Table of contents

  1. Front Matter
    Pages i-xvi
  2. The Rise of Major Cities: Causes and Consequences

    1. Front Matter
      Pages 1-1
    2. Lisette van Doorn, Amanprit Arnold, Elizabeth Rapoport
      Pages 3-13 Open Access
    3. Jamie Ratcliff
      Pages 15-21 Open Access
    4. Rob Nijskens, Melanie Lohuis
      Pages 23-35 Open Access
  3. Is There a Bubble in Major Cities?

    1. Front Matter
      Pages 37-37
    2. Stijn Claessens, Jochen Schanz
      Pages 39-49 Open Access
    3. John Muellbauer
      Pages 51-62 Open Access
    4. Laurent Clerc
      Pages 63-81 Open Access
    5. Hites Ahir, Prakash Loungani
      Pages 83-95 Open Access
  4. Housing Supply in Urban Areas

    1. Front Matter
      Pages 97-97
    2. Edward L. Glaeser
      Pages 99-108 Open Access
    3. Albert Saiz
      Pages 109-119 Open Access
    4. Laurens Ivens
      Pages 121-127 Open Access
    5. Kjersti Næss Torstensen, Kasper Roszbach
      Pages 129-139 Open Access
    6. Bahar Öztürk, Dorinth van Dijk, Frank van Hoenselaar, Sander Burgers
      Pages 141-152 Open Access
  5. Policy Responses

    1. Front Matter
      Pages 153-153
    2. Kajsa Ollongren
      Pages 155-158 Open Access
    3. Marco Lo Duca, Sergio Nicoletti-Altimari
      Pages 159-168 Open Access
    4. Grégory Claeys, Konstantinos Efstathiou, Dirk Schoenmaker
      Pages 169-179 Open Access
    5. Ho Soon Shin, Hyun Chang Yi
      Pages 181-194 Open Access
    6. Michele Bullock, David Orsmond
      Pages 195-205 Open Access
    7. Christian Lennartz, Barbara Baarsma, Nic Vrieselaar
      Pages 207-221 Open Access

About this book


This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.
This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.


Open Access Urbanization Housing Markets Mortgage Credit Macroprudential Policy City Housing Bubble Housing Supply and Demand House Prices Housing Investment Financial Stability

Editors and affiliations

  • Rob Nijskens
    • 1
  • Melanie Lohuis
    • 2
  • Paul Hilbers
    • 3
  • Willem Heeringa
    • 4
  1. 1.De Nederlandsche BankAmsterdamThe Netherlands
  2. 2.De Nederlandsche BankAmsterdamThe Netherlands
  3. 3.De Nederlandsche BankAmsterdamThe Netherlands
  4. 4.De Nederlandsche BankAmsterdamThe Netherlands

Bibliographic information