Skip to search
Skip to main content
Search in
Keyword
Title (keyword)
Author (keyword)
Subject (keyword)
Title starts with
Subject (browse)
Author (browse)
Author (sorted by title)
Call number (browse)
search for
Search
Advanced Search
Bookmarks
(
0
)
Princeton University Library Catalog
Start over
Cite
Send
to
SMS
Email
EndNote
RefWorks
RIS
Printer
Bookmark
Global House Price Fluctuations : synchronization and determinants / Hideaki Hirata.
Author
Hirata, Hideaki
[Browse]
Format
Book
Language
English
Published/Created
Cambridge, MA : National Bureau of Economic Research, 2012.
Description
1 online resource (25, 18 unnumbered pages) : illustrations.
Details
Subject(s)
Housing
—
Prices
[Browse]
Business cycles
[Browse]
Housing policy
[Browse]
Series
Working paper series (National Bureau of Economic Research) ; Number 18362.
[More in this series]
Summary note
We examine the properties of house price fluctuations across eighteen advanced economies over the past forty 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.
Source of description
Description based on publisher supplied metadata and other sources.
Statement on responsible collection description
Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage.
Read more...
Other views
Staff view
Ask a Question
Suggest a Correction
Supplementary Information