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Supply restrictions, subprime lending and regional US house prices

Anundsen, André Kallåk; Heebøll, Christian - 2015

, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …

Persistent link: https://www.econbiz.de/10010488113

Betting the house

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10010468583

How monetary policy shaped the housing boom

Schnabl, Philipp; Savov, Alexi; Drechsler, Itamar - 2019

Persistent link: https://www.econbiz.de/10012212820

Macroprudential policy, mortgage cycles and distributional effects : evidence from the UK

Peydró, José-Luis; Tripathy, Jagdish; Rodríguez … - 2020

Persistent link: https://www.econbiz.de/10012304083

Re-examining the decline in the US saving rate : the impact of mortgage equity withdrawal

Caporale, Guglielmo Maria; Costantini, Mauro; Paradiso, … - 2012

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …

Persistent link: https://www.econbiz.de/10009571747

Systematic monetary policy and the macroeconomic effects of shifts in loan-to-value ratios

Bachmann, Ruediger; Rüth, Sebastian - 2017

What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as … instrument, and, as a result, mortgage rates increase and residential investment declines. The monetary policy reaction function …. Without the endogenous monetary policy reaction residential investment increases. House prices and household (mortgage) debt …

Persistent link: https://www.econbiz.de/10011646925

Long-run trends and cycles in US house prices

Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2023

This paper analyses US nominal house prices at an annual frequency over the period from 1927 to 2022 by means of a very general time series model. This includes both a (linear and non-linear) deterministic and a stochastic component, with the latter allowing for fractional orders of integration...

Persistent link: https://www.econbiz.de/10014427184

On the cyclicity of regional house prices : new evidence for US metropolitan statistical areas

Flor, Michael A.; Klarl, Torben - 2015

This paper is mainly concerned with the analysis of regional house price cycles. Based on a newly available data set consisting of the 40 largest U.S. Metropolitan Statistical Areas (MSAs), we introduce a wavelet transform based metric to study the housing cycle synchronization across MSAs. We...

Persistent link: https://www.econbiz.de/10011306112

House prices, local demand, and retail prices

Stroebel, Johannes; Vavra, Joseph - 2015 - This draft: August 2015

We use detailed micro data to document a causal response of local retail price to changes in house prices, with elasticities of 15%-20% across housing booms and busts. Notably, these price responses are largest in zip codes with many homeowners, and non-existent in zip codes with mostly renters....

Persistent link: https://www.econbiz.de/10011387343

Market frictions, arbitrage, and the capitalization of amenities

Ouazad, Amine; Rancière, Romain - 2019

Persistent link: https://www.econbiz.de/10012151305