Housing Markets in Europe

Part I Introductory Lecture: Housing in DSGE Models: Findings and New Directions

Part II Housing and the Business Cycles: Country Analysis: Housing and the Macroeconomy: The Italian Case

- Cyclical Relationships Between GDP and Housing Market in France: Facts and Factors at Play

- Does Housing Really Lead the Business Cycle in Spain?- Cross-Country Analysis: Housing Cycles in the Major Euro Area Countries

- Common Business and Housing Market Cyles in the Euro Area from a Multivariate Decomposition

- The International Transmission of House Price Shocks

Part III MacroeconomicModels of Housing: The 'Housing Bubble' and Financial Factors: Insights from a Structural Model of the French and Spanish Residential Markets

- Trend and Cycle Features in German Residential Investment Before and After Reunification

- User Costs of Housing when Households Face a Credit Constraint: Evidence for Germany

- Causes andWelfare Consequences of Real Estate Price Appreciation

Part IV Wealth Effects: Wealth Effects on Private Consumption: The French Case

- An Assessment of Housing and Financial Wealth Effects in Spain: Aggregate Evidence on Durable and Non-durable Consumption

- The Effects of Housing and FinancialWealth on Personal Consumption: Aggregate Evidence for Italian Households

- Housing and Portfolio Choices in France

Part V Housing, Economic Policy and Financial Stability

- House price Boom/Bust Cycles: Identification Issues and Macroprudential Implications

- Impact of Fiscal Policy on Residential Investment in France

Olivier de Bandt is associate professor of economics at the University of Paris X Nanterre. He is currently Director of Business Conditions and Macroeconomic Forecasting at the Bank of France. Olivier de Bandt is also the co-editor with Heinz Hermann and Guiseppe Parigi of "Convergence or Divergence in Europe?" published by Springer Verlag.