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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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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
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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
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Exposure to Real Estate Losses; Evidence from the US Banks
Pinheiro, Marcelo; Igan, Deniz - International Monetary Fund (IMF) - 2009
mortgage interest rate leads to a 20 percent decrease in a typical bank's distance to default. Finally, we look at the cross …
Persistent link: https://www.econbiz.de/10008541450
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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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Interest Rate Elasticity of Residential Housing Prices
Iossifov, Plamen; Cihák, Martin; Shanghavi, Amar - International Monetary Fund (IMF) - 2008
We examine the interest rate elasticity of housing prices, advancingthe empirical literature in two directions. First, we take a commonly used cross-country panel dataset and evaluate the housing price equation using a consistent estimator in the presence of endogenous explanatory variables and...
Persistent link: https://www.econbiz.de/10005604881
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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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Do Loan-To-Value and Debt-To-Income Limits Work? Evidence From Korea
Igan, Deniz; Kang, Heedon - International Monetary Fund (IMF) - 2011
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
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Latin America; Vulnerabilities Under Construction?
Cubeddu, Luis M.; Mora, Camilo Ernesto Tovar; Tsounta, … - International Monetary Fund (IMF) - 2012
This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and … compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess … whether (i) growth in mortgage credit is excessive compared to long-term trends; (ii) trends in house prices reflect changes …
Persistent link: https://www.econbiz.de/10011242412
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United States; Selected Issues
International Monetary Fund (IMF); International … - 2011
Treasury inflation protected securities (TIPS), budget institutions for federal fiscal consolidation, and mortgage …
Persistent link: https://www.econbiz.de/10011242497