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This report reviews the macroeconomic determinants of the rapid growth in the Spanish housing market, including various policy elements. It examines the vulnerabilities of households' finances as a result of the rapid growth of housing prices and mortgage debt. It also describes the Spanish...
Persistent link: https://www.econbiz.de/10014407049
written by leading academics in index number theory and by recognised experts in RPPIs compilation. Its development has been …
Persistent link: https://www.econbiz.de/10014394866
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...
Persistent link: https://www.econbiz.de/10014406218
This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …
Persistent link: https://www.econbiz.de/10014399797
This paper examines the impact of trade costs on real exchange rate volatility. The channel is examined by constructing … higher trade costs result in a larger nontradable sector. This, in turn, leads to higher real exchange rate volatility. We …
Persistent link: https://www.econbiz.de/10014404193
Persistent link: https://www.econbiz.de/10014409758
predictions of the theory …
Persistent link: https://www.econbiz.de/10014396348
This Selected Issues paper for Belgium evaluates whether price increases in Belgium are excessive. It assesses the household and bank balance sheets and their vulnerability to a slowdown in housing prices, and identifies differences in real estate markets between Belgium and other countries. The...
Persistent link: https://www.econbiz.de/10005825451
The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This...
Persistent link: https://www.econbiz.de/10005590915
Sharp increase in house prices in Hong Kong SAR in 2009-2010 has led to concerns of an emerging real estate bubble. According to our measure of price deviation from fundamentals, which should be taken as an early warning indicator of market exuberance, the current level of house prices in Hong...
Persistent link: https://www.econbiz.de/10014403229