that austerity measures have been approved by the legislature (congress or parliament), in periods of high sovereign … spreads such that countries with high spread levels stand to benefit the most from putting in place credible austerity …

inequality. Episodes marked by extreme austerity-measured using either the government's fiscal balance, health expenditures or …

market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic …

Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper …, financial stability, and housing affordability. Not surprisingly, when faced with multiple objectives, deploying more policy …

of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the …

To identify and quantify downside risks to housing markets, we apply the house price-at-risk methodology to a sample of … risks to housing markets in the United States have seemingly fallen over the past decade, while having increased in Canada … risks. In addition, capital flows are found to be significantly associated with future downside risks to major housing …