The Determinants of Private Sector Credit in Industrialised Countries: Do Property Prices Matter?

By Gregory D. Sutton. 2001

148 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/55302fdb9be4781adee7f32926573d6fbfee48e8

Citations in the corpus

• Aggregate Loans to the Euro Area Private Sector (2003, unknown): “4 for most euro area countries in Hofmann (2001)). 17 Some authors recommend that, in order to avoid measurement errors, studies on credit should replace real GDP with variables able to capture spending for items such as financial transactions (including those related to mergers and acquisitions), e”
• Self-reinforcing effects between housing prices and credit: an extended version (2013, unknown): “17Results from adopting a more orthodox GETS (general-to-specific) strategy, see Hoover and Perez (1999) and Hendry and Krolzig (1999, 2001), are available upon request,”
• Asset Prices and the Conduct of Monetary Policy (2002, unknown): “In Goodhart and Hofmann (2000) we do a similar exercise for a larger sample of industrialised countries.”
• A Survey of Cyclical Effects in Credit Risk Measurement Models (2002, unknown): “, Kim, Ramaswamy and Sundaresan (1993), Hull and White (1995), and Longstaff and Schwartz (1995)] assume that LGD is exogenously determined.”
• Bank Lending and Property Prices: Some International Evidence (2003, unknown): “In two recent studies, Hofmann (2001) and Gerlach and Peng (2002) analyse the relationship between bank lending and property prices based on a multivariate empirical framework.”
• The Interaction between Mortgage Financing and Housing Prices in Greece (2009, unknown): “This is consistent with the approach usually followed in the empirical literature when modelling credit aggregates, where it is assumed that they are mainly demand driven (see, for example, Bernanke and Blinder, 1988; Hofmann, 2001; Calza, Gartner and Sousa, 2003).”
• Commercial property prices and bank performance (2004, unknown): “Hofmann (2001) includes a mixture of residential and commercial property prices in a vector-error correction model and again finds a strong dynamic interdependence between bank credit and property prices with the latter being the causal element.”
• House Prices, Money, Credit and the Macroeconomy (2008, unknown): “Goodhart, C. and B. Hofmann (2004b), A second central bank instrument?, in: P.B. Sørensen (ed.)”
• Credit Growth in Central and Eastern Europe: New (Over)Shooting Stars? (2006, unknown): “Hofmann (2001) extends this list by house prices, a very important variable, because a rise in house prices is usually accompanied by an increase in credit to the private sector.”