Volume 9, Issue 36 (Fall 2021)                   IUESA 2021, 9(36): 95-112 | Back to browse issues page

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Sadeghi Shahdani ‬‬‬‬‬‬‬‬‬‬ ‪, Sezavar M, Khazaei A, eslamiyan M. Impact of Market Developments on the Urban Housing Market in Iran: Emphasizing the uncertainty about the price of the gold market. IUESA 2021; 9 (36) :95-112
URL: http://iueam.ir/article-1-1779-en.html
Impact of Market Developments on the Urban Housing Market in Iran: Emphasizing the uncertainty about the price of the gold market
‪Mahdi Sadeghi Shahdani ‬‬‬‬‬‬‬‬‬‬1 , Mohammadreza Sezavar * 2, Alireza Khazaei3 , Mojtaba Eslamiyan4
1- Faculty of Islamic Studies and Economics, Imam Sadiq (Pbuh) University, Tehran, Iran
2- Faculty of Economics and Political Science, Sheid Beheshti University, Tehran, Iran , mr.sezavar@yahoo.com
3- Faculty of Economics and Political Science, Sheid Beheshti University, Tehran, Iran
4- Faculty of Economics, Allameh Tabataba'i University, Tehran, Iran
Abstract:   (1248 Views)
The housing sector is one of the major economic sectors that has a wide relationship with other economic sectors in terms of its past and previous relationships and is affected by the developments of other sectors and affects them. Meanwhile, the gold market is one of the important economic sectors that has always influenced the movement of housing sector variables. In this study, regarding the impact of the gold market on the housing sector, the impact of the housing sector on the uncertainties of the gold market and its long-term trend as a replacement for the urban housing sector has been investigated. For this purpose, money, currency, stock and gold markets have been considered as parallel markets and the oil market as a market affecting the Iranian economy and have been studied using quarterly data from 1371 to 1397. The results of the HEGY seasonal unit root test showed that the time series of the present study have a seasonal unit root. Gold market uncertainty is also extracted using the conditional heterogeneity variance model of asymmetric generalized autoregression, which is more flexible than the family of conditional heterogeneity variance self-return models for modeling time series data. According to the elastic values of the model variables, the most important factor affecting the housing index, respectively the variables of fluctuations in the gold market, has been GDP. Among these, the basic role of the two variables of exchange rate and liquidity is also important.
Keywords: Housing Market, Foreign Exchange Market, Money Market, Stock Market, Oil Price, Uncertainty about the Gold Market
Full-Text [PDF 550 kb]   (437 Downloads)    
Type of Study: Research | Subject: Special
Received: 2021/02/14 | Accepted: 2021/03/17 | Published: 2021/12/6 | ePublished: 2021/12/6
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