Global housing cycles /:
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empi...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Körperschaft: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Place of publication not identified] :
International Monetary Fund,
2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/217. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections. |
| Beschreibung: | 1 online resource : illustrations |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1475528094 9781475528091 1475505671 9781475505672 1475518250 9781475518252 1475566794 9781475566796 |
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| 520 | |a Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections. | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Data; III. Empirical Analysis; A. Housing Cycles; B. Macroeconomic Consequences; IV. Conclusion; References; Tables; 1. House Price Cycles by Country; 2. Characteristics of House Price Cycles; 3. Price-to-Rent Ratio: Adjustment to Benchmark; 4. Modeling House Price Changes: Country-by-Country Regressions; 5. Modeling House Price Changes: Pooled Regressions; 6. Misalignment in House Prices: A Heat Map; 7. Macroeconomic Impact of House Price Corrections; 8. Macroeconomic Impact of House Price Corrections and Country Characteristics; Figures. | |
| 505 | 8 | |a 1. An Unprecedented Global Housing Boom2. A Global Housing Boom Turning into a Global Bust; 3. Measuring House Prices: Differences in U.S. Indices; 4. National versus Sub-national Prices: Selected Indices in the U.K.; 5. Housing Markets: Price versus Quantity; 6. Regional Housing Markets: Prices versus Activity; 7. Global Housing Cycles: Concurrence of Local Markets; 8. Global Booms and Busts; 9. House Prices and Residential Investment; 10. Price-to-Income Ratio by Country; 11. Housing Affordability in the U.S.; 12. Housing Affordability in the U.S.: Now and Then. | |
| 505 | 8 | |a 13. Price-to-Rent Ratio Adjustment in the U.S14. User Cost of Housing in the U.S.; 15. Back to Earth: Predicted and Actual House Price Changes; Appendix. | |
| 546 | |a English. | ||
| 650 | 0 | |a Housing |x Prices. |0 http://id.loc.gov/authorities/subjects/sh97001763 | |
| 650 | 0 | |a Business cycles. | |
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| 650 | 6 | |a Cycles économiques. | |
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| 710 | 2 | |a International Monetary Fund. |b Research Department. |0 http://id.loc.gov/authorities/names/n77001219 | |
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| _version_ | 1816796917578858496 |
| adam_text | |
| any_adam_object | |
| author | Igan, Deniz Loungani, Prakash |
| author_GND | http://id.loc.gov/authorities/names/no2006076631 http://id.loc.gov/authorities/names/n92021651 |
| author_corporate | International Monetary Fund. Research Department |
| author_corporate_role | |
| author_facet | Igan, Deniz Loungani, Prakash International Monetary Fund. Research Department |
| author_role | aut aut |
| author_sort | Igan, Deniz |
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| bvnumber | localFWS |
| callnumber-first | H - Social Science |
| callnumber-label | HD7287 |
| callnumber-raw | HD7287 |
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| collection | ZDB-4-EBU |
| contents | Cover; Contents; I. Introduction; II. Data; III. Empirical Analysis; A. Housing Cycles; B. Macroeconomic Consequences; IV. Conclusion; References; Tables; 1. House Price Cycles by Country; 2. Characteristics of House Price Cycles; 3. Price-to-Rent Ratio: Adjustment to Benchmark; 4. Modeling House Price Changes: Country-by-Country Regressions; 5. Modeling House Price Changes: Pooled Regressions; 6. Misalignment in House Prices: A Heat Map; 7. Macroeconomic Impact of House Price Corrections; 8. Macroeconomic Impact of House Price Corrections and Country Characteristics; Figures. 1. An Unprecedented Global Housing Boom2. A Global Housing Boom Turning into a Global Bust; 3. Measuring House Prices: Differences in U.S. Indices; 4. National versus Sub-national Prices: Selected Indices in the U.K.; 5. Housing Markets: Price versus Quantity; 6. Regional Housing Markets: Prices versus Activity; 7. Global Housing Cycles: Concurrence of Local Markets; 8. Global Booms and Busts; 9. House Prices and Residential Investment; 10. Price-to-Income Ratio by Country; 11. Housing Affordability in the U.S.; 12. Housing Affordability in the U.S.: Now and Then. 13. Price-to-Rent Ratio Adjustment in the U.S14. User Cost of Housing in the U.S.; 15. Back to Earth: Predicted and Actual House Price Changes; Appendix. |
