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Are House Prices Rising Too Fast in China?

Are House Prices Rising Too Fast in China? »

Source: Are House Prices Rising Too Fast in China?

Volume/Issue: 2010/274

Series: IMF Working Papers

Author(s): Ashvin Ahuja , Lillian Cheung , Gaofeng Han , Nathan Porter , and Wenlang Zhang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2010

ISBN: 9781455210817

Keywords: House price, price misalignment, leverage cycle, mortgage, real estate, land sales, mortgage loan, mortgage interest,

Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of hou...

Assessing House Prices with Prudential and Valuation Measures

Assessing House Prices with Prudential and Valuation Measures »

Source: Assessing House Prices with Prudential and Valuation Measures

Volume/Issue: 2019/59

Series: IMF Working Papers

Author(s): Michal Andrle

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 March 2019

ISBN: 9781498302814

Keywords: Interest rates, Market interest rates, Cyclical indicators, Index numbers, Economic growth, house prices, borrowing capacity, present value, financial stability, mortgage rate

In this paper we provide tools for assessing the house prices and housing valuation. We develop two approaches: (i) borrowing capacity approach, and (ii) intrinsic value approach. The borrowing capacity of househol...

Balancing Financial Stability and Housing Affordability: The Case of Canada

Balancing Financial Stability and Housing Affordability: The Case of Canada »

Volume/Issue: 2018/237

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 November 2018

DOI: http://dx.doi.org/10.5089/9781484381236.001

ISBN: 9781484381236

Keywords: Macroprudential policies and financial stability, Housing prices, Property taxes, General equilibrium models, Business cycles, Price indexes, Consumption, Interest rates on loans, Central bank policy, DSGE model

Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper utilizes a stylized model of the Canadian economy that includes policymakers with differing obj...

Balancing Financial Stability and Housing Affordability: The Case of Canada

Balancing Financial Stability and Housing Affordability: The Case of Canada »

Source: Balancing Financial Stability and Housing Affordability: The Case of Canada

Volume/Issue: 2018/237

Series: IMF Working Papers

Author(s): Troy Matheson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 November 2018

ISBN: 9781484381236

Keywords: Macroprudential policies and financial stability, Housing prices, Property taxes, General equilibrium models, Business cycles, Price indexes, Consumption, Interest rates on loans, Central bank policy, DSGE model

Housing market imbalances are a key source of systemic risk and can adversely affect housing affordability. This paper utilizes a stylized model of the Canadian economy that includes policymakers with differing obj...

Bank Behavior in Response to Basel Iii

Bank Behavior in Response to Basel Iii »

Source: Bank Behavior in Response to Basel Iii : A Cross-Country Analysis

Volume/Issue: 2011/119

Series: IMF Working Papers

Author(s): Thomas Cosimano , and Dalia Hakura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262427

Keywords: capital constraints, equity, capital requirements, nonperforming loans, interest expense, bank capital, Central Banking, And The Supply Of Money And Credit, financial Institutions And Services,

This paper investigates the impact of the new capital requirements introduced under the Basel III framework on bank lending rates and loan growth. Higher capital requirements, by raising banks' marginal cost of fun...

Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?

Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks? »

Source: Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non-Performing Loans from Portuguese Banks?

Volume/Issue: 2019/99

Series: IMF Working Papers

Author(s): Andre Santos

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 May 2019

ISBN: 9781498312080

Keywords: Financial soundness indicators, Bank capital, Financial crises, Credit, Interest rates, Asset managers, contingent convertibles, asset pricing, nonperforming loans, AMs

This paper analyzes the capital structure of private asset managers in which the acquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles (CoCos) placed with investors. The paper develops a...

The Chicago Plan Revisited

The Chicago Plan Revisited »

Source: The Chicago Plan Revisited

Volume/Issue: 2012/202

Series: IMF Working Papers

Author(s): Michael Kumhof , and Jaromir Benes

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505528

Keywords: Chicago Plan, Chicago School of Economics, 100% reserve banking, bank lending, lending risk, private money creation, bank capital adequacy, private debt, boom-bust cycles, debt

At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functi...

Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model*

Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model* »

Source: Climate Disaster Risks - Empirics and a Multi-Phase Dynamic Model

Volume/Issue: 2019/145

Series: IMF Working Papers

Author(s): Stefan Mittnik , Willi Semmler , and Alexander Haider

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2019

ISBN: 9781498320849

Keywords: Real sector, Economic growth, Interest costs, Interest rates on loans, Low income countries, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often ent...

Competition and Bank Risk the Role of Securitization and Bank Capital1

Competition and Bank Risk the Role of Securitization and Bank Capital1 »

Source: Competition and Bank Risk the Role of Securitization and Bank Capital

Volume/Issue: 2019/140

Series: IMF Working Papers

Author(s): Yener Altunbas , David Marques?Ibanez , Michiel van Leuvensteijn , and Tianshu Zhao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2019

ISBN: 9781498318501

Keywords: Bank credit, Interest rates on loans, Bank liquidity, Central banks, Bank accounting, securitization, pre-crisis, industry level, individual bank, market power

We examine how bank competition in the run-up to the 2007-2009 crisis affects banks' systemic risk during the crisis. We then investigate whether this effect is influenced by two key bank characteristics: securitiz...

Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data1

Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data1 »

Source: Debt Service and Default: Calibrating Macroprudential Policy Using Micro Data

Volume/Issue: 2019/182

Series: IMF Working Papers

Author(s): Erlend Nier , Radu Popa , Maral Shamloo , and Liviu Voinea

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 August 2019

ISBN: 9781513509099

Keywords: Interest rates on loans, Interest rates, Financial crises, Financial institutions, Macroprudential policies and financial stability, Macroprudential policy, Household credit, Romania, WP, consumer loan

We provide empirical evidence to support the calibration of a limit on household indebtedness levels, in the form of a cap on the debt-service-to-income (DSTI) ratio, in order to reduce the probability of borrower...