English, Article, Journal or magazine article edition: Housing Markets, Wealth and the Business Cycle Pietro Catte; Nathalie Girouard; Robert Price; ...

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/137183
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Housing Markets, Wealth and the Business Cycle
Author
  • Pietro Catte
  • Nathalie Girouard
  • Robert Price
  • Christophe André
Physical Description
  • preprint
Notes
  • The paper examines the linkages between housing markets and the business cycle in OECD countries, focusing on how differences in the degree of resilience to economic shocks can be affected by the structural characteristics of housing and mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the factors behind house price variability, which help to determine whether the housing sector plays a stabilising role or not. Estimates of the marginal propensity to consume out of housing wealth are presented for ten OECD countries, where it is found that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets. Particularly important in this regard is the degree of mortgage market “completeness” -- i.e. the extent to which the market is able to offer a variety of products and to serve a broad range of potential borrowers -- in particular, the extent to which they provide ... Cette étude examine les liens entre les marchés immobiliers et le cycle économique dans les pays de l’OCDE, se concentrant sur le rôle des spécificités nationales des marchés immobiliers et hypothécaires sur l’inégale résilience face aux chocs économiques. Cette étude s’intéresse particulièrement au canal de transmission de la richesse immobilière à la consommation et aux facteurs expliquant la variabilité des prix des logements ; ces deux aspects contribuent à déterminer si le secteur immobilier joue un rôle stabilisateur ou non. Des estimations de la propension marginale à consommer la richesse immobilière sont présentées pour dix pays de l’OCDE. Ces estimations indiquent que les effets les plus important sur la consummation apparaissent dans les pays ayant des marchés hypothécaires de grande taille, efficients et réactifs. Le niveau de « complétude » du marché hypothécaire -- la mesure dans laquelle le marché peut offrir une variété de produits et répondre à un large éventail ...
  • cycle économique, consumption, wealth, house prices, consommation, richesse, prix des logements, business cycles, mortgage markets, marchés hypothécaires
  • RePEc:oec:ecoaaa:394-en
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment