This page has only limited features, please log in for full access.
The spread of COVID-19 worldwide has shown how quick global economy can become affected when ones’ health and future are at risk. This paper examines the evidence of Granger causality among the housing price, the unemployment rate, crude oil price, and world pandemic uncertainty in France, Germany, the UK, and the USA over the period 1996Q1–2019Q2. In this case, the linear and asymmetric Granger causality approaches of Toda-Yamamoto and Hatemi-J are respectively applied to provide useful insight. Although only significant evidence of linear Granger causality is found among the unemployment rate and the house prices in all the four economies, the investigations revealed asymmetric evidence involving the world pandemic uncertainty. Specifically, there is a significant uni-directional asymmetric Granger causality from the world pandemic uncertainty to the house price in France, Germany, and the USA but not in the UK. The variation in the results among the examined countries is explained by potential differences in economic structures or business cycle and other social and economic factors. Thus, relevant policy guidance is implied from the results especially for the policymakers in the examined countries.
Andrew Adewale Alola; Gizem Uzuner. Testing the asymmetric causal nexus of housing-oil prices and pandemic uncertainty in four major economies. Environmental Science and Pollution Research 2021, 1 -7.
AMA StyleAndrew Adewale Alola, Gizem Uzuner. Testing the asymmetric causal nexus of housing-oil prices and pandemic uncertainty in four major economies. Environmental Science and Pollution Research. 2021; ():1-7.
Chicago/Turabian StyleAndrew Adewale Alola; Gizem Uzuner. 2021. "Testing the asymmetric causal nexus of housing-oil prices and pandemic uncertainty in four major economies." Environmental Science and Pollution Research , no. : 1-7.
This study is aimed at examining the dynamic relationship between real housing prices (RHP) return and economic policy uncertainty (EPU) using a panel vector autoregressive (PVAR) approach and annual data for a panel of panel of 16 countries over the period 2004–2018. The study includes economic growth, short-term interest rate, and population as additional covariates. Empirical results show that a positive shock to EPU leads to a decrease in housing prices with EPU showing only a weak response to housing price shocks. This implies that EPU has a robust predictive power for the housing market, implying the need for evaluating the associated risks. The panel Granger causality tests indicate strong and robust Granger causality from the EPU to housing prices, but not vice versa. The causal links also indicate that the effect of the EPU on RHP is direct rather than indirect through other variables. Based on these outcomes, policy recommendations are made for real estate agents, portfolio managers, and policy makers.
Mehmet Balcilar; David Roubaud; Gizem Uzuner; Mark E. Wohar. Housing sector and economic policy uncertainty: A GMM panel VAR approach. International Review of Economics & Finance 2021, 76, 114 -126.
AMA StyleMehmet Balcilar, David Roubaud, Gizem Uzuner, Mark E. Wohar. Housing sector and economic policy uncertainty: A GMM panel VAR approach. International Review of Economics & Finance. 2021; 76 ():114-126.
Chicago/Turabian StyleMehmet Balcilar; David Roubaud; Gizem Uzuner; Mark E. Wohar. 2021. "Housing sector and economic policy uncertainty: A GMM panel VAR approach." International Review of Economics & Finance 76, no. : 114-126.
Our study investigates the dynamic pass‐through of energy prices (crude oil price, electricity price, natural gas price, and coal price) to real house price in the United States using the data from 1970 to 2017. Based on the autoregressive distributed lag (ARDL) model, the empirical results suggest an incomplete pass‐through for all the energy prices to real house price both in the long run and short run except for long‐run pass‐through of crude oil price which is complete with statistically insignificant parameter. The Granger causality results reveal a feedback effect between natural gas price and real house price, output growth and real house price, natural gas price and crude oil price, coal price and electricity price, and output growth and coal price. In addition, a unidirectional causal relationship is found running from crude oil price, natural gas price, real house price, and coal price to electricity price. Again, we find that crude oil price is the cause of coal price in Granger sense. Therefore, our findings provide insights into proper design of energy policy that reduces the transmission of energy price shocks to house price in the United States.
