Reserve Bank of Australia

Conference – 2012

Property Markets and Financial Stability

20–21 August 2012

The theme of the joint conference between the Reserve Bank of Australia and the Bank for International Settlements in 2012 was ‘Property Markets and Financial Stability’. The conference brought together senior central bankers and leading academics to discuss important policy issues concerning property markets and financial stability. Discussions focused on several important topics, including measurement issues in property prices, housing finance, the effects of macroprudential policies, the management of banks' risks and securitisation.

Editors: Alexandra Heath (RBA), Frank Packer (Bank for International Settlements) and Callan Windsor (RBA)

A volume, containing the conference papers and discussions, was published on 11 December 2012. To order a hard copy of the volume, please complete the Publications Order Form.

Download the complete Volume [PDF 9.4M]

Contents

• Introduction HTML PDF 535K
  Alexandra Heath, Frank Packer and Callan Windsor
• Opening Remarks HTML PDF 479K
  Glenn Stevens
• Land and Housing Price Measurement in China HTML PDF 901K
  Yongheng Deng, Joseph Gyourko and Jing Wu
• Discussion HTML PDF 412K
  Haibin Zhu
• Developing Housing Finance Systems HTML PDF 711K
  Francis E Warnock and Veronica Cacdac Warnock
• Discussion HTML PDF 425K
  Joseph Gyourko
• When is a Housing Market Overheated Enough to Threaten Stability?John Muellbauer HTML PDF 1.0M
• General Discussion HTML PDF 541K
• Property Market Cycles as Paths to Financial Distress HTML PDF 739K
  Luci Ellis, Mariano Kulish and Stephanie Wallace
• Discussion HTML PDF 504K
  Christine Whitehead
• Securitisation and the Commercial Property Cycle HTML PDF 1.3M
  Frank Packer and Timothy Riddiough
• Discussion HTML PDF 480K
  Jie Gan
• Property Prices and Bank Risk-taking HTML PDF 996K
  Giovanni Dell'Ariccia
• Discussion HTML PDF 444K
  Piti Disyatat
• Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit HTML PDF 897K Kenneth Kuttner and Ilhyock Shim
• Discussion HTML PDF 422K
  Prasanna Gai
• Policy Panel HTML PDF 958K
  Carlos Araújo, Per Jansson, Tae Soo Kang and Kiyohiko G Nishimura
• Closing Remarks: Property Markets and Financial Stability – Issues and Interpretations HTML PDF 480K
  Stephen G Cecchetti
• Biographies of Contributors HTML PDF 482K
• Glossary HTML PDF 456K
• List of Conference Participants HTML PDF 422K

ISBN 978-0-9873620-3-2 (Print)
ISBN 978-0-9873620-4-9 (Online)