House Prices and the Macroeconomy: Implications for Banking and Price Stability

By C. Goodhart, Boris Hofmann. 2007

154 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/2388be56f7eb062dc8bab46746cb1aba67d4995b

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

1. C. Leung
2. A. K. Anundsen
3. Kuang-Liang Chang
4. Nan Chen
5. E. Jansen
6. W. Orth
7. A. Belke
8. A. Calza

Citations in the corpus

• Liquidity and the Dynamic Pattern of Asset Price Adjustment: A Global View (2010, background): “…it is of interest to see that house price shocks have predictive content for future goods price inflation suggesting that house prices should be taken into account by monetary authorities as they signal changes in expected goods price inflation (see Goodhart and Hofmann 2007 for similar results).”
• House Prices, Money, Credit and the Macroeconomy (2008, unknown): “In previous work (Goodhart and Hofmann, 2004b, 2007) we have made the suggestion to introduce regulatory ceilings for LTVs on mortgage lending that should be varied countercylically.”
• Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock (2011, methodology): “13It includes the Hamilton (1989) regime switching model, and the test on the stationarity test for regime-switching model developed by Francq and Zakoian (2001).”
• Real Estate Prices and Bank Stability (2010, unknown): “Sustained imbalances in real estate markets can jeopardize the soundness of the financial sector due to banks’ central role as mortgage lenders and the use of real estate as collateral (Goodhart and Hofmann, 2007).”
• Monetary policy, asset prices and macroeconomic conditions: a panel-VAR study. NBB Working Papers. No. 149, 16 October 2008 (2008, background): “As a consequence, it is frequently possible to think of several explanations for the observed correlations (e.g. 1 See for instance Ahearne et al. (2005) or Goodhart and Hofmann (2007, 2008) and the contributions in Hunter et al. (2003).”
• Self-reinforcing effects between housing prices and credit: an extended version (2013, background): “Fitzpatrick and McQuinn (2007) look at the interaction between housing prices and mortgage credit in Ireland between 1981 2See also Goodhart and Hofmann (2007).”
• Ensuring Financial Stability: Financial Structure and the Impact of Monetary Policy on Asset Prices (2008, unknown): “Indeed, many observers have argued that property-price collapses have historically played an important role in episodes of financial instability at the level of individual financial institutions and the macro economy (e.g. Ahearne et al. 2005, Goodhart and Hofmann 2007a).”