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|c 5.00 USD
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|z 9781513525839
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Deghi, Andrea.
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|a Predicting Downside Risks to House Prices and Macro-Financial Stability /
|c Andrea Deghi, Mitsuru Katagiri, Sohaib Shahid, Nico Valckx.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2020.
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| 300 |
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|a 1 online resource (47 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper predicts downside risks to future real house price growth (house-prices-at-risk or HaR) in 32 advanced and emerging market economies. Through a macro-model and predictive quantile regressions, we show that current house price overvaluation, excessive credit growth, and tighter financial conditions jointly forecast higher house-prices-at-risk up to three years ahead. House-prices-at-risk help predict future growth at-risk and financial crises. We also investigate and propose policy solutions for preventing the identified risks. We find that overall, a tightening of macroprudential policy is the most effective at curbing downside risks to house prices, whereas a loosening of conventional monetary policy reduces downside risks only in advanced economies and only in the short-term.
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|a Mode of access: Internet
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|a Katagiri, Mitsuru.
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|a Shahid, Sohaib.
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|a Valckx, Nico.
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|a IMF Working Papers; Working Paper ;
|v No. 2020/011
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2020/011/001.2020.issue-011-en.xml
|z IMF e-Library
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