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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 recent boom-bust episode in Emerging Europe was largely the product of surges and sudden stops in capital inflows …
Persistent link: https://www.econbiz.de/10009019584
Real estate investment accounts for a quarter of total fixed asset investment (FAI) in China. The real estate sector’s extensive industrial and financial linkages make it a special type of economic activity, especially where the credit creation process relies primarily on collateral, like...
Persistent link: https://www.econbiz.de/10011142057
Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying...
Persistent link: https://www.econbiz.de/10008777035
Investment has grown rapidly in China in recent years, reaching more than 40 percent of GDP. Despite good progress on bank and enterprise reforms, weaknesses remain that could contribute to inefficient investment decisions. Manufacturing, infrastructure, and real estate have been the drivers of...
Persistent link: https://www.econbiz.de/10005604880
in Europe with a focus on these two groups, looking at contributions from cyclical and other factors, and seeking to draw …
Persistent link: https://www.econbiz.de/10011242288
The crisis in Europe has underscored the vulnerability of European bank funding models compared to international peers … Europe. We argue that cyclical and structural factors have altered the structure, cost, and composition of funding for …
Persistent link: https://www.econbiz.de/10011242310
countries with the advanced Europe countries. The results show strong co-movements in output growth and interest rates but … weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of … small but notable impact of CESEE countries on the rest of the Europe. …
Persistent link: https://www.econbiz.de/10011242313
This paper argues that the large differences among EU countries in post-crisis employment performance are to a large extent driven by the need to adjust corporate balance sheets, which had greatly deteriorated during the boom years in some countries but not in others. To close the large gaps...
Persistent link: https://www.econbiz.de/10011242321
For a sample of 83 financial institutions during 2003–2011, this paper attempts to answer three questions: first, what is the evolution of banks’ stock price exposure to country-level and global risk factors as approximated by equity indices; second, which bank-specific characteristics...
Persistent link: https://www.econbiz.de/10011242342