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Real estate market and financial stability in US metropolitan areas: A dynamic model with spatial effects

Francesco Moscone (), Elisa Tosetti and Alessandra Canepa ()

Regional Science and Urban Economics, 2014, vol. 49, issue C, 129-146

Abstract: This paper investigates spatio-temporal variations in ex-post credit risk in the United States, as a function of real estate prices, loan purchases made by government sponsored enterprises, and a set of local characteristics during the recent housing boom and bust.

Keywords: Non-performing loans; House prices; Dynamic panels; Spatial dependence; GMM estimator (search for similar items in EconPapers)
JEL-codes: C10 C31 C33 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1016/j.regsciurbeco.2014.08.003

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