Housing Market Dynamics and Macroprudential Policy in Turkey: Evidence from an estimated DSGE model

Mustafa Ozan Yıldırım

No 10460, EcoMod2017 from EcoMod

Abstract: The aim of this paper is to observe the relation between the effects of macroprudential policy and housing collaterals on housing market fluctuations. The paper uses the Dynamic Stochastic General Equilibrium (DSGE) model for analysing the Turkish Housing Market. The DSGE model which is borrowed Iacoviello and Neri (2010) is estimated through Bayesian method. It can be said that housing market responds quickly to monetary shocks. To properly understand the monetary transmission mechanism, the effects of housing-related collateral constraints and their changing nature should be taken into account.

Keywords: Turkey; General equilibrium modeling (CGE); Monetary issues (search for similar items in EconPapers)
Date: 2017-07-04
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Persistent link: https://EconPapers.repec.org/RePEc:ekd:010027:10460

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