![]() Therefore, the results show that SIBOR is an effective monetary policy instrument for the central bank in Saudi Arabia to use to affect housing prices. Specifically, the results show that SIBOR does Granger cause the housing price whereas, M2 does not Granger cause the housing price. The results show that SIBOR has a stronger impact than M2 on housing prices in Saudi Arabia. The paper examines the impact of monetary policy on the house price index in Saudi Arabia with a VAR model and investigates the Granger causality, impulse response functions, and variance decompositions. The primary purpose of this paper is to determine how the house price index (HPI) in Saudi Arabia is changing under the influence of monetary policy instruments such as money supply (M2) and Saudi Arabia's Short-Term Interest Rate (SIBOR). Meanwhile from the Forecast Error Variance Decomposition shows that the Money Supply, Exchange Rate, and Inflation has a big contribution on the shocks that occur in residential property price index in Jabodebek-Banten in various categories. The responses generated from the Impulse Response Function is different in each category. The results of this study show interest rates and economic growth does not significantly affect residential property price index on Jabodebek-Banten. Macroeconomic variables used in this study such as economic growth, inflation, interest rates, money supply, and exchange rates. With Vector Error Corection Model (VECM) method, this study aims to see what macroeconomic variables influence the Residential property prices index as well as the magnitude of their contribution and how residential property price index respond to macroeconomic shocks. Behind its rapid development, the property business is extremely vulnerable to economic shock. This has a positive impact on the national economy because it can increase the rate of economic growth through the level of investment. Still, your skills and level of thrill-seeking should be taken into consideration when you start planning your canoe or kayaking adventure.īelow the slideshow, you can read about some of the places that are worth checking out.Increased demand has driven the property business to grow and expand more rapidly. So, where should you go? You can be sure that you are never far away from a paddling point in Norway. If you don't have one, why not set aside some time on your holiday to attend a course? It's both a fun and social experience! #Ramme mieten how to#Whether you are an experienced paddler or want to learn how to manoeuvre the kayak for the first time, there are numerous courses and guided tours available.įor safety reasons, most Norwegian kayak rental operators require that you have a "wet card" certification (våttkort) to hire a kayak. Over the last few years, paddling has become a popular outdoor activity in Norway, and you can rent canoes and kayaks all over the country. Or how about paddling under the midnight sun in summer or under the northern lights in winter? You can paddle on a forest lake, glacial lake, or in one of the main cities. Norway is a true haven for canoeing and kayaking. Listen to the smooth trickling of water and take in the feeling of being at one with nature. See the majestic landscape slide by in slow motion. ![]()
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