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Asset Price Spillover, Collateral and Crises: with an Application to Property Market Policy

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  • Nan-Kuang Chen

    ()

  • Charles Leung

    ()

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Bibliographic Info

Article provided by Springer in its journal The Journal of Real Estate Finance and Economics.

Volume (Year): 37 (2008)
Issue (Month): 4 (November)
Pages: 351-385

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Handle: RePEc:kap:jrefec:v:37:y:2008:i:4:p:351-385

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Web page: http://www.springerlink.com/link.asp?id=102945

Related research

Keywords: Asset prices; Crisis; Property market policy; Real estate markets; Spillover; E44; G30; R20;

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  22. Charles Ka Yui Leung & Nan-Kuang Chen, 2005. "Intrinsic Cycles of Land Price: A Simple Model," Discussion Papers, Chinese University of Hong Kong, Department of Economics 00005, Chinese University of Hong Kong, Department of Economics.
  23. Tse, Chung Yi & Leung, Charles Ka Yui, 2002. "Increasing Wealth and Increasing Instability: The Role of Collateral," Review of International Economics, Wiley Blackwell, vol. 10(1), pages 45-52, February.
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  29. Sunny Kai-Sun, Kwong & Charles Ka-Yui Leung, 1999. "Price Volatility of Commercial and Residential Property," Departmental Working Papers _114, Chinese University of Hong Kong, Department of Economics.
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  35. Ben-Shahar, Danny & Feldman, David, 2003. "Signaling-Screening Equilibrium in the Mortgage Market," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 26(2-3), pages 157-78, March-May.
  36. Nathan S. Balke & Stephen P. A. Brown & Mine Yücel, 1999. "Oil price shocks and the U.S. economy: where does the asymmetry originate?," Working Papers 9911, Federal Reserve Bank of Dallas.
  37. Fran�ois Ortalo-Magné & Sven Rady, 2006. "Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints ," Review of Economic Studies, Oxford University Press, vol. 73(2), pages 459-485.
  38. Richard K. Green, 1996. "Follow the Leader: How Changes In Residential and Non-Residential Investment Predict Changes in GDP," Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research 96-05, University of Wisconsin Center for Urban Land Economic Research.
  39. Yui Leung, Charles Ka & Quigley, John M., 2007. "Special issue on macroeconomics, regulation, and housing introduction," Journal of Housing Economics, Elsevier, Elsevier, vol. 16(2), pages 99-101, June.
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  41. Chen, Nan-Kuang, 2001. "Bank net worth, asset prices and economic activity," Journal of Monetary Economics, Elsevier, Elsevier, vol. 48(2), pages 415-436, October.
  42. Hsiao-Lei Chu & Nan-Kuang Chen, 2003. "Optimality of Investment under Imperfectly Enforceable Financial Contracts," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 41(2), pages 318-324, April.
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  46. Chen, Nan-Kuang & Chu, Hsiao-Lei & Liu, Jin-Tan & Wang, Kuang-Hsien, 2006. "Collateral value, firm borrowing, and forbearance lending: an empirical study of Taiwan," Japan and the World Economy, Elsevier, Elsevier, vol. 18(1), pages 49-71, January.
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Citations

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Cited by:
  1. LEUNG, K. Y. Charles & TANG, C. H. Edward, 2011. "Comparing two financial crises: the case of Hong Kong real estate markets," MPRA Paper 31562, University Library of Munich, Germany.
  2. Yi Jin & Charles K.Y. Leung & Zhixiong Zeng, 2012. "Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 40(1), pages 167-195, 03.
  3. Charles Ka Yui Leung, 2005. "Equilibrium Correlation of Asset Price and Return," Discussion Papers, Chinese University of Hong Kong, Department of Economics 00017, Chinese University of Hong Kong, Department of Economics.
  4. Leung, Charles Ka Yui & Zhang, Jun, 2011. "“Fire Sales” in housing market: is the house-searching process similar to a theme park visit?," MPRA Paper 29127, University Library of Munich, Germany.
  5. Leung, Charles Ka Yui & Tang, Edward Chi Ho, 2013. "Speculating China economic growth through Hong Kong? Evidence from the stock market IPO and real estate markets," MPRA Paper 46346, University Library of Munich, Germany.
  6. Leung, Charles Ka Yui, 2014. "Error correction dynamics of house prices: an equilibrium benchmark," Globalization and Monetary Policy Institute Working Paper 177, Federal Reserve Bank of Dallas.
  7. Balasubramanyan, Lakshmi & Coulson, Edward, 2013. "Do house prices impact business starts?," Journal of Housing Economics, Elsevier, Elsevier, vol. 22(1), pages 36-44.
  8. Nan-Kuang Chen & Yu-Hsi Chou & Jyh-Lin Wu, 2013. "Credit Constraint and the Asymmetric Monetary Policy Effect on House Prices," Pacific Economic Review, Wiley Blackwell, vol. 18(4), pages 431-455, October.
  9. Chang, Kuang Liang & Chen, Nan Kuang & Leung, Charles Ka Yui, 2011. "The Dynamics of Housing Returns in Singapore: How Important are the International Transmission Mechanisms?," MPRA Paper 32255, University Library of Munich, Germany.
  10. Lichao Cheng & Yi Jin & Zhixiong Zeng, 2011. "Asset Prices, Monetary Policy, and Aggregate Fluctuations: An Empirical Investigation," Monash Economics Working Papers 13-11, Monash University, Department of Economics.
  11. Kuang-Liang Chang & Nan-Kuang Chen & Charles Ka Yui Leung, 2012. "In the shadow of the United States: the international transmission effect of asset returns," Globalization and Monetary Policy Institute Working Paper 121, Federal Reserve Bank of Dallas.
  12. Eli Beracha & Hilla Skiba, 2013. "Findings from a Cross-Sectional Housing Risk-Factor Model," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 47(2), pages 289-309, August.
  13. Charles Ka Yui Leung & Jun Zhang, 2011. "¡§Fire Sales¡¨ in Housing Market: Is the House- Search Process Similar to a Theme Park Visit?," International Real Estate Review, Asian Real Estate Society, vol. 14(3), pages 311-329.

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