التفاصيل البيبلوغرافية
| العنوان: |
Structural and Cyclical Risks in Housing Markets in OECD Countries. |
| المؤلفون: |
Just, Tobias1 (AUTHOR), Salzberger, Hannah1 (AUTHOR) |
| المصدر: |
Intereconomics. Jun2024, Vol. 59 Issue 3, p167-175. 9p. |
| مصطلحات موضوعية: |
*HOUSING market, *RISK assessment, DISEASE risk factors, COUNTRIES |
| مستخلص: |
This paper analyses the housing markets of OECD countries using a scoring model. This model is based on a European Systematic Risk Board approach to risk assessment of housing markets but extends this approach in two important ways. First, this paper distinguishes between cyclical and structural risk factors. Markets facing higher susceptibility to cyclical risks necessitate a distinct policy approach to prevent or handle disruptions, as opposed to markets primarily affected by structural risks. Second, it illustrates that scoring models contain subjective aspects, e.g. in the choice of weighting factors. We develop four distinct models to weigh risk factors. We show that these different weighing schemes have a significant impact on the estimated risk scores. For policy decisions, such models can therefore only be an indication of the vulnerability of housing markets to crises. Therefore, several scenarios and models should be calculated in parallel to reduce subjectivity. [ABSTRACT FROM AUTHOR] |
|
Copyright of Intereconomics is the property of Sciendo and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) |
| قاعدة البيانات: |
Business Source Index |
Full Text Finder