| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10161 |
| DP10161 The Great Mortgaging: Housing Finance, Crises, and Business Cycles | |
| Alan M. Taylor; Moritz Schularick; Oscar Jorda | |
| 发表日期 | 2014-09-21 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks? balance sheets doubled in the course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have risen substantially in many countries. Financial stability risks have been increasingly linked to real estate lending booms which are typically followed by deeper recessions and slower recoveries. Housing finance has come to play a central role in the modern macroeconomy. |
| 主题 | Economic History ; International Macroeconomics |
| 关键词 | Business cycles Financial crises Leverage Local projections Mortgage lending Recessions |
| URL | https://cepr.org/publications/dp10161 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/538994 |
| 推荐引用方式 GB/T 7714 | Alan M. Taylor,Moritz Schularick,Oscar Jorda. DP10161 The Great Mortgaging: Housing Finance, Crises, and Business Cycles. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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