Real estate indicators and financial stability
The papers in this volume were presented at a joint conference on Real Estate Indicators and Financial Stability organised by the International Monetary Fund and the Bank for International Settlements in Washington, D.C., on 27-28 October 2003. The purpose of this conference was to discuss and explore the theoretical as well as the practical issues underlying the development and use of real estate indicators in assessing financial stability. A key aspect of the current attention on financial stability is the collection of information to assess the strengths and risks of financial systems using statistical indicators collectively known as Financial Soundness Indicators (FSIs). Real estate prices are part of these indicators. However there has been less emphasis on the identification and use of appropriate statistical information relating to real estate markets. It is hoped that this volume will go some way in addressing these gaps and stimulate further discussion in this area. The papers in the volume are grouped into broad thematic areas as they were discussed in the conference: review of the impact of real estate on monetary and financial stability, usefulness of available statistics, country experiences in the compilation of real estate price indices, methodological issues on residential and commercial real estate prices, hedonic real estate price indices, aggregation issues, valuation of real estate in special situations, and areas of future work. The volume also contains a summary of the discussion that took place at the conference on possible future areas for work. Transcripts of the discussions during the individual sessions of the conference are available upon request.
|This book is provided by Bank for International Settlements in its series BIS Papers with number 21 and published in 2005.|
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- Genesove, David & Mayer, Christopher, 2001.
"Loss Aversion and Seller Behaviour: Evidence from the Housing Market,"
CEPR Discussion Papers
2813, C.E.P.R. Discussion Papers.
- David Genesove & Christopher Mayer, 2001. "Loss Aversion And Seller Behavior: Evidence From The Housing Market," The Quarterly Journal of Economics, MIT Press, vol. 116(4), pages 1233-1260, November.
- David Genesove & Christopher Mayer, . "Loss Aversion and Seller Behavior: Evidence from the Housing Market," Zell/Lurie Center Working Papers 323, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
- David Genesove & Christopher Mayer, 2001. "Loss Aversion and Seller Behavior: Evidence from the Housing Market," NBER Working Papers 8143, National Bureau of Economic Research, Inc.
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