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The Housing Cycle in Emerging Middle Eastern Economies and its Macroeconomic Policy Implications
Beidas-Strom, Samya; Lian, Weicheng; Maseeh, Ashwaq - International Monetary Fund (IMF) - 2009
past two decades. It finds that (i) mortgage markets have experienced rapid development, which has led to lower private per …
Persistent link: https://www.econbiz.de/10008561070
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Stresstesting Household Debt in Korea
Karasulu, Meral - International Monetary Fund (IMF) - 2008
Korean household debt has reached 148 percent of disposable income, high by emerging market standards. Most of this debt remains at variable rates, shifting the interest rate risk from better diversified financial institutions to households and increasing their sensitivity to macroeconomic...
Persistent link: https://www.econbiz.de/10005769235
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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
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Canada; Selected Issues
International Monetary Fund (IMF); International … - 2009
This Selected Issues paper on Canada examines economic development and policies. Capital ratios before the crisis have been a key determinant of bank performance during the turmoil; and Canadian banks had ample capital. Specifically, most banks with critically low capital at end-2006 later...
Persistent link: https://www.econbiz.de/10011244253
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Spain; Selected Issues
International Monetary Fund (IMF); International … - 2011
Rebalancing in Spain’s private sector is under way, but with more modest progress on reducing stocks. Spain is subject to significant spending pressures, reflecting unfavorable demographic trends and subdued growth prospects, and will require substantial structural reform. Priority...
Persistent link: https://www.econbiz.de/10011245500
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Foreclosure Mitigation Efforts in the United States; Approaches and Challenges
Klyuev, Vladimir; Kiff, John - International Monetary Fund (IMF) - 2009
projected to go even higher. While most of the time a foreclosure is a suboptimal resolution of a distressed mortgage, a number … of features of the mortgage finance system often prevent loan modifications. This paper reviews the impediments to … successful mortgage restructuring and proposes a number of ways to improve the situation. The proposals build on the recognition …
Persistent link: https://www.econbiz.de/10011245863
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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
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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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Mortgage Market Development, Savings, and Growth
Li, Xiaowei - International Monetary Fund (IMF) - 2001
Jappelli and Pagano (1994) argues that tightening the borrowing constraints in the mortgage markets promotes savings … savings and growth rates to fall. Therefore, for countries with scarce mortgage availability like those in the Middle East …, expanding the mortgage markets to some extent is conducive to savings and growth. …
Persistent link: https://www.econbiz.de/10005263983
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Mortgage Defaults
Martinez, Leonardo; Hatchondo, Juan Carlos; Sanchez, Juan M. - International Monetary Fund (IMF) - 2012
life-cycle profile of home ownership, and the mortgage default rate. The average coefficients that measure the agents …
Persistent link: https://www.econbiz.de/10009650640