Tax Incentives and House Price Volatility in the Euro Area [E-Book]: Theory and Evidence / Paul van den Noord
A problem associated with inflation differentials in monetary unions is that the "crowding-in" effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house price...
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Full text |
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Personal Name(s): | van den Noord, Paul. |
Imprint: |
Paris :
OECD Publishing,
2003
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Physical Description: |
17 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/410243688730 |
Series Title: |
/* Depending on the record driver, $field may either be an array with
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OECD Economics Department Working Papers ;
356 |
Keywords: |
Economics Euro Area |
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520 | 3 | |a A problem associated with inflation differentials in monetary unions is that the "crowding-in" effect of lower real interest rates associated with high inflation will initially outweigh the loss of competitiveness (crowding out). The crowding-in effect may produce volatility in house prices, especially if tax regimes favour the occurrence of bubbles. This paper shows that this is the case notably in the smaller countries of the euro area, and this could explain the persistence of inflation differentials in the area to some extent ... | |
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