Read An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar

An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar

Pau Mr Rabanal

4.9/5 (31115 ratings)

Description:During the last decade, Hong Kong SAR has experienced a large increase in house prices and credit, prompting the authorities to respond with several rounds of tightening macroprudential rules and increasing stamp duty taxes. This paper provides a Dynamic Stochastic General Equilibrium (DSGE) model for Hong Kong SAR and analyzes the effectiveness of these measures, and finds that they have helped reduce house price appreciation and household leverage. A baseline small open economy real business cycle model is extended by including a housing sector, financial frictions, foreign demand for the domestic housing stock, and is estimated using Bayesian methods and data for Hong Kong SAR between 1996 and 2017. The paper finds that, without these policies, house prices would have been 10.5 percent higher, and the household credit-GDP ratio 14 percent higher.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar. To get started finding An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 25

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2018

ISBN: 1484351452

Description: During the last decade, Hong Kong SAR has experienced a large increase in house prices and credit, prompting the authorities to respond with several rounds of tightening macroprudential rules and increasing stamp duty taxes. This paper provides a Dynamic Stochastic General Equilibrium (DSGE) model for Hong Kong SAR and analyzes the effectiveness of these measures, and finds that they have helped reduce house price appreciation and household leverage. A baseline small open economy real business cycle model is extended by including a housing sector, financial frictions, foreign demand for the domestic housing stock, and is estimated using Bayesian methods and data for Hong Kong SAR between 1996 and 2017. The paper finds that, without these policies, house prices would have been 10.5 percent higher, and the household credit-GDP ratio 14 percent higher.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar. To get started finding An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar

An Estimated Dsge Model to Analyze Housing Market Policies in Hong Kong Sar

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