THE CAUSALITY RELATIONSHIPS BETWEEN MONEY, DISAGGREGATED CREDITS, HOUSE PRICES, AND GDP

45361

In this study examines evidence of the dynamic relationships between money supply, credits, house prices, monetary policy, and GDP in Turkey over the period of 2005 Q4 – 2019 Q3. The paper uses Granger Causality Test. Unlike the literature, credits are disaggregated into productive credits which are affecting GDP and asset credits which are not affecting GDP. The results of the analysis show that asset credits Granger causes productivite credits. Furthermore, it is concluded that the collateral effect regarding housing prices are also emerged.

469

Money Supply , Disaggregated Credits , Housing Prices , Granger Causality

Abant Sosyal Bilimler Dergisi

488

Abant Sosyal Bilimler Dergisi