| ctrlnum | (OCoLC)903698753 |
| dewey-full | 363.5 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 363 - Other social problems and services |
| dewey-raw | 363.5 |
| dewey-search | 363.5 |
| dewey-sort | 3363.5 |
| dewey-tens | 360 - Social problems and services; associations |
| discipline | Soziologie |
| format | Electronic eBook |
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attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections.</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">Cover; Contents; I. Introduction; II. Data; III. Empirical Analysis; A. Housing Cycles; B. Macroeconomic Consequences; IV. Conclusion; References; Tables; 1. House Price Cycles by Country; 2. Characteristics of House Price Cycles; 3. Price-to-Rent Ratio: Adjustment to Benchmark; 4. Modeling House Price Changes: Country-by-Country Regressions; 5. Modeling House Price Changes: Pooled Regressions; 6. Misalignment in House Prices: A Heat Map; 7. Macroeconomic Impact of House Price Corrections; 8. Macroeconomic Impact of House Price Corrections and Country Characteristics; Figures.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">1. An Unprecedented Global Housing Boom2. A Global Housing Boom Turning into a Global Bust; 3. Measuring House Prices: Differences in U.S. Indices; 4. National versus Sub-national Prices: Selected Indices in the U.K.; 5. Housing Markets: Price versus Quantity; 6. Regional Housing Markets: Prices versus Activity; 7. Global Housing Cycles: Concurrence of Local Markets; 8. Global Booms and Busts; 9. House Prices and Residential Investment; 10. Price-to-Income Ratio by Country; 11. Housing Affordability in the U.S.; 12. Housing Affordability in the U.S.: Now and Then.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">13. Price-to-Rent Ratio Adjustment in the U.S14. User Cost of Housing in the U.S.; 15. 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| id | ZDB-4-EBU-ocn903698753 |
| illustrated | Illustrated |
| indexdate | 2024-11-26T14:49:18Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/n77001219 |
| isbn | 1475528094 9781475528091 1475505671 9781475505672 1475518250 9781475518252 1475566794 9781475566796 |
| language | English |
| oclc_num | 903698753 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource : illustrations |
| psigel | ZDB-4-EBU |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Igan, Deniz, author. http://id.loc.gov/authorities/names/no2006076631 Global housing cycles / [prepared by] Deniz Igan and Prakash Loungani. [Place of publication not identified] : International Monetary Fund, 2012. 1 online resource : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file IMF working paper ; WP/12/217 Includes bibliographical references. Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections. Cover; Contents; I. Introduction; II. Data; III. Empirical Analysis; A. Housing Cycles; B. Macroeconomic Consequences; IV. Conclusion; References; Tables; 1. House Price Cycles by Country; 2. Characteristics of House Price Cycles; 3. Price-to-Rent Ratio: Adjustment to Benchmark; 4. Modeling House Price Changes: Country-by-Country Regressions; 5. Modeling House Price Changes: Pooled Regressions; 6. Misalignment in House Prices: A Heat Map; 7. Macroeconomic Impact of House Price Corrections; 8. Macroeconomic Impact of House Price Corrections and Country Characteristics; Figures. 