Gizem Uzuner; Ojonugwa Usman; Andrew Adewale Alola. An examination of the pass‐through of disaggregated energy prices to real house price: Evidence from the United States. Journal of Public Affairs 2021, e2638 .
AMA StyleGizem Uzuner, Ojonugwa Usman, Andrew Adewale Alola. An examination of the pass‐through of disaggregated energy prices to real house price: Evidence from the United States. Journal of Public Affairs. 2021; ():e2638.
Chicago/Turabian StyleGizem Uzuner; Ojonugwa Usman; Andrew Adewale Alola. 2021. "An examination of the pass‐through of disaggregated energy prices to real house price: Evidence from the United States." Journal of Public Affairs , no. : e2638.
In this study, the asymmetric Granger causality relationship between tourist arrivals and world pandemic uncertainty index is examined by controlling inflation, consumer confidence index, and industrial production for the period 2000M1 and 2020M1 in Italy. To the best of our knowledge, the current study is one of the few studies to investigate the relationship between tourist arrivals and world pandemic uncertainty in an asymmetric framework. The empirical results show that using the Granger causality test in a linear framework causes bias results due to misspecification. Therefore, the study relies on asymmetric Granger causality test results which reveal that the positive shock of world pandemic uncertainty Granger causes a negative shock of tourist arrivals. It is suggested that international tourist arrivals are sensitive to external shocks such as pandemics and in such instances the government of the concerned country can insulate the tourism-service and hospitality industry against the shocks by developing strategies to promote full information between all stakeholders.
Gizem Uzuner; Sudeshna Ghosh. Do pandemics have an asymmetric effect on tourism in Italy? Quality & Quantity 2020, 1 -19.
AMA StyleGizem Uzuner, Sudeshna Ghosh. Do pandemics have an asymmetric effect on tourism in Italy? Quality & Quantity. 2020; ():1-19.
Chicago/Turabian StyleGizem Uzuner; Sudeshna Ghosh. 2020. "Do pandemics have an asymmetric effect on tourism in Italy?" Quality & Quantity , no. : 1-19.
This article examines the relationship between carbon emissions and international tourism growth through the channels of globalization and real income via testing the Environmental Kuznets curve (EKC) over the periods of 1995 to 2016 for 16 selected tourism island states (TIS) that prioritized tourism as a means of maximizing economic growth. Using the dynamic panel‐based pooled mean group method of autoregressive distributed lag, results confirm globalization‐tourism‐induced EKC hypothesis for TIS. This implies international tourism growth and carbon emissions, through the channels of globalization and real income are in a long‐term equilibrium relationship. International tourism and squared term of real income have an inverse significant effect on carbon emission level, while globalization and real income without squared term exert positive and significant effects on carbon emissions level in the long run. Results of the direction of causality tests show that there is a two‐way causality between globalization and carbon emissions, while result also shows one‐way causality running from international tourism to carbon emissions level in the long‐run in the case of the TIS. Thus, globalization‐tourism‐induced EKC hypothesis is suggested in the case of TIS.
Seyi Saint Akadiri; Gizem Uzuner; Ada Chigozie Akadiri; Taiwo Temitope Lasisi. Environmental Kuznets curve hypothesis in the case of tourism island states: The moderating role of globalization. International Journal of Finance & Economics 2020, 26, 2846 -2858.
AMA StyleSeyi Saint Akadiri, Gizem Uzuner, Ada Chigozie Akadiri, Taiwo Temitope Lasisi. Environmental Kuznets curve hypothesis in the case of tourism island states: The moderating role of globalization. International Journal of Finance & Economics. 2020; 26 (2):2846-2858.
