House Price Determinants in Selected Countries of the Former Soviet Union
AbstractThis paper analyses the recent boom-bust cycle in the housing markets of selected Former Soviet Union (FSU) countries. The analysis is based on a newly constructed database on house prices in the FSU countries. Our estimations suggest that house price developments can largely be explained by the dynamics of fundamentals, such as GDP, remittances, and external financing. Overall, we find that deviations of house prices from their fundamentals have not been pronounced, suggesting that house price bubbles have not been formed in the FSU countries.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/104.
Date of creation: 01 Apr 2010
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-29 (All new papers)
- NEP-CIS-2010-05-29 (Confederation of Independent States)
- NEP-TRA-2010-05-29 (Transition Economics)
- NEP-URE-2010-05-29 (Urban & Real Estate Economics)
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