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Global House Price Fluctuations : Synchronization and Determinants

Hirata, Hideaki - 2013

We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these...

Persistent link: https://www.econbiz.de/10013086308

Housing Price, Credit, and Output Cycles : How Domestic and External Shocks Impact Lithuania's Credit

Ioannou, Iacovos - 2018

Lithuania's current credit cycle highlights the strong link between housing prices and credit. We explore this relationship in more detail by analyzing the main features of credit, housing price, and output cycles in Baltic and Nordic countries during1995-2017. We find a high degree of...

Persistent link: https://www.econbiz.de/10012912503

Great Recession and Fiscal Squeeze at U.S. Subnational Government Level

Jonas, Jiri - 2012

The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the...

Persistent link: https://www.econbiz.de/10013098614

Banks' Liability Structure and Mortgage Lending During the Financial Crisis

Dagher, Jihad C. - 2012

during the financial crisis in the United States. We focus on mortgage lending to minimize the impact of confounding demand … disaggregated data on mortgage applications that we use allows us to study the time variations in banks' decisions to grant mortgage … credit significantly more than retail-funded banks during the crisis. The demand for mortgage credit, on the other hand …

Persistent link: https://www.econbiz.de/10013102174

Guyana : Housing Market and Implications for Macroprudential Policies

Chow, Julian T.S. - 2020

Guyana's residential real estate prices have been rising, particularly in the capital city Georgetown, following the discovery of oil in 2015. In line with the growing demand for housing, commercial banks' housing loans have increased, prompting higher household debt. This paper presents two...

Persistent link: https://www.econbiz.de/10012840608

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Chan-Lau, Jorge A. - 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

Persistent link: https://www.econbiz.de/10013098630

The Impact of Uncertainty Shocks on the UK Economy

Denis, Stephanie - 2013

This paper quantifies the economic impact of uncertainty shocks in the UK using data that span the recent Great Recession. We find that uncertainty shocks have a significant impact on economic activity in the UK, depressing industrial production and GDP. The peak impact is felt fairly quickly at...

Persistent link: https://www.econbiz.de/10013084150

Do Asset Price Drops Foreshadow Recessions?

Bluedorn, John C. - 2013

This paper examines the usefulness of asset prices in predicting recessions in the G-7 countries. It finds that asset price drops are significantly associated with the beginning of a recession in these countries. In particular, the marginal effect of an equity/house price drop on the likelihood...

Persistent link: https://www.econbiz.de/10013073778

Procyclical Behavior of Institutional Investors During the Recent Financial Crisis : Causes, Impacts, and Challenges

Papaioannou, Michael G. - 2013

This paper (i) provides evidence on the procyclical investment behavior of major institutional investors during the global financial crisis; (ii) identifies the main factors that could account for such behavior; (iii) discusses the implications of procyclical behavior; and (iv) proposes a...

Persistent link: https://www.econbiz.de/10013074694

Inflation and Output Comovement in the Euro Area : Love at Second Sight?

Andrle, Michal - 2013

This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. Our results suggest that at business cycle frequency, the output and core inflation comovement is high and...

Persistent link: https://www.econbiz.de/10013074695