MODEL

Ferda Halicioglu

Urban/Regional from University Library of Munich, Germany

Abstract: This study provides empirical estimates for new residential homes demand function in Turkey using the time series data for the period 1964-2004. 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 CUSUM and 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.

Keywords: Demand for new housing; ARDL; stability; Turkey (search for similar items in EconPapers)
JEL-codes: R (search for similar items in EconPapers)
Pages: 10 pages
Date: 2005-08-01
New Economics Papers: this item is included in nep-ure
Note: Type of Document - pdf; pages: 10
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Citations: View citations in EconPapers (8)

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Related works:
Journal Article: The demand for new housing in Turkey: an application of ARDL model (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpur:0508002

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