Not only did the global financial crisis bring an end to the benign macroeconomic conditions of the 'great moderation', it exposed the fragility of highly leveraged mortgage markets. The importance of attending to solvency as well as liquidity has been rediscovered (eg Gjerstad and Smith, 2014). For many nations, the long-term effects of austerity and lost output will be felt for many years to come. For this special issue we invited papers that reflect on this housing market reversal from a national and comparative European perspective. The issue combines a mix of conceptual, empirical and policy papers presenting analyses from individual European countries. The papers are less about housing and the origins of the GFC and focus more on consequences for local and national markets. They look at micro-processes but also more macro- and policy dimensions.
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ISBN-13
978-1-78441-610-2 (9781784416102)
Schweitzer Klassifikation
