Real estate markets and macroprudential policy in Europe

Journal of Money, Credit and Banking

Volumn 47, Issue S1, 2015, Pages 69-80

  Hartmann, Philipp ^a  

^a ERASMUS UNIVERSITY ROTTERDAM   (Netherlands)

Author keywords

Bubbles; Financial crises; Financial regulation; Financial stability indicators; Macroprudential policy; Real estate markets; Systemic risk

Indexed keywords

EID: 84925831243     PISSN: 00222879     EISSN: 15384616     Source Type: Journal    
DOI: 10.1111/jmcb.12192     Document Type: Article

References (21)

1. Banca d'Italia. (2013) Financial Stability Report, No. 5, April, Rome.
2. Blake, Neil, and John Muellbauer. (2009) "Developing Analytical Methods for the Identification of Imbalances and Risks in the EU Housing Markets." Final Report for the European Commission, Oxford Economics, September.
3. Bordo, Michael, and Olivier Jeanne. (2002) "Monetary Policy and Asset Prices: Does 'Benign Neglect' Make Sense?" International Finance, 5, 139-64.
4. Claessens, Stijn, Swati R. Ghosh, and Roxana Mihet. (2014) Macro-Prudential Policies to Mitigate Financial System Vulnerabilities, IMF Working Paper No. WP/14/155.
5. Corradin, Stefano. (2014) "Household Leverage." Journal of Money, Credit and Banking, 46, 567-613.
6. Corradin, Stefano, and Alessandro Fontana. (2013) House Price Cycles in Europe, ECB Working Paper No. 1613.
7. Crowe, Christopher W., Giovanni Dell'Ariccia, Deniz Igan, and Pau Rabal. (2013) "How to Deal with Real Estate Booms: Lessons from Country Experiences." Journal of Financial Stability, 9, 300-19.
8. Duca, John, John Muellbauer, and Anthony Murphy. (2010) "Housing Markets and the Financial Crisis of 2007-2009: Lessons for the Future." Journal of Financial Stability, 6, 203-17.
9. European Central Bank. (2009a) "Housing Finance in the Euro Area." Structural Issues Report, March, Frankfurt am Main.
10. European Central Bank. (2009b) "The Concept of Systemic Risk." Financial Stability Review, December, 134-142.
11. European Central Bank. (2011) Financial Stability Review, June.
12. European Central Bank. (2014) Report on the Macroprudential Research Network (MaRs), June, Frankfurt am Main.
13. European Systemic Risk Board. (2014) The ESRB Handbook on Operationalising Macro-prudential Policy in the Banking Sector. Frankfurt am Main.
14. Gelain, Paolo, Kevin J. Lansing, and Caterina Mendicino. (2013) "House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy." International Journal of Central Banking, 9, 219-76.
15. Kaminsky, Graciela, and Carmen M. Reinhart. (1999) "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems." American Economic Review, 89, 473-500.
16. Kok, C., R. Martin, D. Moccero, and M. Sandstöm. (2014) "Recent Experience of European Countries with Macro-prudential Policy." ECB Financial Stability Review, May, 113-26.
17. Kuttner, Kenneth, and Ilhyock Shim. (2013) "Can Non-Interest Rate Policies Stabilise Housing Markets? Evidence from a Panel of 57 Economies." BIS Working Paper No. 433.
18. Mendicino, Caterina. (2012) "Collateral Requirements: Macroeconomic Fluctuations and Macro-Prudential Policy." Banco de Portugal Working Paper No. 11.
19. Reinhart, Carmen, and Kenneth Rogoff. (2008) "Is the 2007 U.S. Subprime Crisis So Different? An International Comparison." American Economic Review Papers and Proceedings, 98, 339-44.
20. Reinhart, Carmen, and Kenneth Rogoff. (2009) This Time Is Different: Eight Centuries of Financial Folly. Princeton, NJ: Princeton University Press.
21. Vandenbussche, Jérôme, Ursula Vogel, and Enrica Detragiache. (2012) "Macroprudential Policies and Housing Prices-A New Database and Empirical Evidence for Central, Eastern, and Southeastern Europe." IMF Working Paper No. WP/12/303.