The Determinants of Bank Credit in Industrialized Countries: Do Property Prices Matter?

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Self-reinforcing effects between housing prices and credit: an extended version (2013, result): “The long-run results are further corroborated in Hofmann (2004),2 where he first studies VARs in real credit to the private sector, GDP (as a broad measure of economic activity) and the short-term real interest rate as a measure of financing costs for each country.”
The Interaction between Mortgage Financing and Housing Prices in Greece (2009, unknown): “5 See also, Hofmann (2004).”