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Spotting excessive regional house price growth and what to do about it

Author

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  • Grégory Claeys
  • Konstantinos Efstathiou
  • Dirk Schoenmaker

Abstract

This paper is accompanied by an online annex Housing bubbles are a well-known source of financial instability. In addition, given the importance of this sector to the economy, the collapse of such bubbles tends to be followed by deeper recessions and slower recoveries than other crises, as the recent boom-bust housing cycles in many countries have clearly demonstrated. In the European Union, the policy instruments available to address this and to...

Suggested Citation

  • Grégory Claeys & Konstantinos Efstathiou & Dirk Schoenmaker, 2017. "Spotting excessive regional house price growth and what to do about it," Policy Contributions 22404, Bruegel.
    • Handle: RePEc:bre:polcon:22404
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    Cited by:

    1. Álvarez-Román, Laura & García-Posada, Miguel, 2021. "Are house prices overvalued in Spain? A regional approach," Economic Modelling, Elsevier, vol. 99(C).
    2. Michael Funke & Petar Mihaylovski & Adrian Wende, 2021. "Out of Sync Subnational Housing Markets and Macroprudential Policies in the UK," De Economist, Springer, vol. 169(4), pages 445-467, November.
    3. Gábor Márk Pellényi, 2019. "Regional Spillovers in the Hungarian Housing Market: Evidence from a Spatio-Temporal Model," European Economy - Discussion Papers 095, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.

    More about this item

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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