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

Roohollah Zare
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Roohollah Zare: Department of Economics, Beyza Branch, Islamic Azad University

Journal of Money and Economy, 2016, vol. 11, issue 4, 401-417

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

Keywords: Downward House Price Rigidity; Monetary Policy; Threshold GARCH; Asymmetric Cointegration; Error Correction Model (search for similar items in EconPapers)
Date: 2016
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