Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2014 | 7 | nr 16 | 93--112
Tytuł artykułu

Demand, supply, and policy : trends on the real estate market in Spain in the period 2000-2008

Treść / Zawartość
Warianty tytułu
Języki publikacji
The paper analyses the factors that influenced the emergence of the bubble of the Spanish real estate market in the previous decade. It takes into account demand and supply factors, as well as discusses the ECB's monetary policy in the context of Spain. It also provides an overview of dynamic provisioning, one of the early macro-prudential tools. (original abstract)
Opis fizyczny
  • Szkoła Główna Handlowa w Warszawie
  • Ahrend R., Cournède B., Price R., (2008), Monetary Policy, Market Excesses and Financial Turmoil, OECD Economics Department Working Papers, No. 597. OECD Publishing.
  • Arghyrou M. G., (2008), Monetary policy before and after the euro: Evidence from Greece, "Empirical Economics", Vol. 36, No. 3, June.
  • Arghyrou M. G., Gadea, M. D., (2008), The single monetary policy and domestic macro-fundamentals: Evidence from Spain, "Cardiff Economics Working Papers", E2008/23. Cardiff University
  • Balassa B., (1964), The purchasing power parity doctrine: a reappraisal, "Journal of Political Economy", Vol. 72.
  • Balcerowicz L., (2012), On the Prevention of Crises in the Eurozone. Paper presented at the European University Conference 'Governance for the Eurozone: Integration or Disintegration', Florence, April 26.
  • Bank of Spain (2003), Annual report 2002, Banco de España. Madrid.
  • Beynet P., Fuentes A., Gillingham R., Hagemann R., (2011), Restoring Fiscal Sustainability in Spain, OECD Economics Department Working Papers, No. 850. OECD Publishing.
  • Bień A., (1988), Optymalny obszar walutowy. Teoria i praktyka. PWE. Warszawa.
  • Bini-Smaghi L., (2011), Eurozone, European crisis & policy responses. Speech at the Goldman Sachs Global Macro Conference, Hong Kong, 22 February
  • Carney M., (2009), Some consideration on using monetary policy to stabilize economic activity, Remarks at Jackson Hole conference, Wyoming, 22 August
  • Caruana J., (2005), Monetary policy, financial stability and asset prices, "Occasional Papers", 0507. Bank of Spain.
  • Catalán M., Moretti M., (2006), Regulation, Supervision, and Governance of the Spanish Cajas. Spain: FSAP Technical Note, "IMF Country Report", Vol. 215, No. 6.
  • CEBS (2010), 2010 EU wide stress testing documents. Available online at
  • Clarida R., Gali J., Gertler M., (1998), Monetary Policy Rules in Practice: Some International Evidence "European Economic Review", Vol 42
  • Fernandez de Lis S., García-Herrero A., (2010), Dynamic Provisioning: Some Lessons from Existing Experiences, ADBI Working Paper, No. 218, May 26.
  • Flaig G., Wollmershaeuser T., (2007), Does the Euro-Zone Diverge? A Stress Indicators for Analyzing Trends and Cycles in Real GDP and Inflation, CESifo Working Paper, No 1937
  • Gallin J., (2003), The long-run relationship between house prices and income: evidence from local housing markets, "United States Federal Reserve Board".
  • García-Herrero A., Fernandez de Lis S., (2008), The Housing Boom and Bust in Spain: Impact of the Securitisation Model and Dynamic Provisioning, "Housing Finance International", September 2008
  • Garriga C., (2010), The Role of Construction in the Housing Boom and Bust in Spain, "FEDEA Working Papers", September
  • Hayo B., Hofmann B., (2006), Comparing monetary policy reaction functions: ECB versus Bundesbank "Empirical Economics", Vol 31
  • Jarociński M., Smets F. R., (2008), House Prices and the Stance of Monetary Policy, "Federal Reserve Bank of St. Louis Review", Vol. 90, July/August.
  • Karaś M., (2013), FFR Level in the Period 2000-2007 and the Emergence of the Asset Price Bubble on the US Real Estate Market, "Ekonomia", Vol. 33.
  • Kenen P., (1969), The theory of optimum currency areas: An eclectic View, in: Monetary Problems of the International Economy, ed. R. Mundell, A. Swoboda, University of Chicago Press, Chicago.
  • Kim K., Suh S., (1993), Speculation and price bubbles in the Korean and Japanese real estate markets, "Real Estate Finance Econ", No. 6.
  • Lopez-Garcia M.A., (2004), Housing, prices and tax policy in Spain, "Spanish Economic Review", No 6
  • Maclennan D., Muellbauer J., Stephens M., (1999), Asymmetries in Housing and Financial Market Institutions and EMU, CEPR Discussion Papers, Vol 2062
  • McKinnon R., (1963), Optimum currency areas, "American Economic Review", Vol 53
  • McQuinn K., O'Reilly G., (2007), A Model of Cross-Country House Prices, Research Technical Papers / Central Bank of Ireland, No. 5/RT/07,.
  • Mundell R. A., (1961), A theory of optimal currency areas, "American Economic Review", Vol 51
  • Muellbauer J., (2007), Housing and Personal Wealth in a Global Context, "Working Papers UNU-WIDER" Research Paper, World Institute for Development Economic Research (UNU-WIDER)
  • OECD (2005), Economic Survey of Spain 2005, "OECD Policy Brief", March.
  • Rogers J. H., (2007), Monetary union, price level convergence, and inflation: how close is Europe to the United States?, "Journal of Monetary Economics", Vol. 54.
  • Salmon K., (2010), Boom to bust - reconstructing the Spanish economy, "International Journal of Iberian Studies", Vol. 23, No. 1.
  • Samuelson P.A., (1964), Theoretical notes on trade problems, "Review of Economics and Statistics", Vol 46
  • Sławiński A., (2010), Joining the euro zone: From the perspective of emerging Europe countries, Folia Oeconomica, No 239
  • Taylor J. B., (2010), Zrozumieć kryzys finansowy, Wydawnictwo Naukowe PWN, Warszawa
  • Wicksell K., (1898), Interest and prices, London, Macmillan, 1936.
  • Wilmarth A.E., (2002), The Transformation of the U.S. Financial Services Industry, 1975-2000: Competition, Consolidation and Increased Risks, "University of Illinois Law Review", No. 2, May.
  • Wyplosz C., (2006), European Monetary Union: the dark sides of a major success, "Economic Policy", CEPR & CES & MSH, Vol. 21, No. 46
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.