The global financial crisis and housing: a new policy paradigm

This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How has the Global Financial Crisis shifted our view and u...

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Format: Buch
Sprache:English
Veröffentlicht: Cheltenham [u.a.] Elgar 2014
Schriftenreihe:KDI series in economic policy and development
Schlagworte:
Zusammenfassung:This innovative book analyses the role played by real estate markets in global financial stability and examines the fragile link between the two. Through what transmission channels do housing market cycles influence broader economic systems? How has the Global Financial Crisis shifted our view and understanding of these linkages? This detailed book answers these questions in an international comparative perspective. Specific topics covered include macroeconomic transmission channels of the housing cycle, the role of housing in the finance system, construction financing as a cycle amplifier, and various related public policy issues such as the policy remedies needed to deal with housing and mortgage-driven crises. Eminent scholars in the field provide insightful and original contributions, which will appeal to academics in the areas of macroeconomics, policy analysis and financial regulation. Practitioners involved in real estate and the mortgage market will also find it to be of interest
Beschreibung:1. Global financial crisis and housing : a new policy paradigm / Susan Wachter, Man Cho and Moon Joong Tcha -- 2. Macroeconomics of housing / Matteo Iacoviello -- 3. Housing and business cycles in Korea : assessing the role of housing volume cycles / Young Il Kim -- 4. Global financial crisis and early warning system of Korean housing market / Seoung Hwan Suh and Kabsung Kim -- 5. Housing price and mortgage credit cycles : tales of two countries / Man Cho -- 6. Transatlantic mortgage credit boom and bust : the impact of market structure and regulation / Hans-Joachim Dübel and Dr. Finpolconsult -- 7. Financing real estate development : a case study of US real estate market in 2000s / Min Hwang -- 8. Construction financing in Taiwan : current state and policy regime / Chin-Oh Chang and Ming-Chi Chen -- 9. Korea's development finance at the crossroad / Jae-young Son -- 10. Mortgage defaults and risk-based capital : post-global financial crisis development and implications to emerging markets / Tyler T. Yang and Jessie Y. Zhang -- 11. Housing and macro-economy for Korean case : the role of housing loan to value (LTV) / Inho Song -- 12. Rental housing system and housing market volatility : monthly-rent based vs. asset-based systems / Kyung-Hwan Kim, Chang-Moo Lee and Young-Man Lee -- 13. Dealing with real estate booms / Giovanni Dell'Ariccia and Deniz Igan
Beschreibung:VIII, 355 S. graph. Darst.
ISBN:9781783472871