Recurring patterns in the run-up to house price busts
AbstractWe present evidence that shows that large increases in credit and residential investment shares, along with deteriorating current account balances, provide useful leading indicators of house price busts. These variables also explain cross-sectional patterns in the build-up to the 2007 crisis. Interestingly, movements in output and inflation have little ability to predict house price busts.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 18 (2011)
Issue (Month): 2 ()
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- Peter Tillmann, 2012. "Capital Inflows and Asset Prices: Evidence from Emerging Asia," MAGKS Papers on Economics 201215, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
- repec:ner:leuven:urn:hdl:123456789/120539 is not listed on IDEAS
- Karolien De Bruyne & Jan Van Hove, 2013. "Explaining the spatial variation in housing prices: an economic geography approach," Applied Economics, Taylor & Francis Journals, vol. 45(13), pages 1673-1689, May.
- Tillmann, Peter, 2013. "Capital inflows and asset prices: Evidence from emerging Asia," Journal of Banking & Finance, Elsevier, vol. 37(3), pages 717-729.
- repec:ner:leuven:urn:hdl:123456789/329755 is not listed on IDEAS
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