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Bank-specific shocks and house price growth in the U.S.

Bremus, Franziska; Krause, Thomas; Noth, Felix - 2017

This paper investigates the link between mortgage supply shocks at the banklevel and regional house price growth in the U.S. using micro-level data on mortgage markets from the Home Mortgage Disclosure Act for the 1990-2014 period. Our results suggest that bank-specific mortgage supply shocks...

Persistent link: https://www.econbiz.de/10011595949

Immobilienkrise?: Warum in Deutschland die Preise seit Jahren stagnieren

Kholodilin, Konstantin A.; Menz, Jan-Oliver; … - In: DIW Wochenbericht 75 (2008) 17, pp. 214-220

Die derzeitigen Turbulenzen auf den Immobilienmärkten in Ländern wie den USA und Spanien verstellen den Blick auf die längerfristige Entwicklung der realen Immobilienpreise. Während sie in den vergangenen Jahren in vielen westlichen Industrieländern deutlich anzogen, stagnieren sie...

Persistent link: https://www.econbiz.de/10011601808

Spekulative Preisentwicklung an den Immobilienmärkten: Elemente eines Frühwarnsystems

Dreger, Christian; Kholodilin, Konstantin A. - In: DIW Wochenbericht 78 (2011) 37/38, pp. 2-9

Von spekulativen Übertreibungen an den Vermögensmärkten können erhebliche makroökonomische Verluste für Produktion und Beschäftigung ausgehen. Solche Entwicklungen sollten möglichst frühzeitig und verlässlich erkannt werden, um eine Gegensteuerung durch entsprechende...

Persistent link: https://www.econbiz.de/10011602407

House Prices, Money, Credit and the Macroeconomy.

Goodhart, Charles; Hofmann, Boris - 2008

This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...

Persistent link: https://www.econbiz.de/10011604934

House Prices and the stance of Monetary Policy.

Jarociński, Marek; Smets, Frank - 2008

This paper estimates a Bayesian VAR for the US economy which includes a housing sector and addresses the following … questions. Can developments in the housing sector be explained on the basis of developments in real and nominal GDP and interest … rates? What are the effects of housing demand shocks on the economy? How does monetary policy affect the housing market …

Persistent link: https://www.econbiz.de/10011604937

Asset price misalignments and the role of money and credit

Gerdesmeier, Dieter; Roffia, Barbara; Reimers, Hans-Eggert - 2009

This paper contributes to the literature on the properties of money and credit indicators for detecting asset price misalignments. After a review of the evidence in the literature on this issue, the paper discusses the approaches that can be considered to detect asset price busts. Considering a...

Persistent link: https://www.econbiz.de/10011605114

Booms and busts in housing markets: determinants and implications

Agnello, Luca; Schuknecht, Ludger - 2009

Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a …

Persistent link: https://www.econbiz.de/10011605117

Signals from housing and lending booms

Bunda, Irina; Ca' Zorzi, Michele - 2009

, strong real growth and high public debt-to-GDP ratio increase the probability that a lending or housing boom would be …

Persistent link: https://www.econbiz.de/10011605140

Housing, consumption and monetary policy: how different are the US and the euro area?

Musso, Alberto; Neri, Stefano; Stracca, Livio - 2010

The paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the US and … in the euro area. First, it establishes some stylised facts concerning key variables in the housing market, such as the …, (ii) credit supply and (iii) housing demand shocks on the housing market and the broader economy. We find that …

Persistent link: https://www.econbiz.de/10011605207

Asset pricing and housing supply in a production economy

Jaccard, Ivan - 2012

and equity returns. In a model generating costly business cycle fluctuations, we find that restrictions on housing supply …

Persistent link: https://www.econbiz.de/10011605499