Showing 1 - 10 of 79
The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as...
Persistent link: https://www.econbiz.de/10009019603
This paper examines housing finance and housing price dynamics in selected emerging Middle Eastern economies over the … capita consumer spending volatility this decade; (ii) a downward price correction occurred in the housing market after 2007 …
Persistent link: https://www.econbiz.de/10008561070
We implement a three-step procedure to assess the extent of exposure to real estate in commercial banks. First, we demonstrate interest rates and income to be the major determinants of delinquency. Then, we adopt a stress testing approach to calculate the impact of any adverse changes in these...
Persistent link: https://www.econbiz.de/10008541450
This paper studies the impact of housing market cycles on loss given default (LGD). Previous studies have shown that …
Persistent link: https://www.econbiz.de/10008560443
Spain’s housing boom was supported by rapid economic expansion, strong employment growth, an immigration boom, and … 2010, employment and value added in construction are projected to halve as peak housing starts are completed. The …, housing market cyclicality could be reduced by fading out generous home ownership incentives. …
Persistent link: https://www.econbiz.de/10011243185
With another real estate boom-bust bringing woes to the world economy, a quest for a better policy toolkit to deal with these boom-busts has begun. Macroprudential measures could be in such a toolkit. Yet, we know very little about their impact. This paper takes a step to fill this gap by...
Persistent link: https://www.econbiz.de/10009401203
The note delves on the U.S. housing market outlook, the potential benefits of mitigating distressed sales household …
Persistent link: https://www.econbiz.de/10011242497
serve both the redistributive and growth-enhancing objectives of poverty reduction policies. The current state of housing … growth of alleviating housing shortages by improving access to mortgage financing. …
Persistent link: https://www.econbiz.de/10005825998
the housing boom. We find that the the last three rounds of macroprudential policies implemented since 2010 were … could be effective if the housing boom were to reignite. Over the medium term, the authorities could consider structural … measures to further improve the soundness of housing finance. …
Persistent link: https://www.econbiz.de/10011123836
This paper analyses the characteristics and functioning of real estate markets. It focuses on the relationship between developments in these markets and the financial sector to determine under what circumstances real estate booms and busts can develop and how they can affect the health and...
Persistent link: https://www.econbiz.de/10005248144