Global house price fluctuations: synchronization and determinants
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.]
International Monetary Fund
[2013]
|
| Schriftenreihe: | IMF working paper
WP/13/38 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 TUM01 UER01 BSB01 SBG01 Volltext |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed Feb. 11, 2013). - "Research Department.". - "February 2013"--p. 2 of pdf "We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these questions, we first estimate the global components in house prices and various macroeconomic and financial variables. We then evaluate the roles played by a variety of global shocks, including shocks to interest rates, monetary policy, productivity, credit, and uncertainty, in explaining house price fluctuations using a wide range of FAVAR models. We find that house prices are synchronized across countries, and the degree of synchronization has increased over time. Global interest rate shocks tend to have a significant negative effect on global house prices whereas global monetary policy shocks per se do not appear to have a sizeable impact. Interestingly, uncertainty shocks seem to be important in explaining fluctuations in global house prices"--Abstract Includes bibliographical references (p. 24-27) |
| Beschreibung: | 1 Online-Ressource (47 p.) |
| ISBN: | 9781475552072 1475552076 9781475523621 1475591608 9781475591606 |
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| id | DE-604.BV042969732 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:14:05Z |
| institution | BVB |
| isbn | 9781475552072 1475552076 9781475523621 1475591608 9781475591606 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-028395599 |
| oclc_num | 827241722 |
| open_access_boolean | |
| owner | DE-29 DE-12 DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-91 DE-BY-TUM DE-22 DE-BY-UBG |
| owner_facet | DE-29 DE-12 DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-91 DE-BY-TUM DE-22 DE-BY-UBG |
| physical | 1 Online-Ressource (47 p.) |
| psigel | ZDB-4-EBU ZDB-1-IMF FLA_PDA_EBU |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF working paper |
| spelling | Global house price fluctuations synchronization and determinants Hideaki Hirata ... [et al.] [Washington, D.C.] International Monetary Fund [2013] 1 Online-Ressource (47 p.) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/13/38 Title from PDF title page (IMF Web site, viewed Feb. 11, 2013). - "Research Department.". - "February 2013"--p. 2 of pdf "We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these questions, we first estimate the global components in house prices and various macroeconomic and financial variables. We then evaluate the roles played by a variety of global shocks, including shocks to interest rates, monetary policy, productivity, credit, and uncertainty, in explaining house price fluctuations using a wide range of FAVAR models. We find that house prices are synchronized across countries, and the degree of synchronization has increased over time. Global interest rate shocks tend to have a significant negative effect on global house prices whereas global monetary policy shocks per se do not appear to have a sizeable impact. Interestingly, uncertainty shocks seem to be important in explaining fluctuations in global house prices"--Abstract Includes bibliographical references (p. 24-27) BUSINESS & ECONOMICS / Real Estate / General bisacsh Business cycles fast Housing / Prices fast Statistik Wirtschaft Housing Prices Housing Prices Statistics Business cycles Hirata, Hideaki Sonstige oth International Monetary Fund Research Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=548056 Aggregator Volltext |
| spellingShingle | Global house price fluctuations synchronization and determinants BUSINESS & ECONOMICS / Real Estate / General bisacsh Business cycles fast Housing / Prices fast Statistik Wirtschaft Housing Prices Housing Prices Statistics Business cycles |
| title | Global house price fluctuations synchronization and determinants |
| title_auth | Global house price fluctuations synchronization and determinants |
| title_exact_search | Global house price fluctuations synchronization and determinants |
| title_full | Global house price fluctuations synchronization and determinants Hideaki Hirata ... [et al.] |
| title_fullStr | Global house price fluctuations synchronization and determinants Hideaki Hirata ... [et al.] |
| title_full_unstemmed | Global house price fluctuations synchronization and determinants Hideaki Hirata ... [et al.] |
| title_short | Global house price fluctuations |
| title_sort | global house price fluctuations synchronization and determinants |
| title_sub | synchronization and determinants |
| topic | BUSINESS & ECONOMICS / Real Estate / General bisacsh Business cycles fast Housing / Prices fast Statistik Wirtschaft Housing Prices Housing Prices Statistics Business cycles |
| topic_facet | BUSINESS & ECONOMICS / Real Estate / General Business cycles Housing / Prices Statistik Wirtschaft Housing Prices Housing Prices Statistics |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=548056 |
| work_keys_str_mv | AT hiratahideaki globalhousepricefluctuationssynchronizationanddeterminants AT internationalmonetaryfundresearchdepartment globalhousepricefluctuationssynchronizationanddeterminants |