Monetary Policy, Housing Investment, and Heterogenous Regional Markets
Author: Michael Fratantoni
Publisher:
Published: 2000
Total Pages: 60
ISBN-13:
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Hot Property
Author: Rob Nijskens
Publisher: Springer
Published: 2019-06-14
Total Pages: 220
ISBN-13: 3030116743
DOWNLOAD EBOOKThis open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.
The Housing Boom and Bust
Author: Thomas Sowell
Publisher: Basic Books (AZ)
Published: 2009-05-12
Total Pages: 194
ISBN-13: 0465018807
DOWNLOAD EBOOKExplains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Monetary Policy Transmission in Emerging Markets and Developing Economies
Author: Mr.Luis Brandao-Marques
Publisher: International Monetary Fund
Published: 2020-02-21
Total Pages: 54
ISBN-13: 1513529730
DOWNLOAD EBOOKCentral banks in emerging and developing economies (EMDEs) have been modernizing their monetary policy frameworks, often moving toward inflation targeting (IT). However, questions regarding the strength of monetary policy transmission from interest rates to inflation and output have often stalled progress. We conduct a novel empirical analysis using Jordà’s (2005) approach for 40 EMDEs to shed a light on monetary transmission in these countries. We find that interest rate hikes reduce output growth and inflation, once we explicitly account for the behavior of the exchange rate. Having a modern monetary policy framework—adopting IT and independent and transparent central banks—matters more for monetary transmission than financial development.
Handbook of Economic Forecasting
Author: Graham Elliott
Publisher: Newnes
Published: 2013-08-23
Total Pages: 719
ISBN-13: 0444536841
DOWNLOAD EBOOKThe highly prized ability to make financial plans with some certainty about the future comes from the core fields of economics. In recent years the availability of more data, analytical tools of greater precision, and ex post studies of business decisions have increased demand for information about economic forecasting. Volumes 2A and 2B, which follows Nobel laureate Clive Granger's Volume 1 (2006), concentrate on two major subjects. Volume 2A covers innovations in methodologies, specifically macroforecasting and forecasting financial variables. Volume 2B investigates commercial applications, with sections on forecasters' objectives and methodologies. Experts provide surveys of a large range of literature scattered across applied and theoretical statistics journals as well as econometrics and empirical economics journals. The Handbook of Economic Forecasting Volumes 2A and 2B provide a unique compilation of chapters giving a coherent overview of forecasting theory and applications in one place and with up-to-date accounts of all major conceptual issues. - Focuses on innovation in economic forecasting via industry applications - Presents coherent summaries of subjects in economic forecasting that stretch from methodologies to applications - Makes details about economic forecasting accessible to scholars in fields outside economics
Innocent Bystanders? Monetary Policy and Inequality in the U.S.
Author: Mr.Olivier Coibion
Publisher: International Monetary Fund
Published: 2012-08-01
Total Pages: 57
ISBN-13: 1475505493
DOWNLOAD EBOOKWe study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.
Proceedings of the 19th International Symposium on Advancement of Construction Management and Real Estate
Author: Liyin Shen
Publisher: Springer
Published: 2015-04-27
Total Pages: 1221
ISBN-13: 3662469944
DOWNLOAD EBOOKThese conference proceedings cover an outstanding view for academics and professionals to share research findings on the latest developments in real estate and construction management. The Chinese Research Institute of Construction Management (CRIOCM) in collaboration with Chongqing University organized CRIOCM2014, the 19th International Symposium on “Advancement of Construction Management and Real Estate.” The proceedings collect 105 selected papers addressing the following key themes: Sustainable Urbanization, Sustainable Construction, Urban Construction and Management, Affordable Housing, Urban Land Development and Utilization, Management for Large Infrastructure Projects, Green Construction Materials and Construction Waste Management, Development and Management for Mountainous Towns, Advancement of Construction Project Management, Redevelopment in Disaster Areas, Law and Policies for Construction and Real Estate, Information Technology for Construction Management and Real Estate and lastly Other Topics.
Macroprudential Policies and Housing Price
Author: Mr.Jerome Vandenbussche
Publisher: International Monetary Fund
Published: 2012-12-27
Total Pages: 36
ISBN-13: 1475550138
DOWNLOAD EBOOKSeveral countries in Central, Eastern and Southeastern Europe used a rich set of prudential instruments in response to last decade’s credit and housing boom and bust cycles. We collect detailed information on these policy measures in a comprehensive database covering 16 countries at a quarterly frequency. We use this database to investigate whether the policy measures had an impact on housing price inflation. Our evidence suggests that some—but not all—measures did have an impact. These measures were changes in the minimum CAR and non-standard liquidity measures (marginal reserve requirements on foreign funding, marginal reserve requirements linked to credit growth).
Markups, Gaps, and the Welfare Costs of Business Fluctuations
Author: Jordi Galí
Publisher:
Published: 2002
Total Pages: 52
ISBN-13:
DOWNLOAD EBOOKIn this paper we present a simple, theory-based measure of the variations in aggregate economic efficiency associated with business fluctuations. We decompose this indicator, which we refer to as 'the gap', into two constituent parts: a price markup and a wage markup, and show that the latter accounts for the bulk of the fluctuations in our gap measure. Finally, we derive a measure of the welfare costs of business cycles that is directly related to our gap variable, and which takes into account explicitly the existence of a varying aggregate inefficiency. When applied to postwar U.S. data, for plausible parametrizations, our measure suggests welfare losses of fluctuations that are of a higher order of magnitude than those derived by Lucas (1987). It also suggests that the major postwar recessions involved substantial efficiency costs.
