Arbeitspapier
The Great Mortgaging: Housing Finance, Crises, and Business Cycles
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 4993
- Klassifikation
-
Wirtschaft
Semiparametric and Nonparametric Methods: General
Multiple or Simultaneous Equation Models: Classification Methods; Cluster Analysis; Principal Components; Factor Models
Model Evaluation, Validation, and Selection
Business Fluctuations; Cycles
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
Financial Markets and the Macroeconomy
Money Supply; Credit; Money Multipliers
Financial Crises
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: General, International, or Comparative
Economic History: Financial Markets and Institutions: General, International, or Comparative
- Thema
-
leverage
recessions
mortgage lending
financial crises
business cycles
local projections
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Jordà, Òscar
Schularick, Moritz
Taylor, Alan M.
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Jordà, Òscar
- Schularick, Moritz
- Taylor, Alan M.
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2014
Ähnliche Objekte (12)
Breaking the Link Between Housing Cycles, Banking Crises, and Recession
Crises and cycles
Endogenous Housing Market Cycles
Urban housing finance
Housing, housing finance and credit risk
Business, housing and credit cycles
Costs of housing crises: International evidence
Costs of housing crises: International evidence
Costs of housing crises : International evidence
Costs of housing crises : International evidence
Seasonal cycles in the housing market
Commerce, finances et crises financieres
Breaking the Link Between Housing Cycles, Banking Crises, and Recession
Crises and cycles
Endogenous Housing Market Cycles
Urban housing finance
Housing, housing finance and credit risk
Business, housing and credit cycles
Costs of housing crises: International evidence
Costs of housing crises: International evidence
Costs of housing crises : International evidence
Costs of housing crises : International evidence
Seasonal cycles in the housing market
Commerce, finances et crises financieres
Breaking the Link Between Housing Cycles, Banking Crises, and Recession
Crises and cycles
Endogenous Housing Market Cycles
Urban housing finance
Housing, housing finance and credit risk
Business, housing and credit cycles
Costs of housing crises: International evidence
Costs of housing crises: International evidence
Costs of housing crises : International evidence
Costs of housing crises : International evidence
Seasonal cycles in the housing market