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How to Deal with Real Estate Booms: Lessons from Country Experiences
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Author/Editor: |
Crowe, Christopher W. | Dell'Ariccia, Giovanni | Igan, Deniz | Rabanal, Pau |
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April 1, 2011 |
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Electronic Access: |
Free Full Text (PDF file size is 2,211KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as implementation challenges of various policy tools that can be used to contain the damage to the financial system and the economy from real estate boom-bust episodes.
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Order a print copy
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Series: |
Working Paper No. 11/91 |
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Subject(s): |
Bank credit | Business cycles | Cross country analysis | Demand | Fiscal policy | Housing | Monetary policy | Private sector | Property taxes | Real estate prices | Taxes |
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Author's keyword(s): |
real estate | macroeconomic policy | macroprudential regulation |
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Published: |
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April 1, 2011 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2011091 |
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Pages: |
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58 |
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Price: |
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US$18.00 (Academic Rate: US$18.00 )
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