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This paper analyzes whether housing-related macroprudential policy has heterogeneous effects on house price growth in … drivers of local house price dynamics and examine the potential heterogeneity of housing-related macroprudential policy … market activity, and changes in local household indebtedness. We find more dampening effects of the common macroprudential …
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This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house...
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This paper studies how mortgage borrowers and house prices react to a tightening of mortgage limits following a policy change in Ireland in 2015. The policy introduced limits to the loan-to-income and loan-to-value ratios of new mortgages issued. In response to a tightening borrowing constraint,...
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Individual sales prices and local vacancy rates in the housing market pose a natural analogy to the wage curve, a popular concept in labor economics that describes how individual wages decrease with higher local unemployment. While housing search and matching models and housing externalities...
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