Real Estate Soars and Financial Crises: Recent Stories
نویسندگان
چکیده
منابع مشابه
Banking regulation, capital crunches and real estate crises¤
We construct an economy where, in the presence of binding regulatory capital requirements, a two way interaction between banks’ capitalisation and borrowers’ choice of projects propagates negative shocks to technology or regulation. The key elements behind this ...nancial accelerator are a limited substitutability in entrepreneurs’ sources of external ...nance, a moral hazard in entrepreneurs’ ...
متن کاملForecasting real estate returns using financial spreads
This paper examines the predictability of real estate asset returns using a number of time series techniques. A vector autoregressive model, which incorporates financial spreads, is able to improve upon the out of sample forecasting performance of univariate time series models at a short forecasting horizon. However, as the forecasting horizon increases, the explanatory power of such models is ...
متن کاملFinancial Crises and Political Crises∗
The simultaneous determination of financial default and political crises is studied in an open economy model. Political crises accompany default in equilibrium because of an information transmission conflict between the government and the public. Multiple equilibria are possible: if foreign lenders are pessimistic about the country’s stability, they demand a high interest on the debt, exacerbat...
متن کاملContagion Channels between Real Estate and Financial Markets∗
The recent crisis has demonstrated the close linkages between various asset classes within a country as well as the association between assets internationally. The aim of this research is to provide for a better understanding of some of these linkages by conducting an empirical investigation of the channels underlying the risk of contagion between real estate and financial markets in the United...
متن کاملAppendix to "Financial Crises and Political Crises"
PBE Type i: Neither default nor political crisis If V ≤ χL, the costs of default are always larger than the costs of servicing the debt even for the benevolent government. Then in equilibrium, the government proposes to service the debt, which is accepted by the representative agent. Hence the debt is repaid and political crisis is avoided. Neither the benevolent government nor the self interes...
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ژورنال
عنوان ژورنال: Sustainability
سال: 2018
ISSN: 2071-1050
DOI: 10.3390/su10124559