431 International Capital Flows and House Prices: Theory and Evidence Jack Favilukis David Kohn Sydney C. Ludvigson Stijn Van Nieuwerburgh Jack Favilukis is a lecturer of finance at the London School of Economics. David Kohn is a Ph.D. student in economics at New York University. Sydney C. Ludvigson is a professor of economics at New York University, and a research associate of the National Bureau of Economic Research. Stijn Van Nieuwerburgh is a professor of finance and director of the Center for Real Estate Finance Research at Stern School of Business at New York University, and a research associate of the National Bureau of Economic Research. Keywords: housing boom and bust, global savings glut, foreign capital flows. JEL:F20,F32,G12,G21 First draft: August 1, 2011. Prepared for the National Bureau of Economic Research Housing and the Financial Crisis Conference, November 17-18, 2011, Cambridge, MA. We are grateful to seminar participants at the NBER Housing and Financial Crisis conference November 2011, the HULM conference April 2012, and to John Driscoll, Victoria Ivashina, Steven Laufer, and Nikolai Roussanov for helpful comments and to Atif Mian and Amir Sufi for data. For acknowledgments, sources of research support, and disclosure of the authors’ material financial relationships, if any, please see http://www.nber.org/chapters/c12626.ack.
International Capital Flows and House Prices: Theory and Evidence
Jul 05, 2023
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