Narrow search
Showing 1 - 10 of 14
Cover Image
Global Liquidity, World Savings Glut and Global Policy Coordination
Belke, Ansgar; Gros, Daniel - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10008636402
Cover Image
Re-examining the Decline in the US Saving Rate: The Impact of Mortgage Equity Withdrawal
Caporale, Guglielmo Maria; Costantini, Mauro; Paradiso, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may affect the saving rate. We estimate a Vector Error...
Persistent link: https://www.econbiz.de/10010896197
Cover Image
Liquidity and the Dynamic Pattern of Asset Price Adjustment: A Global View
Belke, Ansgar; Orth, Walter; Setzer, Ralph - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in...
Persistent link: https://www.econbiz.de/10008490051
Cover Image
Liquidity and Asset Prices: How Strong Are the Linkages?
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
bubbles in asset markets. If strong linkages exist, the inclusion of asset prices in the monetary policy rule can eventually …
Persistent link: https://www.econbiz.de/10005068753
Cover Image
Oil Prices, Exchange Rates and Asset Prices
Fratzscher, Marcel; Schneider, Daniel; Robays, Ine Van - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
This paper takes a financial market perspective in examining the relationship between oil prices, the US dollar and asset prices, and it exploits the heteroskedasticity for the identification of causality in a multifactor model. It finds a bidirectional causality between the US dollar and oil...
Persistent link: https://www.econbiz.de/10010659948
Cover Image
Liquidity and Asset Prices: How Strong Are the Linkages?
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
bubbles in asset markets. If strong linkages exist, the inclusion of asset prices in the monetary policy rule can eventually …
Persistent link: https://www.econbiz.de/10010660294
Cover Image
Liquidity and Asset Prices: How Strong Are the Linkages?
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
bubbles in asset markets. If strong linkages exist, the inclusion of asset prices in the monetary policy rule can eventually …
Persistent link: https://www.econbiz.de/10010661272
Cover Image
Liquidity and Asset Prices: How Strong Are the Linkages?
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
bubbles in asset markets. If strong linkages exist, the inclusion of asset prices in the monetary policy rule can eventually …
Persistent link: https://www.econbiz.de/10011128098
Cover Image
An Early Warning System to Predict the House Price Bubbles
Dreger, Christian; Kholodilin, Konstantin A. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
In this paper, we construct the country-specific chronologies of the house price bubbles for 12 OECD countries over the … models. It is shown that the latter two models allow much more accurate predictions of the house price bubbles than the … future speculative bubbles in housing market. Thus, our method can be used by the policymakers in their attempts to timely …
Persistent link: https://www.econbiz.de/10009216692
Cover Image
What Drives Housing Prices Down?: Evidence from an International Panel
Kholodilin, Konstantin A.; Menz, Jan-Oliver; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007
In this study, we suggest an explanation for the alarmingly low growth rates of real housing prices in Canada and Germany in comparison to other OECD countries over 1975-2005. We show that the long-run development of housing markets is determined by real disposable per capita income, real...
Persistent link: https://www.econbiz.de/10005068727