Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/148315 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
Kiel Working Paper No. 2066
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
We identify the effects of the supply of mortgage credit on house prices, using the politicallydirected credit-targeting regime of Venezuela as quasi-natural experiment. We find a large effect of the supply of housing credit on time path of house prices (or housing Markups), with an elasticity of housing markups with respect to credit of about 0.23 under our baseline specification, and similar results under a set of alternative specifications. These estimates are close to previous panel estimates for the United States, which suggests that these estimates capture similar phenomena.
Schlagwörter: 
house prices
credit supply
Venezuela
credit targeting
JEL: 
E51
E65
R31
Dokumentart: 
Working Paper

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