Chicago/Turabian StyleSeyi Saint Akadiri; Gizem Uzuner; Ada Chigozie Akadiri; Taiwo Temitope Lasisi. 2020. "Environmental Kuznets curve hypothesis in the case of tourism island states: The moderating role of globalization." International Journal of Finance & Economics 26, no. 2: 2846-2858.
The current study examines the importance of asymmetric modelling of tourism-CO2 emissions relationship by incorporating real income per capita and the newly developed globalization index in a multivariate time series model between 1970 and 2014 for Turkey. We used a non-linear autoregressive distributed lag model in analyzing the asymmetric cointegration association between the selected variables. Using Hatemi-J (2012) asymmetric causality testing method, we examined the asymmetric causal relationship among the variables. The empirical outcomes provide evidence for the existence of asymmetric long-run cointegration nexus among the variables. Asymmetric causality results show that both the positive and negative shock of tourism influence the CO2 emissions in the long-term, while in the short-term, only the negative shock of tourism contributes to CO2 emissions. Also discussed are the policy implications with regard to Turkey’s environmental and economic policies.
Gizem Uzuner; Seyi Saint Akadiri; Taiwo Temitope Lasisi. The asymmetric relationship between globalization, tourism, CO2 emissions, and economic growth in Turkey: implications for environmental policy making. Environmental Science and Pollution Research 2020, 27, 32742 -32753.
AMA StyleGizem Uzuner, Seyi Saint Akadiri, Taiwo Temitope Lasisi. The asymmetric relationship between globalization, tourism, CO2 emissions, and economic growth in Turkey: implications for environmental policy making. Environmental Science and Pollution Research. 2020; 27 (26):32742-32753.
Chicago/Turabian StyleGizem Uzuner; Seyi Saint Akadiri; Taiwo Temitope Lasisi. 2020. "The asymmetric relationship between globalization, tourism, CO2 emissions, and economic growth in Turkey: implications for environmental policy making." Environmental Science and Pollution Research 27, no. 26: 32742-32753.
In this paper, we examine the direction of causal relationships among migration-related fear, economic policy uncertainty, tourism, and economic growth in the panel economies of France, Germany, the UK, and the USA. To the best of our knowledge, this study is the first to examine the interaction and interrelationship between these variables in a multivariate causality study, using a quarterly data over the period 1985Q1–2017Q4 via time-series causality approach as advanced by Emirmahmutoglu and Kose (Econ Model 28:870–876, 2011) that produces country-specific causality statistic and also captures slope heterogeneity in panel data. Empirical results show that migration-related fear is linked with EPU, tourism arrivals, and real income. Thus, we suggest fear-induced economic policy uncertainty, fear-induced tourism, and economic policy uncertainty–induced growth hypotheses with credible policy suggestions for tourist destinations.
Gizem Uzuner; Seyi Saint Akadiri; Andrew Adewale Alola. Tourist arrivals in four major economies: another side of economic policy uncertainty and fear. Environmental Science and Pollution Research 2020, 27, 29659 -29665.
AMA StyleGizem Uzuner, Seyi Saint Akadiri, Andrew Adewale Alola. Tourist arrivals in four major economies: another side of economic policy uncertainty and fear. Environmental Science and Pollution Research. 2020; 27 (23):29659-29665.
Chicago/Turabian StyleGizem Uzuner; Seyi Saint Akadiri; Andrew Adewale Alola. 2020. "Tourist arrivals in four major economies: another side of economic policy uncertainty and fear." Environmental Science and Pollution Research 27, no. 23: 29659-29665.
