The Interaction between Mortgage Financing and Housing Prices in Greece

By Sophocles N. Brissimis, Thomas Vlassopoulos. Social Science Research Network, 2009

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Self-reinforcing effects between housing prices and credit: an extended version (2013, methodology): “It is however greater than the estimates found by Brissimis and Vlassopoulos (2009) [−0.039] for Greece and Fitzpatrick and McQuinn (2007) [0.”
On the macroeconomic determinants of the housing market in Greece: a VECM approach (2016, background): “Brissimis and Vlassopoulos (2007) examined the connection between mortgages and housing prices in Greece and couldn’t find a long term causal relationship from mortgages to prices, although in the short-run evidence of a bi-directional relationship was found. Merikas et al (2010) developed an equili”
Housing Finance in the Euro Area (2009, background): “It is more plausible to assume a mutually reinforcing relationship (See for instance Tsatsaronis and Zhu (2004), Fitzpatrick and McQuinn (2007), and Brissimis and Vlassopoulos (2009)).”
Current account determinants and external sustainability in periods of structural change (2011, unknown): “…assume that the long-run nominal growth rate is about 5%, consisting of a 3% real growth rate (more or less in line with the 21 A recent study by Brissimis and Vlassopoulos (2009) shows that mortgage loans have a unitary longrun elasticity with respect to GDP. potential growth rate of the last…”