Housing Markets, Wealth and the Business Cycle

By Pietro Catte, Nathalie Girouard, R. Price, C. André. 2004

396 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/88992b593e08bf0891e949a02796b17bd5073459

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In Economics and Econometrics

Citations in the corpus

Structural Balances and Revenue Windfalls: The Role of Asset Prices Revisited (2007, result): “…seem to be the important variable in most countries, including several euro area countries, which is consistent with existing literature which suggests stronger wealth effects on consumption from the housing market, but much less so from the stock market (Case et al (2001), Catte et al (2004)).”
Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter? (2007, background): “A lower (higher) down-payment rate χ and/or a lower repayment rate ξ, both representative of a "more (less) flexible" mortgage market, entail that a larger (smaller) variation in consumption is needed to satisfy (16) for any given variation in ψt (i.”
The Determinants of Unemployment across OECD Countries (2007, background): “(2004) and Catte et al. (2004).”
Recent House Price Developments (2006, neutral): “See Catte et al. (2004).”
Some Stylized Facts on the Finance-Dominated Accumulation Regime (2008, neutral): “In the course of the 1990s they came down again (most importantly in the Mediterranean countries), but even in the 2000s they remain well above real GDP growth rates.”
Real House Prices in OECD Countries: The Role of Demand Shocks and Structural and Policy Factors (2010, methodology): “…that tax relief on mortgage debt financing encourages households (particularly those with high incomes) to hold more debt than otherwise (Hendershott et al. 2002) and possibly engage in speculative property investment, which may amplify house price variability (Catte et al. 2004; Ellis, 2008).”
How Long Do Housing Cycles Last? A Duration Analysis for 19 OECD Countries (2011, methodology): “The present paper belongs to the strand that focuses on national-level data, exploiting acrosscountry variation in macroeconomic variables to identify the determinants of housing prices (Catte et al., 2004; IMF, 2004).”
Financialisation, income distribution and aggregate demand in the USA (2011, background): “Several studies claimed to find substantially higher marginal propensity to consume out of property wealth than out of financial assets (Case et al., 2001; Catte et al., 2004; Girouard et al., 2006), since residential property is more frequently accepted as collateral.”