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Conference on Housing, Stability, and the Macroeconomy: International Perspectives

Author

Listed:
  • RABAH AREZKI
  • THORSTEN BECK
  • ROBERT DEYOUNG
  • JOHN V. DUCA
  • PRAKASH LOUNGANI
  • ANTHONY MURPHY

Abstract

This article provides an introduction to the JMCB special issue on housing bubbles, the global financial crisis, and the ensuing recessions in countries that experienced housing busts. We focus on five themes that are important for policymakers and researchers alike: the domestic and international factors driving housing booms and busts, the relevance of the housing sector for the real economy, how monetary policy should react to housing booms and busts, how housing and mortgage finance reform could affect financial stability, and the broad lessons learned for macroeconomics and macroprudential policy.

Suggested Citation

  • Rabah Arezki & Thorsten Beck & Robert Deyoung & John V. Duca & Prakash Loungani & Anthony Murphy, 2015. "Conference on Housing, Stability, and the Macroeconomy: International Perspectives," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 1-11, March.
    • Handle: RePEc:wly:jmoncb:v:47:y:2015:i:s1:p:1-11
    DOI: 10.1111/jmcb.12185
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    References listed on IDEAS

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    1. Yavuz Arslan & Bulent Guler & Temel Taskin, 2015. "Joint Dynamics of House Prices and Foreclosures," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 133-169, March.
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    5. John Muellbauer, 2015. "Housing and the Macroeconomy: Inflation and the Financial Accelerator," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 51-58, March.
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    7. Dwight M. Jaffee, 2015. "An International Perspective for Mortgage Market Reform," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 59-67, March.
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    9. David C. Ling & Joseph T.L. Ooi & Thao T.T. Le, 2015. "Explaining House Price Dynamics: Isolating the Role of Nonfundamentals," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 87-125, March.
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    17. Edward E. Leamer, 2015. "Housing Really Is the Business Cycle: What Survives the Lessons of 2008–09?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 43-50, March.
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    20. Susan Wachter, 2015. "The Housing and Credit Bubbles in the United States and Europe: A Comparison," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 37-42, March.
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    Cited by:

    1. Vítor Martins & Alessandro Turrini & Bořek Vašíček & Madalina Zamfir, 2021. "Euro Area Housing Markets: Trends, Challenges and Policy Responses," European Economy - Discussion Papers 147, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

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