Document Type : Original Article
Authors
1
PhD Student in Economics, Faculty of Humanities, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan, Iran.
2
Associate Professor, Department of Economics, Isfahan Branch (Khorasgan), Islamic Azad University, Isfahan, Iran.
3
Associate Professor, Department of Economics, Islamic Azad University, Isfahan Branch (Khorasgan), Isfahan, Iran.
Abstract
In the Iranian economy, factors such as government financial assets and housing prices each year are considered as tools of fiscal policy, which in turn will play an important role in the country's economy and the activities of banks. In this research, the financial-economic information of Iran Database from 1989 to 1397 has been used quarterly. In this study, an attempt has been made to investigate the role of financial policies on the number of building permits issued through bank credit channels and the exchange rate in two different models, using the VEC vector error correction model approach. The results of the Johansson test show that there are significant relationships between the variables of financial assets and deposit rates, bank facilities, building permits and exchange rates, as well as between the variables of housing price index and deposit rates, bank facilities, building permits and There is an exchange rate. The findings indicated that the second model is more superior than the first model. Also, the variables of policy tools have a positive and significant effect on the variables of the number of issued building permits and housing prices in the short, medium and long term according to the credit channel. The deposit rate variable, which has been used as a policy tool in the medium and long term, can increase the number of building permits issued depending on the amount of bank facilities.
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