Series: IMF Working Papers
Author(s): Natalia Tamirisa , Alain Kabundi , Deniz Igan , Francisco Nadal De Simone , and Marcelo Pinheiro
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2009
Keywords: Macro-financial linkages, house prices, business cycle, lead, spillovers,
We examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House pric...