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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Bibliographic Details
Main Author: Tamirisa, Natalia
Other Authors: Igan, Deniz, Kabundi, Alain, Nadal De Simone, Francisco
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2009.
Series:IMF Working Papers; Working Paper ; No. 2009/231
Online Access:Full text available on IMF