LEADER 06206oam 22013694 450 001 9910971230403321 005 20250426110656.0 010 $a9781475545142 010 $a1475545142 010 $a9781475573350 010 $a1475573359 035 $a(CKB)2670000000278862 035 $a(EBL)1606896 035 $a(SSID)ssj0000941878 035 $a(PQKBManifestationID)11614173 035 $a(PQKBTitleCode)TC0000941878 035 $a(PQKBWorkID)10963833 035 $a(PQKB)10723699 035 $a(Au-PeEL)EBL1606896 035 $a(CaPaEBR)ebr10627083 035 $a(OCoLC)870245019 035 $a(IMF)WPIEE2012193 035 $a(IMF)WPIEA2012193 035 $a(MiAaPQ)EBC1606896 035 $aWPIEA2012193 035 $a(EXLCZ)992670000000278862 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aLatin America : $eVulnerabilities Under Construction? /$fLuis Cubeddu, Camilo Tovar Mora, Evridiki Tsounta 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (28 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 08$a9781475517590 311 08$a1475517599 311 08$a9781475505429 311 08$a1475505426 320 $aIncludes bibliographical references. 327 $aCover; Contents; I. Introduction; Figures; 1. Latin America: Mortgage and Housing Market Developments; II. Developments in The Mortgage Credit and Real Estate Sector; A. Mortgage Credit; B. Construction Activity; C. House Prices; III. Making the Most of Imperfect Data; A. Identifying Mortgage Booms; Tables; 1. Data Availability on Select Financial and Housing Sector Indicators; B. Identifying Housing Price Booms; 2. Determinants of Equilibrium House Prices: Chile, Colombia, Mexico, and Peru; 2. Actual and Estimated Real House Prices; 3. House Price Over/(under)valuation; Box 327 $a1. Colombia's Mortgage Crisis of the Late 1990's: A Cautionary Tale IV. The Household Debt Burden and Financial Balance Sheets; V. Conclusions and Policy Recommendations; References; Appendices; I. Data Definitions and Sources; II. Methodologies for Estimating Credit Booms and House Price Bubbles; III. Cointegration Tests 330 3 $aThis paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess whether (i) growth in mortgage credit is excessive compared to long-term trends; (ii) trends in house prices reflect changes in economic fundamentals; and (iii) the extent to which household and banking sector vulnerabilities could lead to potential fragilities. Although data limitations hamper a rigorous analysis of trends, our analysis suggests that while there are no imminent misalignments in the real estate and mortgage sectors, they could emerge if current trends persist. Strengthening supervision and addressing data gaps is thus critical to ensure adequate monitoring of risks and vulnerabilities in these sectors. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/193 606 $aMortgage loans$zLatin America 606 $aHousing$xPrices$zLatin America 606 $aBanks$2imf 606 $aCredit booms$2imf 606 $aCredit$2imf 606 $aDepository Institutions$2imf 606 $aEconomic Development: Urban, Rural, Regional, and Transportation Analysis$2imf 606 $aFinance$2imf 606 $aFinancial Institutions and Services: General$2imf 606 $aFinancial institutions$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aHousing prices$2imf 606 $aHousing Supply and Markets$2imf 606 $aHousing$2imf 606 $aIndustries: Financial Services$2imf 606 $aInfrastructure$2imf 606 $aMacroeconomics$2imf 606 $aMicro Finance Institutions$2imf 606 $aMonetary economics$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aMortgages$2imf 606 $aNational accounts$2imf 606 $aPrices$2imf 606 $aProperty & real estate$2imf 606 $aReal Estate Services$2imf 606 $aReal Estate$2imf 606 $aSaving and investment$2imf 607 $aColombia$2imf 615 0$aMortgage loans 615 0$aHousing$xPrices 615 7$aBanks 615 7$aCredit booms 615 7$aCredit 615 7$aDepository Institutions 615 7$aEconomic Development: Urban, Rural, Regional, and Transportation Analysis 615 7$aFinance 615 7$aFinancial Institutions and Services: General 615 7$aFinancial institutions 615 7$aFinancial Markets and the Macroeconomy 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aHousing prices 615 7$aHousing Supply and Markets 615 7$aHousing 615 7$aIndustries: Financial Services 615 7$aInfrastructure 615 7$aMacroeconomics 615 7$aMicro Finance Institutions 615 7$aMonetary economics 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aMortgages 615 7$aNational accounts 615 7$aPrices 615 7$aProperty & real estate 615 7$aReal Estate Services 615 7$aReal Estate 615 7$aSaving and investment 676 $a330.9389 700 $aCubeddu$b Luis$01812418 701 $aTovar Mora$b Camilo$01815938 701 $aTsounta$b Evridiki$01815939 801 0$bDcWaIMF 906 $aBOOK 912 $a9910971230403321 996 $aLatin America$94371569 997 $aUNINA