This paper argues that asset price cycles have significant effects on fiscal outcomes. In particular, there is evidence of debt bias—the tendency of debt to increase over the cycle— that is significantly larger for house price cycles than stand-alone business cycles. Automatic stabilizers...

This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over the period 2010-2019. UsingJordà's (2005) local projection method, we find that house prices rise in response to expansionary monetary policy shocks that can be related to...

US net capital inflows drive the international synchronization of house price growth. An increase (decrease) in US net capital inflows improves (tightens) US dollar funding conditions for non-US global banks, leading them to increase (decrease) foreign lending to third-party borrowing countries....

Purpose By observing facts of the "reversal of agglomeration" of Chinese enterprises during the period of rapid Internet development and using a new economic geography model combined with the data of the real estate sector, this paper deduces the influence of the "reshaping mechanisms" of the...

Purpose:The article analyzes the effects of the COVID-19 pandemic on house prices.Design/Methodology/Approach:We start by discussing the possibility that house price indexes may not fully incorporate the effects of the pandemic as of yet. Against the background of the pandemic, we then analyze...

The article analyzes the effects of the COVID-19 pandemic on commercial real estate prices. We start by highlighting caveats to bear in mind when referring to direct real estate indices. We then analyze the behavior of commercial real estate prices during the pandemic, emphasizing differences...