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Inflation hedging property of housing market in Malaysia

This paper aims to examine the relationship between house prices and inflation to determine the inflation hedging ability of housing in Malaysian. We examine the long-run and short-run hedging ability of house prices against both consumer and energy inflation by using ARDL approach. Consumer infl...

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Main Authors: Geok, Peng Yeap, Hooi, Hooi Lean
Other Authors: Ee, Shiang Lim
Format: Book Section
Language:English
Published: Universiti Sains Malaysia 2016
Subjects:
HC79 Special topics-Including air pollution, automation,consumer demand, famines, flow of funds,etc.
Online Access:http://eprints.usm.my/52479/1/pages%20from%201-8%20iccei2016-proceedings.pdf
http://eprints.usm.my/52479/
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spelling my.usm.eprints.52479 http://eprints.usm.my/52479/ Inflation hedging property of housing market in Malaysia Geok, Peng Yeap Hooi, Hooi Lean HC79 Special topics-Including air pollution, automation,consumer demand, famines, flow of funds,etc. This paper aims to examine the relationship between house prices and inflation to determine the inflation hedging ability of housing in Malaysian. We examine the long-run and short-run hedging ability of house prices against both consumer and energy inflation by using ARDL approach. Consumer inflation will be calculated from consumer price index while energy inflation is calculated from crude oil price. We find that, in the long-run, housing is a good hedge against consumer inflation but a poor hedge against energy inflation. In the short-run, housing is only partially hedge against energy inflation but not able to hedge against consumer inflation. The results show that housing is not a good investment asset in Malaysia. Universiti Sains Malaysia Ee, Shiang Lim Chee, Hong Law Hooi, Hooi Lean 2016 Book Section PeerReviewed application/pdf en http://eprints.usm.my/52479/1/pages%20from%201-8%20iccei2016-proceedings.pdf Geok, Peng Yeap and Hooi, Hooi Lean (2016) Inflation hedging property of housing market in Malaysia. In: Proceedings of Second International Conference on Contemporary Economic Issues. Universiti Sains Malaysia, Pulau Pinang, Malaysia, pp. 1-8. ISBN 978-967-11473-6-8
institution Universiti Sains Malaysia
building Hamzah Sendut Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sains Malaysia
content_source USM Institutional Repository
url_provider http://eprints.usm.my/
language English
topic HC79 Special topics-Including air pollution, automation,consumer demand, famines, flow of funds,etc.
spellingShingle HC79 Special topics-Including air pollution, automation,consumer demand, famines, flow of funds,etc.
Geok, Peng Yeap
Hooi, Hooi Lean
Inflation hedging property of housing market in Malaysia
description This paper aims to examine the relationship between house prices and inflation to determine the inflation hedging ability of housing in Malaysian. We examine the long-run and short-run hedging ability of house prices against both consumer and energy inflation by using ARDL approach. Consumer inflation will be calculated from consumer price index while energy inflation is calculated from crude oil price. We find that, in the long-run, housing is a good hedge against consumer inflation but a poor hedge against energy inflation. In the short-run, housing is only partially hedge against energy inflation but not able to hedge against consumer inflation. The results show that housing is not a good investment asset in Malaysia.
author2 Ee, Shiang Lim
author_facet Ee, Shiang Lim
Geok, Peng Yeap
Hooi, Hooi Lean
format Book Section
author Geok, Peng Yeap
Hooi, Hooi Lean
author_sort Geok, Peng Yeap
title Inflation hedging property of housing market in Malaysia
title_short Inflation hedging property of housing market in Malaysia
title_full Inflation hedging property of housing market in Malaysia
title_fullStr Inflation hedging property of housing market in Malaysia
title_full_unstemmed Inflation hedging property of housing market in Malaysia
title_sort inflation hedging property of housing market in malaysia
publisher Universiti Sains Malaysia
publishDate 2016
url http://eprints.usm.my/52479/1/pages%20from%201-8%20iccei2016-proceedings.pdf
http://eprints.usm.my/52479/
_version_ 1739828967389528064
score 13.211869

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