This study aims to establish a proportional perspective of the contribution of UK mortgage lenders to the domestic housing bubble and the ensuing financial crisis, based on a carefully built theoretical framework. The theory captures credit constraint as a transmission mechanism for speculative...

We examine house price co-movements within and cross four major economic blocks: North America, Europe, Oceania and the Far East. The purpose of this study is to establish: (1) Whether there was increased house price correlation within a given economic block or across different blocks in the...