ENGLISH

Housing Markets in Europe: A Macroeconomic Perspective

By Olivier de Bandt , Matteo Iacoviello (auth.) , Thomas Knetsch , Juan Peñalosa , Francesco Zollino (eds.)

Book information

Publisher
Springer-Verlag Berlin Heidelberg
Year
2010
ISBN
3642153399, 9783642153396, 9783642153402
DOI
10.1007/978-3-642-15340-2
Open Library ID
OL25076673M
Language
english
Format
PDF
Filesize
6 MB (6800635 bytes)
Edition
1
Pages
406\427
Topic
Economy
Time added
2011-06-04 13:46:07
Macroeconomics/Monetary Economics; European Integr

Description

During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental determinants in terms of supply and demand characteristics, and its relationship with the overall business cycle. The co-movements of house prices across countries are also considered, as well as the channel of transmission of house price changes to the rest of the economy. Particular attention is paid to the effects on private consumption, through possible wealth effects. The book is a compilation of original papers produced by economists and researchers from the four main national central banks in the euro area, also with the participation of leading academics.

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