{"id":9182,"date":"2022-07-27T06:54:07","date_gmt":"2022-07-27T06:54:07","guid":{"rendered":"https:\/\/depocen.org\/publications\/housing-investment-what-makes-it-so-volatiletheory-and-evidence-from-oecd-countries\/"},"modified":"2022-07-27T06:54:07","modified_gmt":"2022-07-27T06:54:07","slug":"housing-investment-what-makes-it-so-volatiletheory-and-evidence-from-oecd-countries","status":"publish","type":"publications","link":"https:\/\/depocen.org\/vi\/publications\/housing-investment-what-makes-it-so-volatiletheory-and-evidence-from-oecd-countries\/","title":{"rendered":"Housing Investment: What Makes It so Volatile?\r\nTheory and Evidence from OECD Countries"},"content":{"rendered":"<p>This paper explains how mortgage market liberalization can introduce greater<br \/>\nvolatility in the housing market, which is a stylized fact documented from OECD<br \/>\ncountries, with a DSGE model where households face a credit constraint and housing<br \/>\nis used as collateral. The housing collateral constraint creates a link between the<br \/>\nhousing market and borrowing capacity, a link that amplifies the response of housing<br \/>\ndemand to technology shocks and strengthens in economies with more liberalized<br \/>\nmortgage markets. The calibrated model is able to explain about 90 percent of<br \/>\nhousing investment volatility in the UK.<\/p>\n","protected":false},"featured_media":0,"template":"","cate_publications":[],"author_publications":[1594],"topic_publications":[],"class_list":["post-9182","publications","type-publications","status-publish","hentry","author_publications-quoc-hung-nguyen"],"acf":[],"_links":{"self":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/publications\/9182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/publications"}],"about":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/types\/publications"}],"wp:attachment":[{"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/media?parent=9182"}],"wp:term":[{"taxonomy":"cate_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/cate_publications?post=9182"},{"taxonomy":"author_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/author_publications?post=9182"},{"taxonomy":"topic_publications","embeddable":true,"href":"https:\/\/depocen.org\/vi\/wp-json\/wp\/v2\/topic_publications?post=9182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}