01701cas a2200265 a 4500 AALejournalIMF005395 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451871050 1018-5941 BD-DhAAL BD-DhAAL Iossifov, Plamen. Interest Rate Elasticity of Residential Housing Prices / Plamen Iossifov, Martin Cihak, Amar Shanghavi. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We examine the interest rate elasticity of housing prices, advancingthe empirical literature in two directions. First, we take a commonly used cross-country panel dataset and evaluate the housing price equation using a consistent estimator in the presence of endogenous explanatory variables and a lagged dependent variable. Second, we carry-out a novel analysis of determinants of residential housing prices in a cross-section of countries. Our results show that the short-term interest rate, and hence monetary policy, has a sizable impact on residential housing prices. Mode of access: Internet Cihak, Martin. Shanghavi, Amar. IMF Working Papers; Working Paper ; No. 2008/247 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/247/001.2008.issue-247-en.xml IMF e-Library