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E-book

Title Belgium : selected issues
Published Washington, D.C. : International Monetary Fund, ©2015

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Description 1 online resource (42 pages) : color illustrations
Series IMF country report ; no. 15/71
IMF country report ; no. 15/71.
Summary This paper analyses the risks of a rapid house price adjustment in Belgium and the potential repercussions for the Belgian economy. The paper argues that current house prices are closer to their equilibrium than simple historical ratios would suggest and that given the moderate overvaluation, a gradual and limited adjustment seems a plausible scenario. Strong household balance sheets, a seemingly well-managed mortgage market and various institutional characteristics reduce the risk of an abrupt correction. Given that historical house price changes have had moderate macro-economic effects - with the exception of residential investment - the repercussions of a gradual decline seem manageable. *There is a continued need for vigilance and policy coordination. Recent changes in macro-prudential and fiscal policy seem appropriate to make the housing market safer and reduce untargeted fiscal expenditures. To assure that the price adjustment remains orderly and does not lead to overshooting, future policy changes should be gradual and coordinated among different institutions. A well communicated housing strategy could help to avoid price mis-alignments in the future
Notes "Prepared by Johannes Eugster, Jean-Jacques Hallaert, and Sylwia Nowak"--Page 2 of pdf
"March 2015."
"February 12, 2015"--Page 2 of pdf
Bibliography Includes bibliographical references
Notes Online resource; title from pdf title page (IMF Web site, viewed March 18, 2015)
Subject International Monetary Fund -- Belgium
SUBJECT International Monetary Fund. fast (OCoLC)fst00556666
Subject Housing -- Prices -- Belgium
Fiscal policy -- Belgium
Financial risk management -- Belgium
Crisis management -- Belgium
Unemployment -- Belgium
Pensions -- Belgium
Crisis management.
Financial risk management.
Fiscal policy.
Housing -- Prices.
Pensions.
Unemployment.
Belgium.
Form Electronic book
Author Eugster, Johannes.
Hallaert, Jean-Jacques.
Nowak, Sylwia.
International Monetary Fund.
ISBN 1498352081
9781498352086
1498317820
9781498317825
1498323936
9781498323932
ISSN 1934-7685