Anthropogenic activities in search of livelihood come with its environmental implications. This is in line with the current crusade of the United Nations sustainable development goals (SDGs) target 7 and 13 for effective clean energy access and mitigating the adverse effect of climate change issues. Since the seminal study of Kraft and Kraft (1978) on the nexus between energy and gross national product, there has been no consensus in the extant literature in the last four decades. To this end, the current study applies recent data for the case of Nigeria from 1970 to 2017 on an annual frequency. Modified Wald causality test of Toda-Yamamoto is in conjunction with the recent gradual shift causality test with Fourier approximation for robustness and precision of analysis. Empirical results show the pollutant driven economy as one-way causality is seen running from pollutant emission to economic growth. This suggests that economic growth is driven by dirty energy sources that are from non-renewable energy sources. This is further validated in the pollution haven hypothesis (PHH) confirmed in the study by the causality seen running from foreign direct investment and carbon dioxide emissions. Additionally, the exploration of natural resources also engenders economic expansion in Nigeria. Based on the current study findings, a couple of submissions are made such as the need for a paradigm shift to cleaner energy sources. More so, the need for the adoption of cleaner, eco-system friendlier innovations, and technologies will aid in the attainment of the SDGs of mitigating climate and pollution issues.
Udi Joshua; Gizem Uzuner; Festus Victor Bekun. Revisiting the causal nexus between coal energy consumption, economic growth, and pollutant emission: sorting out the causality. Environmental Science and Pollution Research 2020, 27, 30265 -30274.
AMA StyleUdi Joshua, Gizem Uzuner, Festus Victor Bekun. Revisiting the causal nexus between coal energy consumption, economic growth, and pollutant emission: sorting out the causality. Environmental Science and Pollution Research. 2020; 27 (24):30265-30274.
Chicago/Turabian StyleUdi Joshua; Gizem Uzuner; Festus Victor Bekun. 2020. "Revisiting the causal nexus between coal energy consumption, economic growth, and pollutant emission: sorting out the causality." Environmental Science and Pollution Research 27, no. 24: 30265-30274.
In this paper, we examine whether there is a causal relationship between migration-related fear and tourism. To achieve the objective, a lag-augmented vector autoregressive (LA-VAR) model that generates country-specific causality test results is employed. The period covered extends from 1995Q1 to 2016Q4. To control for omitted variable bias, we include real gross domestic product per capita as an additional variable. Empirical results provide evidence of one-way causality running from migration-related fear to tourism, and neutrality hypothesis is confirmed in the relationship between migration-related fear and economic growth, and between tourism and economic growth. Although the study confirms the fear-induced tourism hypothesis, it however further submits that other determinants such as exchange rates and real gross domestic product are much more important than fear in determining the number of arrivals at a destination.
Andrew Alola; Gizem Uzuner; Seyi Saint Akadiri. Modeling tourism and fear nexus in G4 countries. Current Issues in Tourism 2020, 24, 1333 -1339.
AMA StyleAndrew Alola, Gizem Uzuner, Seyi Saint Akadiri. Modeling tourism and fear nexus in G4 countries. Current Issues in Tourism. 2020; 24 (10):1333-1339.
Chicago/Turabian StyleAndrew Alola; Gizem Uzuner; Seyi Saint Akadiri. 2020. "Modeling tourism and fear nexus in G4 countries." Current Issues in Tourism 24, no. 10: 1333-1339.
The current study re-investigates the impact of renewable and non-renewable energy consumption on Turkey’s ecological footprint. This study applies Quantile Autoregressive Lagged (QARDL) approach for the period of 1965Q1-2017Q4. We further apply Granger-causality in Quantiles to check the causal relationship among the variables. The results of QARDL show that error correction parameter is statistically significant with the expected negative sign for all quantiles which confirm an existence of significant reversion to the long-term equilibrium connection between the related variables and ecological footprint in Turkey. In particular, the outcomes suggested that renewable energy decrease ecological footprint in long-run on each quantile. However, the results of economic growth and non-renewable energy impact positively to ecological footprint in long-short run period at all quantiles. Finally, we tested the Environmental Kuznets Curve (EKC) hypothesis and the results of QARDL confirmed the EKC in Turkey. Furthermore, the findings of causal investigation from Granger-causality in quantiles evident the presence of a bi-directional causal relationship between renewable energy consumption, energy consumption and economic growth with ecological footprint in the Turkish economy.
