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The Macroprudential Framework; Policy Responsiveness and Institutional Arrangements
Lim, Cheng Hoon; Krznar, Ivo; Lipinsky, Fabian; Otani, Akira - International Monetary Fund (IMF) - 2013
This paper gauges if, and how, institutional arrangements are correlated with the use of macroprudential policy instruments. Using data from 39 countries, the paper evaluates policy response time in various types of institutional arrangements for macroprudential policy and finds that the...
Persistent link: https://www.econbiz.de/10011242316
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Australia; Selected Issues
International Monetary Fund (IMF); International … - 2003
Property price inflation has accelerated during the last few years, propelled by low mortgage rates, poor returns from …
Persistent link: https://www.econbiz.de/10005598837
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United Kingdom; Selected Issues
International Monetary Fund (IMF); International … - 2003
This Selected Issues paper examines the factors determining housing prices in the United Kingdom. Based on econometric evidence, the paper assesses whether recent housing price increases can be explained by fundamentals or whether they represent a temporary overshooting of housing prices,...
Persistent link: https://www.econbiz.de/10005252805
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Are House Prices Rising too Fast in Hong Kong SAR?
International Monetary Fund (IMF); International … - 2010
may be accumulating, and tight prudential standards and fiscal measures will be required to tame price inflation. …
Persistent link: https://www.econbiz.de/10008777036
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Turkey; Selected Issues
International Monetary Fund (IMF); International … - 2007
This Selected Issues paper on Turkey reviews a decline in private saving and adoption of a fiscal rule. As economic confidence has improved, capital inflows have surged while private saving has fallen. Together, these developments have produced current account deficits and a strong lira, raising...
Persistent link: https://www.econbiz.de/10011245633
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Putting the New Keynesian Model to a Test
Straub, Roland; Peersman, Gert - International Monetary Fund (IMF) - 2006
In recent years, New Keynesian dynamic stochastic general equilibrium (NK DSGE) models have become increasingly popular in the academic literature and in policy analysis. However, the success of these models in reproducing the dynamic behavior of an economy following structural shocks is still...
Persistent link: https://www.econbiz.de/10005264045
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Financial Stability In An Evolving Regulatory And Supervisory Landscape
Xiao, Yingbin - International Monetary Fund (IMF) - 2013
phasing out gradually deferred-amortization mortgage loans and introducing risk-adjusted deposit insurance premia. …
Persistent link: https://www.econbiz.de/10011142084
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Banks' Liability Structure and Mortgage Lending During the Financial Crisis
Dagher, Jihad; Kazimov, Kazim - International Monetary Fund (IMF) - 2012
credit during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding … credit. The disaggregated data on mortgage applications that we use allows us to study the time variations in banksâ …€™ decisions to grant mortgage loans, while controlling for bank, borrower, and regional characteristics. The wealth of data also …
Persistent link: https://www.econbiz.de/10011142090
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Asset Price Bubbles; A Selective Survey
Scherbina, Anna - International Monetary Fund (IMF) - 2013
Why do asset price bubbles continue to appear in various markets? This paper provides an overview of recent literature on bubbles, with significant attention given to behavioral models and rational models with frictions. Unlike the standard rational models, the new literature is able to model...
Persistent link: https://www.econbiz.de/10011242201
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Global Housing Cycles
Igan, Deniz; Loungani, Prakash - International Monetary Fund (IMF) - 2012
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....
Persistent link: https://www.econbiz.de/10010790415