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Policies for Macrofinancial Stability; Options to Deal with Real Estate Booms

Dell'Ariccia, Giovanni; Rabanal, Pau; Crowe, Christopher W. - International Monetary Fund (IMF) - 2011

DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...

Persistent link: https://www.econbiz.de/10011245885

How to Deal with Real Estate Booms; Lessons From Country Experiences

Rabanal, Pau; Crowe, Christopher W.; Dell'Ariccia, Giovanni - International Monetary Fund (IMF) - 2011

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

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

Can Covered Bonds Resuscitate Residential Mortgage Finance in the United States?

Surti, Jay - International Monetary Fund (IMF) - 2010

This paper considers the case for mortgage covered bonds as an alternative to the originate-to-distribute mortgage … mortgage loan quality in the United States - potentially reflecting borrower incentives under the personal bankruptcy framework …

Persistent link: https://www.econbiz.de/10008777017

Is there a Role for Funding in Explaining Recent U.S. Banks' Failures?

Bologna, Pierluigi - International Monetary Fund (IMF) - 2011

This paper tests the role of different banks' liquidity funding structures in explaining the banks' failures, which occurred in the United States between 2007 and 2009. The results highlight that funding is indeed a significant factor in explaining banks' probability of default. By confirming...

Persistent link: https://www.econbiz.de/10009203531

Risk Exposures and Financial Spillovers in Tranquil and Crisis Times; Bank-Level Evidence

Poirson, Hélène; Schmittmann, Jochen M. - International Monetary Fund (IMF) - 2013

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

The Dynamics of the Term Structure of Interest Rates in the United States in Light of the Financial Crisis of 2007-2010

Waldo, Marco Rodriguez; Medeiros, Carlos I. - International Monetary Fund (IMF) - 2011

This paper assesses the dynamics of the term structure of interest rates in the United States in light of the financial crisis in 2007-10. In particular, this paper assesses the dynamics of the term structure of U.S. Treasury security yields in light of economic and financial events and the...

Persistent link: https://www.econbiz.de/10009019574

Financial innovation, the Discovery of Risk, and the U.S. Credit Crisis

Mendoza, Enrique G.; Boz, Emine - International Monetary Fund (IMF) - 2010

Uncertainty about the riskiness of new financial products was an important factor behind the U.S. credit crisis. We show that a boom-bust cycle in debt, asset prices and consumption characterizes the equilibrium dynamics of a model with a collateral constraint in which agents learn "by...

Persistent link: https://www.econbiz.de/10008560424

Belgium; Selected Issues

International Monetary Fund (IMF); International … - 2006

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 Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth; A Survey of Selected Mena Countries

Nothaft, Frank E.; Erbas, S. Nuri - International Monetary Fund (IMF) - 2002

This paper argues that making affordable home mortgage loans available to a large cross section of the population will … and mortgage markets in selected Middle East and North Africa (MENA) countries (Algeria, Egypt, Jordan, Morocco, and … growth of alleviating housing shortages by improving access to mortgage financing. …

Persistent link: https://www.econbiz.de/10005825998

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