Global House Price Fluctuations is popular PDF and ePub book, written by Mr.Hideaki Hirata in 2013-02-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Global House Price Fluctuations can be Read Online from any device for your convenience.
Global House Price Fluctuations Book PDF Summary
We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these questions, we first estimate the global components in house prices and various macroeconomic and financial variables. We then evaluate the roles played by a variety of global shocks, including shocks to interest rates, monetary policy, productivity, credit, and uncertainty, in explaining house price fluctuations using a wide range of FAVAR models. We find that house prices are synchronized across countries, and the degree of synchronization has increased over time. Global interest rate shocks tend to have a significant negative effect on global house prices whereas global monetary policy shocks per se do not appear to have a sizeable impact. Interestingly, uncertainty shocks seem to be important in explaining fluctuations in global house prices.
Detail Book of Global House Price Fluctuations PDF
- Author : Mr.Hideaki Hirata
- Release : 06 February 2013
- Publisher : International Monetary Fund
- ISBN : 9781475591606
- Genre : Business & Economics
- Total Page : 47 pages
- Language : English
- PDF File Size : 9,7 Mb
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