TY - BOOK ID - 11279019 TI - Global Housing Cycles AU - Igan, Deniz. AU - Loungani, Prakash. PY - 2012 VL - WP/12/217 SN - 1475528094 1475505671 1475566794 1475518250 9781475528091 9781475505672 9781475518252 9781475505672 9781475518252 9781475566796 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Business & Economics KW - Real Estate, Housing & Land Use KW - Housing. KW - Housing KW - Prices. KW - Dwellings KW - Home prices KW - House prices KW - Housing prices KW - Residential real estate KW - Affordable housing KW - Homes KW - Houses KW - Housing needs KW - Residences KW - Slum clearance KW - Urban housing KW - Prices KW - Social aspects KW - City planning KW - Human settlements KW - Business cycles KW - E-books KW - Economic cycles KW - Economic fluctuations KW - Cycles KW - Infrastructure KW - Macroeconomics KW - Real Estate KW - Industries: Financial Services KW - Business Fluctuations KW - Financial Markets and the Macroeconomy KW - Macroeconomic Aspects of International Trade and Finance: General KW - Housing Supply and Markets KW - Economic Development: Urban, Rural, Regional, and Transportation Analysis KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Aggregate Factor Income Distribution KW - Price Level KW - Inflation KW - Deflation KW - Property & real estate KW - Finance KW - Income KW - Asset prices KW - National accounts KW - Financial institutions KW - Saving and investment KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:11279019 AB - Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections. ER -