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Macroprudential Policies and Housing Price :, A New Database and Empirical Evidence for Central, Eastern, and Southeastern Europe, Jerome Vandenbussche, Ursula Vogel, Enrica Detragiache

Abstract
Several countries in Central, Eastern and Southeastern Europe used a rich set of prudential instruments in response to last decade’s credit and housing boom and bust cycles. We collect detailed information on these policy measures in a comprehensive database covering 16 countries at a quarterly frequency. We use this database to investigate whether the policy measures had an impact on housing price inflation. Our evidence suggests that some—but not all—measures did have an impact. These measures were changes in the minimum CAR and non-standard liquidity measures (marginal reserve requirements on foreign funding, marginal reserve requirements linked to credit growth)
Table Of Contents
Cover; Contents; I. Introduction; II. A First Look at the Data; A. Housing Prices; B. Fundamental Macroeconomic and Demographic Variables; Figures; 1. Selected CESEE Countries: Seasonally-Adjusted Real House Price Index, 1997:Q1-2011:Q1; C. Macroprudential Policies; 2. Number of Macroprudential Policy Chances in the Dataset; 3. Selected CESEE Countries: Quarterly Changes in Strength of Prudential Regulation; 4. Selected CESEE Countries: Cumulative Changes in Strength of Prudential Regulation; Tables; 1. Summary Statistics; III. Econometric Model and Choice of Specification
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (37 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781475566369

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