The Relationship Between Investment in Housing Sector and Business Cycles During 1959-2006 in Iran
Author(s):
Abstract:
In this article, the effect of investment in housing sector on business cycles in Iran economy during 1959 to 2006 will be investigated. At first, by using gross domestic product variable, the long run trend and business cycle in Iran is going to be found out by Hodrick-Prescott filter and then VAR model and impulse response function to study the effects of housing sector investment shock and the number of affecting periods on business cycle. The results represent that: 1- run test indicates that the gross domestic product’s fluctuations in Iran follow a regular pattern and they can be studied in business cycle patterns and 2- investment in housing sector can anticipate the future business cycle fluctuations and a positive shock may affect business cycle for 3 years.
Keywords:
Language:
Persian
Published:
Quarterly Journal of Economic Modelling, Volume:5 Issue: 1, 2011
Pages:
125 to 144
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