The paper deals with financial and demographic factors influencing the Italian residential building sector during the next decades. In particular, it is shown that, due to the reduction of public pensions coverage, many elderly people will enjoy inadequate incomes. Housing partnership and...

The study examines foreign currency lending in Hungary. It states that: 1. The original reason behind foreign currency lending was the difference between the interest on foreign currency and Hungarian forint loans; 2. Foreign currency loans showed otherwise uncreditworthy clients as...

Recent history suggests that many boom–bust cycles are naturally driven by linkages between the credit market and asset prices. Additionally, new structured securities have been developed, e.g., MBS, CDOs, and CDS, which have acted as instruments of risk transfer. We show that there is a...