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Low interest rates and housing booms : the role of capital inflows, monetary policy and financial innovation
Sá, Filipa; Towbin, Pascal; Wieladek, Tomasz - 2011
how these effects change with the structure of the mortgage market and the degree of securitisation, we augment the VAR to … let the coefficients vary with mortgage market characteristics. Our results suggest that both types of shocks have a … responses of housing variables to both types of shocks are stronger in countries with more developed mortgage markets, roughly …
Persistent link: https://www.econbiz.de/10008860092
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Low Interest Rates and Housing Booms : The Role of Capital Inflows, Monetary Policy and Financial Innovation
Sá, Filipa - 2015
how these effects change with the structure of the mortgage market and the degree of securitisation, we augment the VAR to … let the coefficients vary with mortgage market characteristics. Our results suggest that both types of shocks have a … responses of housing variables to both types of shocks are stronger in countries with more developed mortgage markets, roughly …
Persistent link: https://www.econbiz.de/10013038258
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Capital inflows, financial structure and housing booms
Sá, Filipa; Towbin, Pascal; Wieladek, Tomasz - In: Journal of the European Economic Association 12 (2014) 2, pp. 522-546
Persistent link: https://www.econbiz.de/10010496426
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The macroeconomic effects of housing wealth, housing finance, and limited risk-sharing in general equilibrium
Favilukis, Jack; Ludvigson, Sydney C.; Nieuwerburgh, … - 2010
Persistent link: https://www.econbiz.de/10003972346
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Monetary policy, capital inflows and the housing boom
Sá, Filipa; Wieladek, Tomasz - 2010
A range of hypotheses have been put forward to explain the boom in house prices that occurred in the United States from the mid-1990s to 2007. This paper considers the relative importance of two of these hypotheses. First, global imbalances increased liquidity in the US financial system, driving...
Persistent link: https://www.econbiz.de/10008747106
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Capital inflows and the U. S. housing boom
Sá, Filipa; Wieladek, Tomasz - In: Journal of money, credit and banking : JMCB 47 (2015), pp. 221-256
Persistent link: https://www.econbiz.de/10010533097
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Monetary policy, capital inflows, and the housing boom
Sá, Filipa; Wieladek, Tomasz - 2011
Persistent link: https://www.econbiz.de/10009231418
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The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
Favilukis, Jack Y - 2015
This paper studies the role of time-varying risk premia as a channel for generating and propagating fluctuations in housing markets, aggregate quantities, and consumption and wealth heterogeneity. We study a two-sector general equilibrium model of housing and non-housing production where...
Persistent link: https://www.econbiz.de/10013038440
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The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
Favilukis, Jack Y - 2015
This paper studies the role of time-varying risk premia as a channel for generating and propagating fluctuations in housing markets, aggregate quantities, and consumption and wealth heterogeneity. We study a two-sector general equilibrium model of housing and non-housing production where...
Persistent link: https://www.econbiz.de/10013038446
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The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
Favilukis, Jack Y - 2015
This paper studies a quantitative general equilibriummodel of the housing market where a large number of overlapping generations of homeowners face both idiosyncratic and aggregate risks but have limited opportunities to insure against these risks due to incomplete financial markets and...
Persistent link: https://www.econbiz.de/10013038824