Bank Lending and Property Prices: Some International Evidence

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Self-reinforcing effects between housing prices and credit: an extended version (2013, methodology): “Like Hofmann (2003), Fitzpatrick and McQuinn (2007) analyze the long-run dependence within a single-equation framework adopting the original approach to cointegration of Engle and Granger (1987).3 When exploring the dynamic interaction between housing prices and credit, the two equations are…”
Bank lending and commercial property cycles: some cross-country evidence (2011, methodology): “Hofmann (2001a) looks into a panel of 16 countries and finds evidence that bank lending and house prices have a significant two-way interaction in the short run but that long-run causality is from property prices to bank lending.”
Monetary policy, asset prices and macroeconomic conditions: a panel-VAR study. NBB Working Papers. No. 149, 16 October 2008 (2008, background): “Hofmann (2003) provides a cross-country analysis that suggests that credit seems to play largely an accommodating role in property-price cycles in many countries.”
Bank Lending and Property Prices in Hong Kong (2005, background): “2 A similar study by Hofmann (2003) studies the relationship between bank lending and property prices in 16 developed economies using a cointegration framework.”