Three Cycles : Housing, Credit, and Real Activity /

We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in the sh...

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Dettagli Bibliografici
Autore principale: Tamirisa, Natalia
Altri autori: Igan, Deniz, Kabundi, Alain, Nadal De Simone, Francisco
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2009.
Serie:IMF Working Papers; Working Paper ; No. 2009/231
Accesso online:Full text available on IMF
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100 1 |a Tamirisa, Natalia. 
245 1 0 |a Three Cycles :   |b Housing, Credit, and Real Activity /  |c Natalia Tamirisa, Alain Kabundi, Deniz Igan, Francisco Nadal De Simone. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2009. 
300 |a 1 online resource (32 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in the short to medium term the relationship varies across countries. Interest rates tend to lag other cycles at all time horizons. While global factors are important, the U.S. business cycle, house price cycle and interest rate cycle generally lead the respective cycles in other countries over all time horizons, while the U.S. credit cycle leads mainly over the long term. 
538 |a Mode of access: Internet 
700 1 |a Igan, Deniz. 
700 1 |a Kabundi, Alain. 
700 1 |a Nadal De Simone, Francisco. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2009/231 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2009/231/001.2009.issue-231-en.xml  |z IMF e-Library