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Housing price and investment dynamics in Finland
André, Christophe; García, Clara - 2012
line with the model estimates. Housing market volatility is exacerbated by fluctuations in the wider economy, which given … volatility. The paper describes institutional characteristics of the Finnish housing market that bear on house price volatility …
Persistent link: https://www.econbiz.de/10009690120
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Financial frictions and the real economy
Pietrunti, Mario - 2017
This paper investigates in a non-linear setting the impact on the real economy of frictions stemming from the financial sector. We develop a medium scale DSGE model with a banking sector where an occasionally binding constraint on banks' capital induces a relevant non-linearity. The model -...
Persistent link: https://www.econbiz.de/10011976236
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A revival of the private rental sector of the housing market? : lessons from Germany, Finland, the Czech Republic and the Netherlands
Boer, Rik de; Bitetti, Rosamaria - 2014
This Working Paper studies ways to stimulate the private rental sector (PRS) of the housing market – and compares experiences with policies and reforms in Germany, the Netherlands, Finland and the Czech Republic. Although in many countries the PRS has decreased in importance since the Second...
Persistent link: https://www.econbiz.de/10010464867
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Housing, financial and capital taxation policies to ensure robust growth in Sweden
McGowan, Muge Adalet - 2013
Extensive structural reforms since the early 1990s have strengthened the resilience of the Swedish economy to shocks. However, more needs to be done to better manage near-term risks and ensure that growth remains sustainable in the longer run. Reforming the housing market would reduce the risks...
Persistent link: https://www.econbiz.de/10009711216
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Deconstructing Canada's housing markets : finance, affordability urban sprawl
Cheung, Calista - 2014
House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs. Although macro-prudential tightening has slowed the pace of household borrowing in the last few years, house prices have continued to trend...
Persistent link: https://www.econbiz.de/10010464985
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The drivers of Norway's house prices
Sila, Urban - 2020
In this paper, we explore the drivers of house prices in Norway, using a cross-country panel framework. Empirical results confirm that house prices are determined by numerous demand and supply factors, including income, demographics, macroeconomic conditions, stock of housing and institutional...
Persistent link: https://www.econbiz.de/10012203289
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Maintaining an efficient and equitable housing market in Belgium
Zwart, Sanne - 2015
Housing conditions in Belgium are among the best in OECD countries according to the Better Life Index, as dwellings are of high quality and large, and housing costs are average. However, the steep increase in house prices since 2003 has put market access for first-time buyers under pressure....
Persistent link: https://www.econbiz.de/10011399317
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Implications of macroeconomic volatility in the Euro area
Hauzenberger, Niko; Böck, Maximilian; Pfarrhofer, Michael - 2018
In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to … assess the effects of an uncertainty shock in the Euro area. This allows us to treat macroeconomic uncertainty as a latent … consequences jointly, and most are based on single country models. We analyze the special case of a shock restricted to the Euro …
Persistent link: https://www.econbiz.de/10011978764
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Growth-promoting policies and macroeconomic stability
Sutherland, Douglas; Höller, Peter - 2013
Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...
Persistent link: https://www.econbiz.de/10010231015
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The future of housing : policy scenarios
Cournède, Boris; Ziemann, Volker; De Pace, Frederica - 2020
By combining fresh estimates of housing supply and prices with recent long-term projections for their fundamental drivers such as population, income and interest rates, this paper produces scenarios for residential investment and real house prices up to 2050. For half of the covered countries,...
Persistent link: https://www.econbiz.de/10012304426