Arshian Sharif; Ozge Baris-Tuzemen; Gizem Uzuner; Ilhan Ozturk; Avik Sinha. Revisiting the role of renewable and non-renewable energy consumption on Turkey’s ecological footprint: Evidence from Quantile ARDL approach. Sustainable Cities and Society 2020, 57, 102138 .
AMA StyleArshian Sharif, Ozge Baris-Tuzemen, Gizem Uzuner, Ilhan Ozturk, Avik Sinha. Revisiting the role of renewable and non-renewable energy consumption on Turkey’s ecological footprint: Evidence from Quantile ARDL approach. Sustainable Cities and Society. 2020; 57 ():102138.
Chicago/Turabian StyleArshian Sharif; Ozge Baris-Tuzemen; Gizem Uzuner; Ilhan Ozturk; Avik Sinha. 2020. "Revisiting the role of renewable and non-renewable energy consumption on Turkey’s ecological footprint: Evidence from Quantile ARDL approach." Sustainable Cities and Society 57, no. : 102138.
In this era of intensive electricity utilization for economic development, the role of urbanization remains inconclusive, especially in developing economies. Here, this study examined the electricity consumption and economic growth nexus in a trivariate framework by incorporating urbanization as an additional variable. Using the recent novel Maki cointegration test, Ng-Perron, Zivot-Andrews, and Kwiatkowski unit root tests along with FMOLS, DOLS and the CCR estimation methods, we relied on an annual frequency data from 1971-2014. Results from FMOLS, DOLS and the CCR regression confirms the electricity consumption-driven economic growth. This is desirable as Nigeria is heavily dependent on energy (electricity) consumption. A unidirectional causality from urbanization to electricity consumption and economic growth was found but the long-run empirical findings revealed urbanization impedes growth — a situation that has policy implications. The study highlights that though urbanization is a good predictor of Nigeria's economic growth, however, the adjustment of the energy portfolio to meet the growing urban demand will curtail the adverse and far-reaching impact of urbanization on the economy.
Hamisu Sadi Ali; Solomon Prince Nathaniel; Gizem Uzuner; Festus Victor Bekun; Samuel Asumadu Sarkodie. Trivariate modelling of the nexus between electricity consumption, urbanization and economic growth in Nigeria: fresh insights from Maki Cointegration and causality tests. Heliyon 2020, 6, e03400 .
AMA StyleHamisu Sadi Ali, Solomon Prince Nathaniel, Gizem Uzuner, Festus Victor Bekun, Samuel Asumadu Sarkodie. Trivariate modelling of the nexus between electricity consumption, urbanization and economic growth in Nigeria: fresh insights from Maki Cointegration and causality tests. Heliyon. 2020; 6 (2):e03400.
Chicago/Turabian StyleHamisu Sadi Ali; Solomon Prince Nathaniel; Gizem Uzuner; Festus Victor Bekun; Samuel Asumadu Sarkodie. 2020. "Trivariate modelling of the nexus between electricity consumption, urbanization and economic growth in Nigeria: fresh insights from Maki Cointegration and causality tests." Heliyon 6, no. 2: e03400.
This study explores the interaction among coal consumption, pollutant emissions, and real income for South Africa in a multivariate setting. To achieve this objective, annual frequency data spanning from 1965 to 2017 is used for analysis. A series of econometrics tests were conducted ranging from stationarity and non-stationarity tests for unit root properties of the variables under consideration. Empirical evidence finds support for the inverted U-shaped pattern between energy consumption and environmental degradation in South Africa. The Toda-Yamamoto Granger causality test shows a feedback causality between economic growth and carbon dioxide emissions, as well as between GDP and coal consumption. All these highlighted findings have inherent environmental implications. Based on these outcomes, policy directions such as diversification of the South Africa energy mix to renewables and cleaner energy sources and also the adoption of carbon capturing and storage techniques were suggested to engender a cleaner and friendlier environment.
