Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/88957 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
IDB Working Paper Series No. IDB-WP-343
Verlag: 
Inter-American Development Bank (IDB), Washington, DC
Zusammenfassung: 
This paper investigates the international spillovers of housing demand shocks on real economic activity. The global economy is modelled using a Global VAR, with a novel house price data set for both advanced and emerging economies. The impulse responses to an identified US housing demand shock confirm the existence of strong international spillovers to advanced economies. In contrast, the response of some major emerging economies is not significantly different from zero. The paper also shows that synchronized housing demand shocks in advanced economies reinforce each other and have a deep and long-lasting impact on economic activity.
JEL: 
C32
E44
F44
Dokumentart: 
Working Paper

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