During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental...

Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Table of Contents -- Preface -- Introduction -- 1 Notions -- 1.1 Financial Stability -- 1.2 Financial Fragility, Liquidity, and Leverage -- 1.2.1 Definitions -- 1.2.2 Theoretical Underpinnings -- 1.2.1.1 The Diamond and Dybvig...