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Demographics and the Housing Market : Japan's Disappearing Cities

Hashimoto, Yūko; Hong, Gee Hee; Zhang, Xiaoxiao - 2021

How does a shrinking population affect the housing market? In this study, drawing on Japan's experience, we find that there exists an asymmetric relationship between housing prices and population change. Due to the durability of housing structures, the decline in housing prices associated with...

Persistent link: https://www.econbiz.de/10013315094

Non-Primary Home Buyers, Shadow Banking, and the US Housing Market

Alter, Adrian; Dernaoui, Zaki - 2021

This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998-2018. First, we document the evolution of different types of investment purchases such as those conducted by short-term buyers, out-of-state...

Persistent link: https://www.econbiz.de/10013315117

The Pricing-Out Phenomenon in the U.S. Housing Market

Beraldi, Francesco; Zhao, Yunhui - 2023

The COVID-19 pandemic further extended the multi-year housing boom in advanced economies and emerging markets alike against massive monetary easing during the pandemic. In this paper, we analyze the pricing-out phenomenon in the U.S. residential housing market due to higher house prices...

Persistent link: https://www.econbiz.de/10014258218

Incomplete Financial Markets and the Booming Housing Sector in China

Bayoumi, Tamim A.; Zhao, Yunhui - 2021

has not been reversed by the COVID-19 shock. In this paper, we first provide some stylized facts and then a DSGE model …

Persistent link: https://www.econbiz.de/10013250096

US Housing Market During COVID-19 : Aggregate and Distributional Evidence

Zhao, Yunhui - 2021

Using zip code-level data and nonparametric estimation, I present eight stylized facts on the US housing market in the COVID-19 era. Some aggregate results are: (1) growth rate of median housing price during the four months (April-August 2020) since the Federal Reserve's unprecedented monetary...

Persistent link: https://www.econbiz.de/10013314842

A Tale of Tier 3 Cities

Rogoff, Kenneth S.; Yang, Yuanchen - 2022

This paper provides new estimates of the housing stock, construction rates and price developments by city tier in China in order to understand where imbalances might be concentrated, and the implications of any significant contraction. We also update estimates of the size of China’s rapidly...

Persistent link: https://www.econbiz.de/10014238737

Spillovers from China's Growth Slowdown and Rebalancing to the ASEAN-5 Economies

Dizioli, Allan - 2016

financial markets. It finds that countries with closer trade linkages with China (Malaysia, Singapore, and Thailand) and net … commodity exporters (Indonesia and Malaysia) would suffer the largest impact, with growth falling between 0.2 and 0.5 percentage … shock. The impact could be larger if China's slowdown and rebalancing coincides with bouts of global financial volatility …

Persistent link: https://www.econbiz.de/10012977796

Exploring the Output Effect of Fiscal Policy Shocks in Low Income Countries

Honda, Jiro - 2020

What do we know about the output effects of fiscal policy in low income countries (LICs)? There are very few empirical studies on the subject. This paper fills this gap by estimating the output effects of government spending shocks in LICs. Our analysis-based on the local projection method-finds...

Persistent link: https://www.econbiz.de/10012831612

The U.S. Oil Supply Revolution and the Global Economy

Mohaddes, Kamiar - 2016

-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model …-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining …

Persistent link: https://www.econbiz.de/10012998782

Transitory and Permanent Shocks in the Global Market for Crude Oil

Rebei, Nooman - 2020

This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evidence of significant differences in the propagation mechanisms of transitory versus...

Persistent link: https://www.econbiz.de/10012836533