Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model
The influence of gross domestic product (GPD) on housing prices has been investigated in numerous studies but the influence of human capital shock on housing prices is a new subject. This article, which is an adoption of Young & Pan (2020) work), tried to investigate this subject and analyze the...
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| Format: | Article |
| Language: | fas |
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University of Sistan and Baluchestan
2021-12-01
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| Series: | اقتصاد باثبات و توسعه پایدار |
| Subjects: | |
| Online Access: | https://sedj.usb.ac.ir/article_6501_ef4b54c87f31efff5f971a2a5f4f2be5.pdf |
| _version_ | 1818487426140602368 |
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| author | Aliakbar Gholizadeh Shahla Samadipour |
| author_facet | Aliakbar Gholizadeh Shahla Samadipour |
| author_sort | Aliakbar Gholizadeh |
| collection | DOAJ |
| description | The influence of gross domestic product (GPD) on housing prices has been investigated in numerous studies but the influence of human capital shock on housing prices is a new subject. This article, which is an adoption of Young & Pan (2020) work), tried to investigate this subject and analyze the findings. The statistical population of this research includes the provinces of Iran and a period of 2012 to 2017 has been chosen as the research sample, retrieved from existing economic data. Panel vector autoregressive models were employed in order to analyze data. Obtained results from regression models depict that human capital has impulse effects on housing prices through channels. In other words, boosting/promoting human capital will increase the demand for housing and prices. The results of impulse response function (IRF) depicted that response of human capital (housing price) to fluctuations in housing prices (human capital) and the response of production to fluctuations in human capital is higher than other variables responses. The results of variance analysis illustrate that the housing prices can be explained better by gross domestic product (18%) and human capital (1%), better than other variables. Hence, the growth of the housing market can have a positive influence on the economy. It should be noted that the influence of housing market growth (production) on production (housing market growth) is significantly greater than human capital. |
| first_indexed | 2024-12-10T16:37:33Z |
| format | Article |
| id | doaj.art-f733a6f712b14a2fa9f3a14d11a0cfc3 |
| institution | Directory Open Access Journal |
| issn | 2783-1426 |
| language | fas |
| last_indexed | 2024-12-10T16:37:33Z |
| publishDate | 2021-12-01 |
| publisher | University of Sistan and Baluchestan |
| record_format | Article |
| series | اقتصاد باثبات و توسعه پایدار |
| spelling | doaj.art-f733a6f712b14a2fa9f3a14d11a0cfc32022-12-22T01:41:21ZfasUniversity of Sistan and Baluchestanاقتصاد باثبات و توسعه پایدار2783-14262021-12-0123315910.22111/sedj.2021.40368.11316501Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive modelAliakbar Gholizadeh0Shahla Samadipour1Economics, Faculty of economics and social Science, Bu-Ali Sina university, Hamedan, IranEconomics, Ph,D, candidate of economics and social Science Bu-Ali Sina university, Hamedan, IranThe influence of gross domestic product (GPD) on housing prices has been investigated in numerous studies but the influence of human capital shock on housing prices is a new subject. This article, which is an adoption of Young & Pan (2020) work), tried to investigate this subject and analyze the findings. The statistical population of this research includes the provinces of Iran and a period of 2012 to 2017 has been chosen as the research sample, retrieved from existing economic data. Panel vector autoregressive models were employed in order to analyze data. Obtained results from regression models depict that human capital has impulse effects on housing prices through channels. In other words, boosting/promoting human capital will increase the demand for housing and prices. The results of impulse response function (IRF) depicted that response of human capital (housing price) to fluctuations in housing prices (human capital) and the response of production to fluctuations in human capital is higher than other variables responses. The results of variance analysis illustrate that the housing prices can be explained better by gross domestic product (18%) and human capital (1%), better than other variables. Hence, the growth of the housing market can have a positive influence on the economy. It should be noted that the influence of housing market growth (production) on production (housing market growth) is significantly greater than human capital.https://sedj.usb.ac.ir/article_6501_ef4b54c87f31efff5f971a2a5f4f2be5.pdfhuman capitaleconomic growthhousing pricepanel vector autoregressive model |
| spellingShingle | Aliakbar Gholizadeh Shahla Samadipour Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model اقتصاد باثبات و توسعه پایدار human capital economic growth housing price panel vector autoregressive model |
| title | Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model |
| title_full | Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model |
| title_fullStr | Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model |
| title_full_unstemmed | Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model |
| title_short | Investigating the relationship between human capital shock, economic growth and housing prices using the panel vector autoregressive model |
| title_sort | investigating the relationship between human capital shock economic growth and housing prices using the panel vector autoregressive model |
| topic | human capital economic growth housing price panel vector autoregressive model |
| url | https://sedj.usb.ac.ir/article_6501_ef4b54c87f31efff5f971a2a5f4f2be5.pdf |
| work_keys_str_mv | AT aliakbargholizadeh investigatingtherelationshipbetweenhumancapitalshockeconomicgrowthandhousingpricesusingthepanelvectorautoregressivemodel AT shahlasamadipour investigatingtherelationshipbetweenhumancapitalshockeconomicgrowthandhousingpricesusingthepanelvectorautoregressivemodel |