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The COVID-19 pandemic further extended the multi-year housing boom in advanced economies and emerging markets alike ….S. residential housing market due to higher house prices associated with monetary easing. We first set up a stylized general … housing affordability for first-time homebuyers, and increase housing wealth inequality between first-time and repeat …
Persistent link: https://www.econbiz.de/10014258218
Housing market developments are in the spotlight in Europe. Over-stretched valuations amid tightening financial … macroprudential policy between ensuring financial system resilience and smoothing the macro-financial cycle. Against this backdrop …, this paper provides detailed considerations regarding how to (re)set macroprudential policy tools in response to housing …
Persistent link: https://www.econbiz.de/10014355770
of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the …
Persistent link: https://www.econbiz.de/10012918551
This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million …-primary home buyers to the housing cycle. Our findings suggest that the share of short-term investors grew substantially in the run … housing investors and prices. Finally, we show that the recent rise of shadow bank lending in the residential market is …
Persistent link: https://www.econbiz.de/10013315117
Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these …
Persistent link: https://www.econbiz.de/10013306803
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 analyses which suggest that housing prices in Georgetown and banks' lending to … the housing sector appear to be in their early stages of growth. However, given the data limitations and caveats that …
Persistent link: https://www.econbiz.de/10012840608
estimate the range of house price overvaluation acrosscity-tiers and assesses the main risks of a sharp housing market slowdown … measures and push forwardreforms to address the fundamental imbalances in the residential housing market …
Persistent link: https://www.econbiz.de/10012942329
This paper examines the efficacy of macroprudential policies in addressing housing prices in a developing country while … of fundamental factors in driving housing prices. There is compelling evidence of the effectiveness of macroprudential … tools viz., Loan-to-value (LTV) ratio, risk weights, and provisioning requirements, in influencing housing price movements …
Persistent link: https://www.econbiz.de/10013250071
We show that macroprudential regulation can considerably dampen the impact of globalfinancial shocks on emerging markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital flow shocks. A broad set ofmacroprudential tools contribute...
Persistent link: https://www.econbiz.de/10012828057
This paper explores what history can tell us about the interactions between macroprudential and monetary policy. Based on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were commonly used as monetary policy tools by central banks...
Persistent link: https://www.econbiz.de/10012863975