This chapter surveys the literature on housing in macroeconomics. We first collect facts on
house prices and quantities in both the time series and the cross section of households and …

In the literature, one finds various explanations for the rise of financialized capitalism. In the
different strands of financialization literature, housing either plays a minor role or is simply …

We provide a comprehensive empirical characterization of the linkages between key
macroeconomic and financial variables around business and financial cycles, for 21 OECD …

We document three facts concerning how the structure of housing finance affects the
monetary transmission mechanism: first, the characteristics of residential mortgage markets …

This paper surveys the theoretical and empirical literature on the macroeconomic
implications of financial imperfections. It focuses on two major channels through which …

The major economic story of the last decade has been the surge and collapse of house
prices worldwide. Yet political economists have had little to say about how this critical …

House prices in many advanced countries have moved in tandem during the past decade.
They first increased unusually rapidly prior to the global financial crisis, reaching in some …

In this paper, we first compare house price cycles in advanced and emerging economies
using a new quarterly house price data set covering the period 1990–2012. We find that …

Abstract The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing
our understanding of macrofinancial linkages, the two-way interactions between the real …

I investigate the effect of wealth on consumption in a new dataset with financial and housing
wealth from 16 countries. The baseline estimation method based on the sluggishness of …