1. An Unprecedented Global Housing Boom2. A Global Housing Boom Turning into a Global Bust; 3. Measuring House Prices: Differences in U.S. Indices; 4. National versus Sub-national Prices: Selected Indices in the U.K.; 5. Housing Markets: Price versus Quantity; 6. Regional Housing Markets: Prices versus Activity; 7. Global Housing Cycles: Concurrence of Local Markets; 8. Global Booms and Busts; 9. House Prices and Residential Investment; 10. Price-to-Income Ratio by Country; 11. Housing Affordability in the U.S.; 12. Housing Affordability in the U.S.: Now and Then. 13. Price-to-Rent Ratio Adjustment in the U.S14. User Cost of Housing in the U.S.; 15. Back to Earth: Predicted and Actual House Price Changes; Appendix. English. Housing Prices. http://id.loc.gov/authorities/subjects/sh97001763 Business cycles. Logement Prix. Cycles économiques. BUSINESS & ECONOMICS Infrastructure. bisacsh SOCIAL SCIENCE General. bisacsh Business cycles fast Housing Prices fast Loungani, Prakash, author. http://id.loc.gov/authorities/names/n92021651 International Monetary Fund. Research Department. http://id.loc.gov/authorities/names/n77001219 has work: Global housing cycles (Text) https://id.oclc.org/worldcat/entity/E39PCG4pQXRgGgYMj3cgr6XKV3 https://id.oclc.org/worldcat/ontology/hasWork 1-4755-2809-4 1-4755-0567-1 IMF working paper ; WP/12/217. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568157 Volltext |
| spellingShingle | Igan, Deniz Loungani, Prakash Global housing cycles / IMF working paper ; Cover; Contents; I. Introduction; II. Data; III. Empirical Analysis; A. Housing Cycles; B. Macroeconomic Consequences; IV. Conclusion; References; Tables; 1. House Price Cycles by Country; 2. Characteristics of House Price Cycles; 3. Price-to-Rent Ratio: Adjustment to Benchmark; 4. Modeling House Price Changes: Country-by-Country Regressions; 5. Modeling House Price Changes: Pooled Regressions; 6. Misalignment in House Prices: A Heat Map; 7. Macroeconomic Impact of House Price Corrections; 8. Macroeconomic Impact of House Price Corrections and Country Characteristics; Figures. 1. An Unprecedented Global Housing Boom2. A Global Housing Boom Turning into a Global Bust; 3. Measuring House Prices: Differences in U.S. Indices; 4. National versus Sub-national Prices: Selected Indices in the U.K.; 5. Housing Markets: Price versus Quantity; 6. Regional Housing Markets: Prices versus Activity; 7. Global Housing Cycles: Concurrence of Local Markets; 8. Global Booms and Busts; 9. House Prices and Residential Investment; 10. Price-to-Income Ratio by Country; 11. Housing Affordability in the U.S.; 12. Housing Affordability in the U.S.: Now and Then. 13. Price-to-Rent Ratio Adjustment in the U.S14. User Cost of Housing in the U.S.; 15. Back to Earth: Predicted and Actual House Price Changes; Appendix. Housing Prices. http://id.loc.gov/authorities/subjects/sh97001763 Business cycles. Logement Prix. Cycles économiques. BUSINESS & ECONOMICS Infrastructure. bisacsh SOCIAL SCIENCE General. bisacsh Business cycles fast Housing Prices fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh97001763 |
| title | Global housing cycles / |
| title_auth | Global housing cycles / |
| title_exact_search | Global housing cycles / |
| title_full | Global housing cycles / [prepared by] Deniz Igan and Prakash Loungani. |
| title_fullStr | Global housing cycles / [prepared by] Deniz Igan and Prakash Loungani. |
| title_full_unstemmed | Global housing cycles / [prepared by] Deniz Igan and Prakash Loungani. |
| title_short | Global housing cycles / |
| title_sort | global housing cycles |
| topic | Housing Prices. http://id.loc.gov/authorities/subjects/sh97001763 Business cycles. Logement Prix. Cycles économiques. BUSINESS & ECONOMICS Infrastructure. bisacsh SOCIAL SCIENCE General. bisacsh Business cycles fast Housing Prices fast |
| topic_facet | Housing Prices. Business cycles. Logement Prix. Cycles économiques. BUSINESS & ECONOMICS Infrastructure. SOCIAL SCIENCE General. Business cycles Housing Prices |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568157 |
| work_keys_str_mv | AT igandeniz globalhousingcycles AT lounganiprakash globalhousingcycles AT internationalmonetaryfundresearchdepartment globalhousingcycles |