How to order
IMF Publications

Working Papers in full text
2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 All


Other research-related activities and publications of the IMF can be found at IMF Research

Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile



House Price Determinants in Selected Countries of the Former Soviet Union

Author/Editor: Stepanyan, Vahram | Poghosyan, Tigran | Bibolov, Aidyn
Authorized for Distribution: April 1, 2010
Electronic Access: Free Full Text (PDF file size is 985KB)
Use the free Adobe Acrobat Reader to view this PDF file.
 
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.

Summary: This paper analyses the recent boom-bust cycle in the housing markets of selected Former Soviet Union (FSU) countries. The analysis is based on a newly constructed database on house prices in the FSU countries. Our estimations suggest that house price developments can largely be explained by the dynamics of fundamentals, such as GDP, remittances, and external financing. Overall, we find that deviations of house prices from their fundamentals have not been pronounced, suggesting that house price bubbles have not been formed in the FSU countries.
 
Order a print copy
Series: Working Paper No. 10/104
Subject(s): Business cycles | Capital inflows | Cross country analysis | Economic growth | External shocks | Former Soviet Union | Housing prices | Price elasticity | Workers remittances
Author's keyword(s): House prices | pooled mean group estimator | the Former Soviet Union
 
English  
    Published:   April 1, 2010        
            Format:   Paper
    Stock No:   WPIEA2010104   Pages:   15
    Price:   US$18.00
       
     
Please address any questions about this title to publications@imf.org.