Housing Finance and Real-Estate Booms: A Cross-Country Perspective

Eugenio Cerutti, Jihad Dagher and Giovanni Dell'ariccia

No 2015/012, IMF Staff Discussion Notes from International Monetary Fund

Abstract: The recent global crisis highlighted the risks stemming from real estate booms. This has generated a growing literature trying to better understand the sources and the risks associated with housing and credit booms. This paper complements and supplements the previous work by (i) exploiting more disaggregated data on credit allowing us to dissociate between firm-credit and household (and in some cases mortgage) credit, and (ii) by taking into account the characteristics of the mortgage market, including institutional as well as other factors that vary across countries. This detailed cross-country analysis offers new valuable insights.

Keywords: SDN; credit boom; boom; mortgage market; mortgage; Housing finance; real estate; macroprudential regulation; financial stability; credit booms; real-estate boom; housing finance characteristic; boom episode; house price; Housing prices; Mortgages; Housing; Credit; Global (search for similar items in EconPapers)
Pages: 35
Date: 2015-06-03
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Citations: View citations in EconPapers (37)

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Related works:
Journal Article: Housing finance and real-estate booms: A cross-country perspective (2017)
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