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...

Introductory Lecture -- Housing in DSGE Models: Findings and New Directions -- Housing and the Business Cycles -- Housing and the Macroeconomy: The Italian Case -- Cyclical Relationships Between GDP and Housing Market in France: Facts and Factors at Play -- Does Housing Really Lead the Business...

NBER International Seminar on Macroeconomics 2009 Edited by Lucrezia Reichlin and Kenneth D. West The University of Chicago Press Chicago and London Contents Abstracts xi Introduction 1 Lucrezia Reichlin and Kenneth D. West Fart I: Financial Crisis 1 Free Flows, Limited...