House prices and expectations

Caterina Mendicino

Research Bulletin, 2014, vol. 21, 12-15

Abstract: Households’ optimism about future house price appreciation is frequently suggested as a driver of house price increases. This article analyses the role that news and changes in expectations play in house price dynamics, as well as their implications for macro-prudential policy. JEL Classification: D84, E32, E44, G12

Keywords: asset pricing; excess volatility; credit booms; housing bubbles; monetary policy; macroprudential policy (search for similar items in EconPapers)
Date: 2014-05
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbrbu:2014:0021:3

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