01646cas a2200253 a 4500 AALejournalIMF012131 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475505672 1018-5941 BD-DhAAL BD-DhAAL Igan, Deniz. Global Housing Cycles / Deniz Igan, Prakash Loungani. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (56 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 Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements. Empirical analysis shows that house price dynamics are mostly driven by income and demographics but fluctuations in these fundamentals and credit conditions can create deviations from the implied equilibrium path. We conclude with a discussion of the macroeconomic implications of house price corrections. Mode of access: Internet Loungani, Prakash. IMF Working Papers; Working Paper ; No. 2012/217 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/217/001.2012.issue-217-en.xml IMF e-Library