“The Most Successful Academician Award Under the age of 40” goes to Kırıkkaleli

Academician of European University of Lefke (EUL) Faculty of Economic and Administrative Sciences Department of Banking and Finance Assoc. Prof. Dr. Derviş Kırıkkaleli deemed worthy of “The Most Successful Academician Award Under the age of 40” in the 5th International Congress of Social Sciences organized by the International Balkan University in Skopje-Macedonia, among hundreds of academicians from different countries and universities.

Kırıkkaleli prepared a study in an area that gained importance with the change in house prices

Assoc. Prof. Dr. Derviş Kırıkkaleli who received his award from the Rector of International Balkan University Prof. Dr. Mehmet Dursun Erdem, presented his study titled ““Housing Sector Bubble and Economic Uncertainty in the UK” which gained importance with the change in house prices succesfully.

Giving information about the main theme of the study, Kırıkkaleli said that “The main subject of the study is whether there was a  sector buble in the UK between 1998 and 2017. The causality relationship between the home price index and the uncertainty in economic policies in the UK has been examined by considering sub-periods”. Pointing out that in the study, the oldest and the latest causality tests were used as the analysis methods, Kırıkkaleli said that the results obtained from each test overlap with all test results, revealing a significant difference in the study.

House prices in the UK cause uncertainty in economic policies

Kırıkkaleli said that “As a result of the study seeking for answers to some unanswered questions in the literature studies it is observed that ; there was a significant bubble in the real estate sector in the UK between May 2001 and March 2005, between July 2006 and January 2008, and between July 2013 and June 2017” and added that also house prices in the UK from the end of 2006 to the beginning of 2010 and from the beginning of 2012 to the end of 2014 are caused uncertainty in economic policies. He further added that, unexpectedly, there was a high correlation between uncertainty in economic policies and the real estate sector price index at a high frequency from the beginning of 2007 to the end of 2008.