Cosimo Magazzino; Festus Victor Bekun; Mfonobong Udom Etokakpan; Gizem Uzuner. Modeling the dynamic Nexus among coal consumption, pollutant emissions and real income: empirical evidence from South Africa. Environmental Science and Pollution Research 2020, 27, 8772 -8782.
AMA StyleCosimo Magazzino, Festus Victor Bekun, Mfonobong Udom Etokakpan, Gizem Uzuner. Modeling the dynamic Nexus among coal consumption, pollutant emissions and real income: empirical evidence from South Africa. Environmental Science and Pollution Research. 2020; 27 (8):8772-8782.
Chicago/Turabian StyleCosimo Magazzino; Festus Victor Bekun; Mfonobong Udom Etokakpan; Gizem Uzuner. 2020. "Modeling the dynamic Nexus among coal consumption, pollutant emissions and real income: empirical evidence from South Africa." Environmental Science and Pollution Research 27, no. 8: 8772-8782.
In this paper, we examine whether tourism predicts economic policy uncertainty or not in three regions of America, Europe, and Asia-pacific, using annual frequency panel data that consist of 12 countries in a multivariate Granger causality model that incorporates economic growth as an additional variable over the periods 1995–2016. Using the panel Granger causality method as advanced by Emirmahmutoglu and Kose [(2011). Testing for Granger causality in heterogeneous mixed panels. Economic Modelling, 28(3), 870–876.] that produces country-specific Granger causality test statistic and also controlled for heterogeneity in panel data, we found two-way causality relationship between ITAs and EPU in France, Ireland and United State, and one-way causality relationship from ITAs to EPU in Brazil, Canada, China and Germany and neutrality hypothesis in Chile, Japan, South Korea, Russia and Sweden, respectively. These results suggest tourism-economic policy uncertainty led-hypothesis and economic policy uncertainty-tourism led hypothesis with worthy policy implications for tourism destinations across the world.
Seyi Saint Akadiri; Andrew Alola; Gizem Uzuner. Economic policy uncertainty and tourism: evidence from the heterogeneous panel. Current Issues in Tourism 2019, 23, 2507 -2514.
AMA StyleSeyi Saint Akadiri, Andrew Alola, Gizem Uzuner. Economic policy uncertainty and tourism: evidence from the heterogeneous panel. Current Issues in Tourism. 2019; 23 (20):2507-2514.
Chicago/Turabian StyleSeyi Saint Akadiri; Andrew Alola; Gizem Uzuner. 2019. "Economic policy uncertainty and tourism: evidence from the heterogeneous panel." Current Issues in Tourism 23, no. 20: 2507-2514.
Agricultural land is a main component of the environment and ecological system. Therefore, this study employs the panel cointegration approach to investigate the dynamic relationship between the housing market vis‐à‐vis housing price (hp) and agricultural land (land) of a panel of 15 countries (countries with the gross domestic product–weighted average of the national Economic Policy Uncertainty index) over the period 1997–2015. Additionally, Granger causality approach of Dumitrescu–Hurlin is employed for the investigation. The model adjusts to the long‐run equilibrium with an annual speed of 11% from any situation of disequilibrium and with elasticities of −3.97 and −0.67, respectively, for a land and Global Economic Policy Uncertainty (gepu). Meanwhile, the impact during a short run of gepu is statistically significant and positive on hp, whereas it is not significant for land. Interestingly, the investigation reveals Granger causality from agricultural land to the housing price with feedback. The research presents an indication that policymaker(s) and urbanization stakeholders should be more concern about effective and sustainable long‐term policies. Future anomalies of food scarcity and skyrocketing house prices associated with agricultural land–house price trade‐off challenges could potentially be mitigated by such effective policy frameworks.
