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Booms and Busts in Housing Markets : Determinants and Implications
Agnello, Luca - 2009
This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It...
Persistent link: https://www.econbiz.de/10013158164
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Macroprudential Policy and the Role of Institutional Investors in Housing Markets
Muñoz, Manuel - 2020
Since the onset of the Global Financial Crisis, the presence of institutional investors in housing markets has steadily increased over time. Real estate funds (REIFs) and other housing investment firms leverage large-scale buy-to-rent investments in real estate assets that enable them to set...
Persistent link: https://www.econbiz.de/10012825848
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Booms and busts in housing markets: determinants and implications
Agnello, Luca; Schuknecht, Ludger - 2009
This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It...
Persistent link: https://www.econbiz.de/10011605117
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Forecasting and Assessing Euro Area House Prices through the Lens of Key Fundamentals
Gattini, Luca - 2010
income per capita and a mixed maturity measure of the real interest rate. In addition to house price forecasts using the …
Persistent link: https://www.econbiz.de/10013138013
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Relative House Price Dynamics Across Euro Area and US Cities : Convergence or Divergence?
Hiebert, Paul - 2010
convergence and analyses key factors explaining price differentials in a panel regression framework including per capita income … synchronised cycles in the national aggregates for most countries since the 1990s. There is an important role for income … income elasticity for house price differentials. The results, particularly for income, appear to be robust to restricting the …
Persistent link: https://www.econbiz.de/10013142991
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Do House Price Developments Spill Over Across Euro Area Countries? Evidence from a Global VAR
Vansteenkiste, Isabel; Hiebert, Paul - 2021
variables (real house prices, real per capita disposable income, and the real interest rate) on the basis of quarterly data for …
Persistent link: https://www.econbiz.de/10013316405
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House Prices, Money, Credit and the Macroeconomy
Goodhart, Charles A. E.; Hofmann, Boris - 2021
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10013316547
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House Prices and Ultra-Low Interest Rates : Exploring the Non-Linear Nexus
Dieckelmann, Daniel; Hempell, Hannah Sabine; Jarmulska, … - 2023
The acceleration of house price growth amidst falling interest rates to record-low levels across euro area countries between 2015 and 2021 has sparked renewed interest in the link between the two variables. Asset-pricing theory suggests that real house prices respond to changes in real interest...
Persistent link: https://www.econbiz.de/10014257208
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Navigating the Housing Channel of Monetary Policy Across Euro Area Regions
Battistini, Niccolò; Falagiarda, Matteo; Hackmann, Angelina - 2022
lower labour income and more widespread homeownership. An expansionary monetary policy can thus be effective in mitigating …
Persistent link: https://www.econbiz.de/10014238369
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House Prices, Money, Credit and the Macroeconomy.
Goodhart, Charles; Hofmann, Boris - 2008
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10011604934