IMPACT OF MACROECONOMIC INDICATORS ON MORTGAGE LOANS IN THE V4

• Authors: Krkošková Radmila , Szkorupová Zuzana
• Languages of publication: EN

Abstracts

EN

The aim of this article is to analyse the impact of selected macroeconomic indicators on mortgage loans in the V4. This group of countries was chosen because they are close, both geographically and economically. This paper tries to find reasons for possible differences or similarities between the Czech Republic, Slovakia, Poland and Hungary. The article analyses whose of the macroeconomic variables (GDP, inflation, the unemployment rate, and mortgage interest rate) affect the volume of mortgage loans. The article uses the tools of time series econometrics, especially the ADF test, Autoregressive Distributed Lag (ARDL) model, Error Correction Model (ECM), and the Granger causality test. It was found that there is a short-term relationship between the volume of mortgage loans and GDP for all countries, except Poland. Over a longer time series, however, a long-term relationship exists for all of countries between the volume of mortgage loans and GDP, the mortgage interest rate, and the unemployment rate. The used data is based on a quarterly time series running from 2005Q1 to 2019Q4.

Keywords

EN

ADF TEST; ARDL MODELS; ECM; GRANGER CAUSALITY TEST; MORTGAGE LOANS; V4; MACROECONOMIC INDICATORS

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2021
• Volume: 69
• Issue: 6
• Pages: 627 – 646

Contributors

author

Krkošková Radmila

• Silesian University in Opava, School of Business Administration in Karviná, Univerzitní náměstí 1934/3, 733 40 Karviná, Czech Republic

author

Szkorupová Zuzana

Identifiers

DOI

https://doi.org/10.31577/ekoncas.2021.06.04