Employed data for dissertation.docx (31.55 kB)
International Contagion in Housing Markets
In this doctoral dissertation the existence and impact of contagion in housing markets is researched.
The motivation for this subject lies in the gradual increase in international house price synchronization over time and the observation of certain events (such as the US housing bust in 2006-7) that seems to have triggered similar house price behavior regionally and globally. In order to investigate the phenomenon of contagion, its existence and, if so, extent between housing markets during boom and/or bust phases is empirically examined. After statistically confirming contagion and its impact, it is empirically assessed which financial policy measures could be succesfully in moderating contagion (and spillover) effects.
The motivation for this subject lies in the gradual increase in international house price synchronization over time and the observation of certain events (such as the US housing bust in 2006-7) that seems to have triggered similar house price behavior regionally and globally. In order to investigate the phenomenon of contagion, its existence and, if so, extent between housing markets during boom and/or bust phases is empirically examined. After statistically confirming contagion and its impact, it is empirically assessed which financial policy measures could be succesfully in moderating contagion (and spillover) effects.
In terms of scope, the present research focuses on contagion from the US housing market to European OECD countries’ housing markets. In order to consider the contagion effect within country borders, this research also zooms in on the Netherlands and examines the existence and impact of contagion from Amsterdam to the rest of the Dutch regions.
