Three Cycles : Housing, Credit, and Real Activity

Housing, Credit, and Real Activity

Three Cycles : Housing, Credit, and Real Activity
We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in the short to medium term the relationship varies... READ MORE...

Publication date: October 2009
ISBN 9781451873788
$18.00

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