Andrew Adewale Alola; Gizem Uzuner. The housing market and agricultural land dynamics: Appraising with Economic Policy Uncertainty Index. International Journal of Finance & Economics 2019, 25, 274 -285.
AMA StyleAndrew Adewale Alola, Gizem Uzuner. The housing market and agricultural land dynamics: Appraising with Economic Policy Uncertainty Index. International Journal of Finance & Economics. 2019; 25 (2):274-285.
Chicago/Turabian StyleAndrew Adewale Alola; Gizem Uzuner. 2019. "The housing market and agricultural land dynamics: Appraising with Economic Policy Uncertainty Index." International Journal of Finance & Economics 25, no. 2: 274-285.
This paper revisits the interaction between electricity consumption, real gross domestic product, and carbon dioxide emissions in Pakistan. To this end, our study relies on annual data from 1971 to 2014 for the econometric analysis while accounting for structural break(s). According to the Maki cointegration test, a cointegration equilibrium relationship exists among electricity consumption, economic growth, and carbon dioxide emissions. The empirical findings from Toda-Yamamoto causality test provided the following insights: (i) unidirectional causality was found running from economic growth to electricity consumption. Thus, this study validates the conservative hypothesis, meaning that in Pakistan, conservative energy strategies cannot harm economic progress. (ii) Causality was also found running from electricity consumption to carbon dioxide emissions. This implies that industrial activities trigger an increase in carbon emissions flaring which in return translates into environmental degradation. This outcome has inherent policy implications which are further discussed in the conclusion section.
Mehmet Balcilar; Festus Victor Bekun; Gizem Uzuner. Revisiting the economic growth and electricity consumption nexus in Pakistan. Environmental Science and Pollution Research 2019, 26, 12158 -12170.
AMA StyleMehmet Balcilar, Festus Victor Bekun, Gizem Uzuner. Revisiting the economic growth and electricity consumption nexus in Pakistan. Environmental Science and Pollution Research. 2019; 26 (12):12158-12170.
Chicago/Turabian StyleMehmet Balcilar; Festus Victor Bekun; Gizem Uzuner. 2019. "Revisiting the economic growth and electricity consumption nexus in Pakistan." Environmental Science and Pollution Research 26, no. 12: 12158-12170.
Expectedly, urbanization is often associated with constant degradation of natural habitat. In most cases, as demand for housing increases, natural habitat like agricultural land, forestry, and water bodies gradually gives way to building structures. Against this backdrop, the current study investigates the asymmetric nexus of agricultural land and housing market vis-à-vis house prices. The study employed the yearly data from 1976 to 2015 for the case of Sweden and used economic policy uncertainty (EPU) as a control variable in non-linear autoregressive distributed lag (NARDL) approach. The finding notes a significant and positive short- and long-run relationship between housing price and agricultural land especially when there is a negative shock on agricultural land. But when there is a negative shock on EPU, the impact on housing price is significant and negative for both short run and long run. While an asymmetric long-run relationship is significant and positive between EPU and housing price, such significant occurrence do not exist for agricultural land. Hence, in meeting housing demand and mitigating an escalated growth in house prices, implementation of effective land use policy is encouraged.
Gizem Uzuner; Andrew Alola Adewale. Does asymmetric nexus exist between agricultural land and the housing market? Evidence from non-linear ARDL approach. Environmental Science and Pollution Research 2019, 26, 7677 -7687.
AMA StyleGizem Uzuner, Andrew Alola Adewale. Does asymmetric nexus exist between agricultural land and the housing market? Evidence from non-linear ARDL approach. Environmental Science and Pollution Research. 2019; 26 (8):7677-7687.
Chicago/Turabian StyleGizem Uzuner; Andrew Alola Adewale. 2019. "Does asymmetric nexus exist between agricultural land and the housing market? Evidence from non-linear ARDL approach." Environmental Science and Pollution Research 26, no. 8: 7677-7687.