IMF Multi-Country Report by International Monetary Fund. European Dept.

Full Title: IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain
Author/Editor(s): International Monetary Fund. European Dept
ISBN: 1498351514, 9781498351515
Publisher: International Monetary Fund
Published Place: Washington, D.C.
Published/Copyright Year: 2015
Language: English
Series: IMF Staff Country Reports: Country Report No. 15/1
IMF ELibrary
Number of pages: 1 online resource (27 pages)
Categories:
Business Cycles
Cross Country Analysis
Debt
Debt Restructuring
Housing Prices
Private Sector
Tax Reforms
Denmark
Ireland
Netherlands
Spain


Content:
This report examines the experiences of four European countries that have had large house-price declines in recent years. In particular, it examines the experiences of Denmark, Ireland, the Netherlands, and Spainfour countries in which the house-price cycle has been especially large and that share a similar institutional environment (a common monetary policy and the EU's institutional framework)with a view to exploring how policies can best support economic recovery in the wake of a house-price bust. The paper draws on and synthesizes related Selected Issues papers that are being or have been drafted as part of the 2014 Article IV consultations with these countries. These countries' experiences share similarities, but also important differences. Shocks to house prices, unemployment, and bank balance sheets were most severe in Ireland and Spain, reflecting in part a higher amplitude of residential construction. However, the boom- bust cycle has, together with other shocks, left all four countries facing significant output gaps, as well as elevated levels of private-sector debt that pose headwinds for growth. Promoting recovery following a house-price bust requires a multi-pronged strategy. Large house-price busts can leave countries facing wide output gaps, a highly indebted private sector, and weaker bank balance sheets. Addressing these problems simultaneously can be challenging, as efforts often involve trade-offs (e.g., faster deleveraging can widen output gaps). A careful and multi-pronged strategy is thus required to minimize trade-offs and accelerate sustainable recovery. Important progress has been made in this regard in all four countries.

Electronic Resources:
http://hdl.library.upenn.edu/1017.12/1521923

ISBNPlus ID: UPE.BD102.21656-11-2208696
Form: Nonfiction
Released Date: 20151203

Download BiBTeX of this book (.bib)
@book{isbnplus9781498351515,
 title={IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain},
 author={International Monetary Fund. European Dept},
 isbn={9781498351515},
 series={IMF Staff Country Reports: Country Report No. 15/1},
 url={http://isbnplus.org/9781498351515},
 year={2015},
 publisher={International Monetary Fund},
 address={Washington, D.C.}
}
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Download EndNote of this book (.enw)
%0 Book
%T IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain
%A International Monetary Fund. European Dept
%@ 9781498351515
%U http://isbnplus.org/9781498351515
%D 2015
%I International Monetary Fund
%C Washington, D.C.
Download 9781498351515.enw
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TY  - BOOK
T1  - IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain
A1  - International Monetary Fund. European Dept
SN  - 9781498351515
T3  - IMF Staff Country Reports: Country Report No. 15/1
UR  - http://isbnplus.org/9781498351515
Y1  - 2015
PB  - International Monetary Fund
CY  - Washington, D.C.
ER  - 
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APA Style:
International Monetary Fund. European Dept (2015). IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain. Washington, D.C.: International Monetary Fund.

MLA Style:
International Monetary Fund. European Dept. IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain. Washington, D.C.: International Monetary Fund, 2015. Print.

Chicago Style:
International Monetary Fund. European Dept. IMF Multi-Country Report: Housing Recoveries Cluster Report On Denmark, Ireland, Kingdom Of The Netherlandsthe Netherlands, And Spain. Washington, D.C.: International Monetary Fund, 2015.