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Housing market regulation has contributed to the worldwide triumph of home ownership
Cholodilin, Konstantin Arkadʹevič; Kohl, Sebastian - In: DIW weekly report : economy, politics, science : a … 9 (2019) 38, pp. 345-352
The present report presents new historical data based on country comparisons and research results regarding rent control and its long-term effect on the home ownership rate in 27 countries. Policy measures of rent control, protection against eviction, and housing space management have been...
Persistent link: https://www.econbiz.de/10012110819
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Mortgage Market Flexibility and the Transmission of House Price Shocks : A Multi-Country Study
Reusens, Peter - 2015
This paper assesses how the degree of the mortgage market flexibility alters the effect of a residential house price … credit and GDP response to a house price shock in countries with a more flexible mortgage market …
Persistent link: https://www.econbiz.de/10013012915
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Mortgage interest deductions and homeownership : an international survey
Bourassa, Steven C.; Haurin, Donald R.; Hendershott, … - 2012
The aim of this paper is to review the international evidence on the impacts of mortgage interest deductions on … homeownership rates. The probability of becoming a homeowner is a function of the relative cost of owning and renting, borrowing … supply is inelastic. homeownership ; tax policy ; prices …
Persistent link: https://www.econbiz.de/10009558474
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Nevertheless, they persist : cross-country differences in homeownership behavior
Huber, Stefanie J.; Schmidt, Tobias - 2022 - Version: November 26, 2021
Cross-country differences in homeownership rates are large and persistent over time, with homeownership rates ranging … across generations-may value homeownership differently, and could thus be a driving demand factor of the homeownership … decision. To isolate the effect of cultural preferences regarding homeownership from the impact of other economic factors, we …
Persistent link: https://www.econbiz.de/10012817099
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Monetary policy and global banking
Bräuning, Falk; Ivashina, Victoria - 2017 - This version: December 23, 2016
Global banks use their global balance sheets to respond to local monetary policy. However, sources and uses of funds are often denominated in different currencies. This leads to a foreign exchange (FX) exposure that banks need to hedge. If cross-currency flows are large, the hedging cost...
Persistent link: https://www.econbiz.de/10011687276
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Liquidity Traps, Prudential Policies, and International Spillovers
Bianchi, Javier; Coulibaly, Louphou - National Bureau of Economic Research - 2022
This paper studies the transmission channels of monetary and macroprudential policies in an open economy framework and evaluates the normative implications for international spillovers and global welfare. An analytical decomposition uncovers the prominent role of expenditure switching for...
Persistent link: https://www.econbiz.de/10013210066
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10010271353
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10003934687
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Financial Development, Non-Bank E-Money, and Central Bank Digital Currency
Wang, Xin; Hu, Xiaoxiong - 2022
We develop a new framework to examine the effects of retail central bank digital currencies (CBDCs) on financial inclusion and stability, particularly how the results depend on an economy's existing degree of financial development. We demonstrate that when offering CBDCs in underdeveloped...
Persistent link: https://www.econbiz.de/10013294560
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Scarcity of Safe Assets and Global Neutral Interest Rates
R.T. Ferreira, Thiago; Shousha, Samer - 2020
We quantitatively evaluate the role of supply and demand of safe assets in determining neutral interest rates. Using an empirical cross-country state-space model, we find that the net supply of sovereign safe assets available to the private sector in secondary markets is an important driver of...
Persistent link: https://www.econbiz.de/10014352282