Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher; … - International Monetary Fund (IMF) - 2013
We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these...