Global Liquidity, House Prices, and the Macroeconomy : Evidence from Advanced and Emerging Economies »
Journal Issue
Volume/Issue: 2015/23
Series: IMF Working Papers
Author(s): Ambrogio Cesa-Bianchi , Luis Felipe Cespedes , and Alessandro Rebucci
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 29 January 2015
DOI: http://dx.doi.org/10.5089/9781484346037.001
ISBN: 9781484346037
Keywords: C32, E44, F44, economies, liquidity, advanced economies, exchange rate, Time-Series Models, Financial Markets and the Macroeconomy, International Business Cycles
In this paper we first compare house price cycles in advanced and emerging economies using a new quarterly house price data set covering the period 1990-2012. We find that house prices in emerging economies grow fa...