House Price Synchronicity, Banking Integration, and Global Financial Conditions /

We examine the relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades. The role played by cross-border banking flows in residential property markets is examined as well. Looser global financial conditions are...

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מחבר ראשי: Alter, Adrian
מחברים אחרים: Dokko, Jane, Seneviratne, Dulani
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2018.
סדרה:IMF Working Papers; Working Paper ; No. 2018/250
גישה מקוונת:Full text available on IMF
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100 1 |a Alter, Adrian. 
245 1 0 |a House Price Synchronicity, Banking Integration, and Global Financial Conditions /  |c Adrian Alter, Jane Dokko, Dulani Seneviratne. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2018. 
300 |a 1 online resource (42 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 relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades. The role played by cross-border banking flows in residential property markets is examined as well. Looser global financial conditions are associated with greater house price synchronicity, even after controlling for bilateral financial integration. Moreover, we find that synchronicity across major cities may differ from that of their respective countries', perhaps due to the influence of global investors on local house price dynamics. Policy choices such as macroprudential tools and exchange rate flexibility appear to be relevant for mitigating the sensitivity of domestic housing markets to the rest of the world. 
538 |a Mode of access: Internet 
700 1 |a Dokko, Jane. 
700 1 |a Seneviratne, Dulani. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2018/250 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2018/250/001.2018.issue-250-en.xml  |z IMF e-Library