Cargando…

Fundamental Drivers of House Prices in Advanced Economies.

House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there i...

Descripción completa

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Geng, Nan
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, 2018.
Colección:IMF Working Papers; Working Paper ; no. 18/164.
Temas:
Acceso en línea:Texto completo
Descripción
Sumario:House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.
Descripción Física:1 online resource (25 pages)
ISBN:1484369106
1484367626
9781484367629
9781484369104