Zur Finanzmarktkrise: Die Rolle der Immobilienbewertung
Finanzmarktkrisen entstehen häufig in Folge von Immobilienpreisblasen. In dieser Arbeit wird die Entstehung von Immobilienpreisblasen unter Berücksichtigung der spezifischen Eigenschaften von Immobilienmärkten sowie von Wechselwirkungen zwischen Immobilien- und Finanzmärkten untersucht und anhand der Finanzmarktkrisen in Japan Anfang der 1990er Jahre und in den USA in den letzten Jahren illustriert. Verschiedene Immobilienwertbegriffe und einfache Indikatoren zur frühzeitigen Erkennung von Immobilienpreisblasen sowie mögliche wirtschaftspolitische Schlussfolgerungen werden kritisch diskutiert.
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NBER Chapters,in: NBER Macroeconomics Annual 1999, Volume 14, pages 129-212
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- David Woo & Akihiro Kanaya, 2000. "The Japanese Banking Crisis of the 1990's; Sources and Lessons," IMF Working Papers 00/7, International Monetary Fund. Full references (including those not matched with items on IDEAS)
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