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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

Low Interest Rates and Housing Booms : The Role of Capital Inflows, Monetary Policy and Financial Innovation

Sá, Filipa - 2015

Persistent link: https://www.econbiz.de/10013038258

Housing bubbles, the leverage cycle and the role of central banking

Hessel, Jeroen; Peeters, Jolanda Johanna Wilhelmina - 2011

Persistent link: https://www.econbiz.de/10009686212

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...