"Figure 3.16. House Price Synchronization Predicts a Downside Risk to Economic Growth at Short Horizons (Quantile regression coefficients, percentage points of GDP)
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"Source: IMF staff estimates.
Note: Solid bars denote statistically significant quantile regression coefficients at a 10 percent confidence interval.
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"1. One Quarter Ahead
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Quantile,Direct effect,Interaction with leverage,,,,Quantile,Direct effect,Interaction with leverage
0.10,-0.377912582,-0.613776748,,,,0.10,-0.294777442,-0.399045621
0.25,-0.317693239,-0.315759151,,,,0.25,-0.241795622,-0.283115552
0.50,-0.241269489,-0.34586239,,,,0.50,-0.125972356,-0.183344568
0.75,-0.236087701,-0.279054679,,,,0.75,-0.104382483,-0.090360569
0.90,-0.161588023,-0.112391311,,,,0.90,-0.086131432,-0.109320735
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