The interaction between housing prices and housing credit: evidence from a country with rapid credit accumulation

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comunitat-uji-handle:10234/9

comunitat-uji-handle2:10234/8643

comunitat-uji-handle3:10234/8644

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Metadades

Títol
The interaction between housing prices and housing credit: evidence from a country with rapid credit accumulation
Autoria
 Cuestas, Juan Carlos;
 Kukk, Merike
Data de publicació
2020-05-15
Editor
Emerald
URI
http://hdl.handle.net/10234/188473
DOI
https://doi.org/10.1108/JES-11-2019-0519
Cita bibliogràfica
Cuestas, J.C. and Kukk, M. (2020), "The interaction between housing prices and housing credit: evidence from a country with rapid credit accumulation", Journal of Economic Studies, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JES-11-2019-0519
Tipus de document
info:eu-repo/semantics/article
Versió de l'editorial
https://www.emerald.com/insight/content/doi/10.1108/JES-11-2019-0519/full/html
Versió
info:eu-repo/semantics/publishedVersion
Paraules clau / Matèries
Resum
Purpose – This paper aims to investigate the mutual dependence between housing prices and housing credit inEstonia,acountrythatexperiencedrapiddebtaccumulationduringthe2000sandbigswingsinhouseprices during that period. ... [+]
Purpose – This paper aims to investigate the mutual dependence between housing prices and housing credit inEstonia,acountrythatexperiencedrapiddebtaccumulationduringthe2000sandbigswingsinhouseprices during that period. Design/methodology/approach – The authors use Bayesian econometric methods on data spanning 2000–2015. Findings – The estimations show the interdependence between house prices and housing credit. More importantly, negative housing credit innovations had a stronger effect on house prices than positive ones. Originality/value – The asymmetry in the linkage between housing credit and house prices highlights important policy implications, in that if central banks increase capital buffers during good times, they can release credit conditions during hard times to alleviate the negative spillover into house prices and the real economy. [-]
Proyecto de investigación
Agencia Estatal de Investigación (AEI), Spain and ‘Fondo Europeo de Desarrollo Regional’ (FEDER) (ECO2017-85503-R and the ECO2017-83255-C3-3-P projects) ; European Union’s Horizon 2020 research and innovation programme (Marie Sklodowska-Curie grant agreement No 734712).
Drets d'accés
info:eu-repo/semantics/openAccess
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Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial & non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at: http://creativecommons.org/licences/by/4.0/legalcode
Except where otherwise noted, this item's license is described as Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial & non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at: http://creativecommons.org/licences/by/4.0/legalcode