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Dergiler / Central Bank Review / 2017 / Cilt: 17 - Sayı: 3

The effect of house price changes on cohort consumption in Turkey

Evren CERİTOĞLU
Sayfa
99–110
DOI
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⚡ TL;DR(1 Cümlede Hızlı Çıkarım)

Therefore, our empiricalŞndings are in favor of the wealth channel argument.

📌 3 Maddede Bu Makale

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Amaç & Hipotez:This paper analyzes the relationship between house prices and household consumption in Turkey.
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Temel Bulgular & Veri:Weutilize twelve consecutive waves of the Turkish Statistical Institute (TURKSTAT) Household Budget Surveys (HBS) from 2003 to 2014.
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Sonuç & Katkı:Therefore, our empiricalŞndings are in favor of the wealth channel argument.
🔬Tür:Laboratuvar & Saha Deneyi
📍Kapsam:2003 Verileri
⚙️Değişkenler:Alan Parametreleri

Abstract

This paper analyzes the relationship between house prices and household consumption in Turkey. Weutilize twelve consecutive waves of the Turkish Statistical Institute (TURKSTAT) Household Budget Surveys (HBS) from 2003 to 2014. We construct a pseudo-panel data set using birth-year cohorts followingDeaton (1985). WeŞnd that house price changes have a positive and signiŞcant effect on the growth ofcohort consumption. Moreover, the effect of house price changes is stronger for home-owners and itintensiŞes as we move from young cohorts to old cohorts. We observe that there is a marginally signiŞcant and relatively weak relationship between the growth of cohort consumption and house pricechanges for tenants. However, our pooled sample set is restricted to young and middle-aged cohorts fortenants. In addition, weŞnd that the rise of home-ownership ratio increases the growth of cohortconsumption, while the spread of having outstanding housing debt depresses the growth of cohortconsumption. Therefore, our empiricalŞndings are in favor of the wealth channel argument.

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Bu Makaleye Atıf Yap

CERİTOĞLU, E. (2017). The effect of house price changes on cohort consumption in Turkey. Central Bank Review, Cilt: 17 - Sayı: 3, 99–110. https://ajindex.com/articles/143844

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Kaynakça (2)

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