G2TT
来源类型External Publication
规范类型其他
Soaring house prices in major cities: how to spot and moderate them
Grégory Claeys; Konstantinos Efstathiou; Dirk Schoenmaker
发表日期2019-06-19
出版年2019
语种英语
概述This article examines whether there are regional differences in house price growth within European countries and find a stronger cyclical pattern in capital cities compared to other regions, indicating a clear rationale for regional-level tools. The authors recommend using macro-prudential measures at a regional level, in particular loan-to-value and debt-to-income limits, to dampen the housing boom-bust cycle.
摘要

Rapidly rising house prices are a well-known source of financial instability. This chapter examines whether there are regional differences in house price growth within European countries and, whether this warrants more targeted measures to address vulnerabilities. The focus is on the division in terms of house prices between the capital cities and the rest of the territories of six EU countries. There is evidence of a decoupling between capitals and the rest of the country. House prices in capitals seem to have a stronger cyclical component which would indicate a clear rationale for regional-level tools. An instrument that could be used locally is tax. But adjusting taxes to dampen house prices would be very difficult. Structural measures to adjust the housing supply, such as relaxing planning restrictions typically have a long lead time. An alternative is to use macro-prudential measures at a regional level, in particular loan-to-value and debt-to-income limits. In that way, the housing boom-bust cycle might be dampened.

主题European Macroeconomics & Governance
关键词European Union House prices Housing bubbles Macro-prudential regional differences
URLhttps://bruegel.org/2019/06/soaring-house-prices-in-major-cities-how-to-spot-and-moderate-them/
来源智库Bruegel (Belgium)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/429841
推荐引用方式
GB/T 7714
Grégory Claeys,Konstantinos Efstathiou,Dirk Schoenmaker. Soaring house prices in major cities: how to spot and moderate them. 2019.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
hot-property-front-p(135KB)智库出版物 限制开放CC BY-NC-SA缩略图
浏览
Claeys2019_Chapter_S(940KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Grégory Claeys]的文章
[Konstantinos Efstathiou]的文章
[Dirk Schoenmaker]的文章
百度学术
百度学术中相似的文章
[Grégory Claeys]的文章
[Konstantinos Efstathiou]的文章
[Dirk Schoenmaker]的文章
必应学术
必应学术中相似的文章
[Grégory Claeys]的文章
[Konstantinos Efstathiou]的文章
[Dirk Schoenmaker]的文章
相关权益政策
暂无数据
收藏/分享
文件名: hot-property-front-page.png
格式: image/png
文件名: Claeys2019_Chapter_SoaringHousePricesInMajorCitie.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。