01859cas a2200277 a 4500 AALejournalIMF006108 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451873788 1018-5941 BD-DhAAL BD-DhAAL Tamirisa, Natalia. Three Cycles : Housing, Credit, and Real Activity / Natalia Tamirisa, Alain Kabundi, Deniz Igan, Francisco Nadal De Simone. Washington, D.C. : International Monetary Fund, 2009. 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 characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in the short to medium term the relationship varies across countries. Interest rates tend to lag other cycles at all time horizons. While global factors are important, the U.S. business cycle, house price cycle and interest rate cycle generally lead the respective cycles in other countries over all time horizons, while the U.S. credit cycle leads mainly over the long term. Mode of access: Internet Igan, Deniz. Kabundi, Alain. Nadal De Simone, Francisco. IMF Working Papers; Working Paper ; No. 2009/231 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/231/001.2009.issue-231-en.xml IMF e-Library