This study investigates whether an increase in cross-border bank lending can lead to spillover effects among housing markets of developed countries using a dynamic spatial panel model. Variations in house prices in one country can spill over house prices in other countries by transmitting...

Motivated by the coincidence of unexpected property price inflation, credit expansion and low interest rate in the U.S. market prior to the 2007 crisis, this paper investigates the interactions among the boom-bust cycles in the sector of housing, credit and real activities using a non-linear...