Current account dynamics and the housing cycle in Spain
We investigate the negative correlation between housing markets and the current account in a monetary union, using the Spanish economy as an illustrative example. By employing robust sign restrictions, which we derive from a DSGE model for a currency union, we analyze the effects of Spanish pull and...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Dokumenttyp: | Article (Journal) |
| Sprache: | Englisch |
| Veröffentlicht: |
30 May 2018
|
| In: |
Journal of international money and finance
Year: 2018, Jahrgang: 87, Pages: 22-43 |
| ISSN: | 0261-5606 |
| DOI: | 10.1016/j.jimonfin.2018.05.007 |
| Online-Zugang: | Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1016/j.jimonfin.2018.05.007 Verlag, lizenzpflichtig, Volltext: https://www.sciencedirect.com/science/article/pii/S0261560618303267 
|
| Verfasserangaben: | Daniel Maas, Eric Mayer, Sebastian K. Rüth |
MARC
| LEADER | 00000caa a2200000 c 4500 | ||
|---|---|---|---|
| 001 | 1750009579 | ||
| 003 | DE-627 | ||
| 005 | 20220819122541.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 210301s2018 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1016/j.jimonfin.2018.05.007 |2 doi | |
| 035 | |a (DE-627)1750009579 | ||
| 035 | |a (DE-599)KXP1750009579 | ||
| 035 | |a (OCoLC)1341396442 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a 17 |2 sdnb | ||
| 100 | 1 | |a Maas, Daniel Peter |d 1988- |e VerfasserIn |0 (DE-588)1167534379 |0 (DE-627)1031160809 |0 (DE-576)511182031 |4 aut | |
| 245 | 1 | 0 | |a Current account dynamics and the housing cycle in Spain |c Daniel Maas, Eric Mayer, Sebastian K. Rüth |
| 264 | 1 | |c 30 May 2018 | |
| 300 | |a 22 | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 500 | |a Gesehen am 01.03.2021 | ||
| 520 | |a We investigate the negative correlation between housing markets and the current account in a monetary union, using the Spanish economy as an illustrative example. By employing robust sign restrictions, which we derive from a DSGE model for a currency union, we analyze the effects of Spanish pull and Eurozone push factors in a mixed-frequency VAR framework. Savings glut, risk premium, and housing bubble shocks are capable of generating the negative co-movement of housing markets and the current account in the data. In contrast—and counterfactual to the housing boom—financial easing shocks in Spain predict a decline in both residential investment and house prices. | ||
| 650 | 4 | |a Current account | |
| 650 | 4 | |a Housing markets | |
| 650 | 4 | |a Monetary union | |
| 700 | 1 | |a Mayer, Eric |d 1973- |e VerfasserIn |0 (DE-588)129741957 |0 (DE-627)478575351 |0 (DE-576)297813366 |4 aut | |
| 700 | 1 | |a Rüth, Sebastian |d 1987- |e VerfasserIn |0 (DE-588)1024970523 |0 (DE-627)720829291 |0 (DE-576)369779738 |4 aut | |
| 773 | 0 | 8 | |i Enthalten in |t Journal of international money and finance |d Amsterdam [u.a.] : Elsevier Science, 1982 |g 87(2018), Seite 22-43 |h Online-Ressource |w (DE-627)30665976X |w (DE-600)1500496-X |w (DE-576)081986394 |x 0261-5606 |7 nnas |a Current account dynamics and the housing cycle in Spain |
| 773 | 1 | 8 | |g volume:87 |g year:2018 |g pages:22-43 |g extent:22 |a Current account dynamics and the housing cycle in Spain |
| 856 | 4 | 0 | |u https://doi.org/10.1016/j.jimonfin.2018.05.007 |x Verlag |x Resolving-System |z lizenzpflichtig |3 Volltext |
| 856 | 4 | 0 | |u https://www.sciencedirect.com/science/article/pii/S0261560618303267 |x Verlag |z lizenzpflichtig |3 Volltext |
| 951 | |a AR | ||
| 992 | |a 20210301 | ||
| 993 | |a Article | ||
| 994 | |a 2018 | ||
| 998 | |g 1024970523 |a Rüth, Sebastian |m 1024970523:Rüth, Sebastian |d 180000 |d 181000 |e 180000PR1024970523 |e 181000PR1024970523 |k 0/180000/ |k 1/180000/181000/ |p 3 |y j | ||
| 999 | |a KXP-PPN1750009579 |e 3879520186 | ||
| BIB | |a Y | ||
| SER | |a journal | ||
| JSO | |a {"name":{"displayForm":["Daniel Maas, Eric Mayer, Sebastian K. Rüth"]},"origin":[{"dateIssuedKey":"2018","dateIssuedDisp":"30 May 2018"}],"id":{"doi":["10.1016/j.jimonfin.2018.05.007"],"eki":["1750009579"]},"physDesc":[{"extent":"22 S."}],"relHost":[{"origin":[{"publisherPlace":"Amsterdam [u.a.]","dateIssuedDisp":"1982-","publisher":"Elsevier Science","dateIssuedKey":"1982"}],"id":{"eki":["30665976X"],"zdb":["1500496-X"],"issn":["0261-5606"]},"physDesc":[{"extent":"Online-Ressource"}],"title":[{"title_sort":"Journal of international money and finance","title":"Journal of international money and finance"}],"pubHistory":["1.1982 -"],"part":{"year":"2018","pages":"22-43","volume":"87","text":"87(2018), Seite 22-43","extent":"22"},"disp":"Current account dynamics and the housing cycle in SpainJournal of international money and finance","note":["Gesehen am 19.03.14"],"type":{"bibl":"periodical","media":"Online-Ressource"},"recId":"30665976X","language":["eng"]}],"person":[{"roleDisplay":"VerfasserIn","display":"Maas, Daniel Peter","role":"aut","family":"Maas","given":"Daniel Peter"},{"family":"Mayer","given":"Eric","roleDisplay":"VerfasserIn","display":"Mayer, Eric","role":"aut"},{"display":"Rüth, Sebastian","roleDisplay":"VerfasserIn","role":"aut","family":"Rüth","given":"Sebastian"}],"title":[{"title_sort":"Current account dynamics and the housing cycle in Spain","title":"Current account dynamics and the housing cycle in Spain"}],"type":{"bibl":"article-journal","media":"Online-Ressource"},"note":["Gesehen am 01.03.2021"],"language":["eng"],"recId":"1750009579"} | ||
| SRT | |a MAASDANIELCURRENTACC3020 | ||