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21/11/2005 : Workshop : Housing and mortgage markets and the EU economy

Brussels, 21 November 2005


The goal of the workshop was to bring together researchers, policy makers and market representatives in order to explore how housing and mortgage markets impact on economic performance in the EU and to derive possible implications for macro and microeconomic policies.


Programmeenpdf(22 kB) Choose translations of the previous link  (pdf file 25 kb)
The workshop was organised around three sessions and a panel discussion with a general discussion at the end of each session.

Session 1: Macro-linkages and transmission channels
Session 2: Determinants of house prices
Session 3: Evolving mortgage market structures
Session 4: Panel discussion on micro- and macroeconomic policy implications.


Contributions. Copyright with the authors


  • Nathalie Girouard (OECD): Housing markets, wealth and the business cycle - presentation english textpdf(77 kB) Choose translations of the previous link  (pdf file 70 kb) and Paper english textpdf(306 kB) Choose translations of the previous link  (pdf file 300 kb)
  • Joachim Keller (ECB): Estimating housing and financial wealth effects - presentation) english textpdf(442 kB) Choose translations of the previous link  (pdf files 423 kb) CESifo Working Paper No. 1443, April 2005 english textpdf(842 kB) Choose translations of the previous link  (pdf file 820 kb) and ECB Occasional Paper No. 29, June 2005pdf
  • Elmer Sterken (Professor of monetary economics, University of Groningen): A multi-country analysis on the response of the economies to shocks in housing and equity prices -presentation english textpdf(403 kB) Choose translations of the previous link  (pdf file 380 kb) and Paper english textpdf(391 kB) Choose translations of the previous link  (pdf file 380 kb)
  • Marco Terrones (IMF): House prices, interest rates and macroeconomic fluctuations: international evidence - presentation english textpdf(135 kB) Choose translations of the previous link  (pdf file 120 kb)
  • Kostas Tsatsaronis (BIS): What drives housing price dynamics: cross-country evidence - presentation english textpdf(636 kB) Choose translations of the previous link  (pdf file 610 kb) and paper in BIS Quarterly Review, March 2004 (external link)pdf
  • Michael Ball (Professor of urban and property economics, University of Reading Business School): Recent housing market performance in Europe: correlations, causes and consequences (presentation) english textpdf(75 kB) Choose translations of the previous link  (pdf file 46 kb)
  • Patrick McGuire (BIS): Twin peaks in equity and housing prices -presentation english textpdf(395 kB) Choose translations of the previous link  (pdf file 375 kb) and paper in BIS Quarterly Review, March 2004 (external link)pdf
  • Debora Revoltella and Fabio Mucci (Unicredit Group): Household lending markets in the enlarged Europe - presentation english textpdf(637 kB) Choose translations of the previous link  (pdf file 615 kb)
  • Michael Nadler (Assistant Professor of Real Estate Development and Real Estate Finance, University of Technology Kaiserslautern): Evaluating housing finance systems -presentation english textpdf(846 kB) Choose translations of the previous link  (pdf file 830 kb). Paper of January 2005 english textpdf(158 kB) Choose translations of the previous link  (pdf file 160 kb) and link to UNECE Study, 2005 (external link)pdf
  • Harsha Shewaram (DG MARKT): The Green Paper on Mortgage Credit in the EU (DG Markt)
  • Richard Johnson (London Economics): The costs and benefits of EU mortgage market integration - presentation english textpdf(56 kB) Choose translations of the previous link  (pdf file 40 kb) and studypdf Choose translations of the previous link  (DG Markt)
  • Hans-Joachim Duebel (Finpolconsult.de): Macro implications of structural idiosyncrasy of EU mortgage markets -presentation english textpdf(381 kB) Choose translations of the previous link  (pdf file 335 kb)

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