The DOI matches its Crossref record; 45 of the 45 references it cites were found in a registry or an index.
The great mortgaging: housing finance, crises and business cycles
Abstract
This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the course of the twentieth century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have risen substantially in many countries. Financial stability risks have been increasingly linked to real estate lending booms, which are typically followed by deeper recessions and slower recoveries. Housing finance has come to play a central role in the modern macroeconomy.
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Cites
(2001) · RePEc: Research Papers in Economics · Cited by 27,577
The Twin Crises: The Causes of Banking and Balance-of-Payments Problems
Kaminsky, G. L., & Reinhart, C. M. (1999) · American Economic Review · doi:10.1257/aer.89.3.473 · Cited by 4,978
This Time Is Different: Eight Centuries of Financial Folly
Reinhart, C. M., & Rogoff, K. S. (2009) · Princeton University Press eBooks · doi:10.1515/9781400831722 · Cited by 3,390
Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870–2008
Schularick, M., & Taylor, A. M. (2012) · American Economic Review · doi:10.1257/aer.102.2.1029 · Cited by 2,647
Self-citationLane, P. R., & Milesi-Ferretti, G. M. (2007) · Journal of International Economics · doi:10.1016/j.jinteco.2007.02.003 · Cited by 2,513
This Time Is Different: Eight Centuries of Financial Folly
REINHART, C. M., & ROGOFF, K. S. (2009) · Princeton University Press eBooks · doi:10.2307/j.ctvcm4gqx · Cited by 2,357
Lunceford, J. K., & Davidian, M. (2004) · Statistics in Medicine · doi:10.1002/sim.1903 · Cited by 1,674
Institutional causes, macroeconomic symptoms: volatility, crises and growth
Acemoglu, D., Johnson, S., Robinson, J., & Thaicharoen, Y. (2003) · Journal of Monetary Economics · doi:10.1016/s0304-3932(02)00208-8 · Cited by 1,494
Growth Dynamics: The Myth of Economic Recovery
Cerra, V., & Saxena, S. C. (2008) · American Economic Review · doi:10.1257/aer.98.1.439 · Cited by 1,356
Capital is Back: Wealth-Income Ratios in Rich Countries 1700–2010 *
Piketty, T., & Zucman, G. (2014) · The Quarterly Journal of Economics · doi:10.1093/qje/qju018 · Cited by 1,344
Cited by
Household Debt and Business Cycles Worldwide*
Mian, A., Sufi, A., & Verner, E. (2017) · The Quarterly Journal of Economics · doi:10.1093/qje/qjx017 · Cited by 756
Going to extremes: Politics after financial crises, 1870–2014
Funke, M., Schularick, M., & Trebesch, C. (2016) · European Economic Review · doi:10.1016/j.euroecorev.2016.03.006 · Cited by 616
Self-citationThe Rate of Return on Everything, 1870–2015*
Jordà, Ò., Knoll, K., Kuvshinov, D., Schularick, M., & Taylor, A. M. (2019) · The Quarterly Journal of Economics · doi:10.1093/qje/qjz012 · Cited by 579
Self-citationMacrofinancial History and the New Business Cycle Facts
Jordà, Ò., Schularick, M., & Taylor, A. M. (2017) · NBER Macroeconomics Annual · doi:10.1086/690241 · Cited by 486
Self-citationNo price like home: global house prices, 1870–2012
Knoll, K., Schularick, M., & Steger, T. (2017) · American Economic Review · doi:10.1257/aer.20150501 · Cited by 467
Self-citation
Metadata
- Authors
- Jordà, Ò., Schularick, M., & Taylor, A. M.
- Venue
- Economic Policy
- Publisher
- Oxford University Press (OUP)
- Published
- 2016-01
- Volume
- 31
- Issue
- 85
- Pages
- 107-152
- ISSN
- 0266-4658 (ISSN-L)
- 1468-0327
- OpenAlex
- W3021581513
- Cited by
- 521
- References
- 45
- FWCI
- 96.08
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
