Impacts of monetary policies on the real estate bubble in Hanoi, Vietnam

• DOI: 10.21511/imfi.20(1).2023.20
• Publication Date: 2023-03-20T06:15:56Z
• Authors: Phuong Lan Le; Thu Uyen Nguyen; Thi Thanh Van Pham; Thi Huong Pham; Sy Bin Nguyen
• Keywords: Akaike information criterion; Money supply; Vector autoregression; Economic bubble

The development of the real estate market always goes hand in with fluctuation economy. In recent years, this has experienced many recessions and «freezes» associated appearance a bubble. To approach issue, paper studies gives an overview bubble impact monetary policies on Vietnam. This paper’s purpose is to identify measure influence policies, including interest rates, credit money supply, Ha Noi. vector autoregression model (VAR) used test interaction variables model. Dickey-Fuller (DF) applied determine stationarity variables, while Akaike information criterion (AIC), Likelihood Ratio (LR), Final prediction error (FPE), Hannan-Quinn (HQ) Schwarz (SC) are find optimal lag model; then Granger causality utilized two-way correlation between variables. results showed that reacted quickly shocks from macroeconomic factors representing policy, consisting interbank growth, supply growth. Thus, it concluded policy not only cause formation, but also one effective solutions deflate AcknowledgmentThis research funded by Vietnam Ministry Education Training (MOET) under grant number [B2022-NTH-03].