Stepanyan, Vahram; Poghosyan, Tigran; Bibolov, Aidyn - International Monetary Fund (IMF) - 2010
This paper analyses the recent boom-bust cycle in the housing markets of selected Former Soviet Union (FSU) countries. The analysis is based on a newly constructed database on house prices in the FSU countries. Our estimations suggest that house price developments can largely be explained by the...