House price volatility : The role of different buyer types
نویسندگان
چکیده
This Economic Letter examines the link between house price dynamics in Ireland during the recent housing boom and the composition of buyers in the market. The analysis provides information on the relative riskiness of different buyer types, a topic that has increased in importance with the recent Central Bank of Ireland proposals to cap loan-to-value and loan-to-income ratios for new mortgage borrowings. The analysis points to an association between periods of strong house price growth and the changing composition of Irish property purchasers, and in particular, the rise in the BTL segment.
منابع مشابه
Nonlinearity Transmission of Monetary Policy Through the House Price Channel; MSVAR Approach
In the past decades, the discussions between economists have changed of impact or no impact of monetary policy to effective monetary policy channels. Since, The housing sector has a large share in the household consumption basket, gross domestic product and wealth of the private sector, Then this sector play very decisive role in transfer transfer of monetary policy effects on production. There...
متن کاملComparing the performance of GARCH (p,q) models with different methods of estimation for forecasting crude oil market volatility
The use of GARCH models to characterize crude oil price volatility is widely observed in the empirical literature. In this paper the efficiency of six univariate GARCH models and two methods of estimation the parameters for forecasting oil price volatility are examined and the best method for forecasting crude oil price volatility of Brent market is determined. All the examined models in this p...
متن کاملAn Analysis of Shocks Affecting House Prices in Iran and Its Convergence with the Housing Market in Selected Countries
The housing sector is one of the most important economic sectors in terms of household expenditure and GDP and its role in changing macroeconomic index such as economic growth and employment. Given the importance of the housing sector in the economy and there is a lot of volatility in this sector, in this study, the factors affecting the price of housing has been Including stock indices, liquid...
متن کاملبررسی الگوی چند رفتاری رشد اقتصادی در واکنش به نوسانات قیمت نفت خام: کاربردی از مدلهای GARCH و رگرسیون چرخشی مارکف
Price shocks lead to oil price volatility in world oil markets. In response to this volatility, economic growth may take different regime and behavior patterns in different situation. Investigating this multi behavior patterns can be useful for policymakers to reduce the effect of oil price volatility. In this study, an EGARCH model has developed using the seasonal data of OPEC oil basket nomin...
متن کاملForecasting Crude Oil prices Volatility and Value at Risk: Single and Switching Regime GARCH Models
Forecasting crude oil price volatility is an important issues in risk management. The historical course of oil price volatility indicates the existence of a cluster pattern. Therefore, GARCH models are used to model and more accurately predict oil price fluctuations. The purpose of this study is to identify the best GARCH model with the best performance in different time horizons. To achieve th...
متن کامل