data for the RPPI since taxation data are unreliable in respect of reported transaction prices, and the State Bank of Vietnam (SBV) does not collect loan level mortgage data. 2. Reliable property price indexes and other indicators of real estate markets are critical ingredients for financial stability policy analysis . The indexes are used by policy makers as an input into the design of macroprudential policies, that is, those policies aiming to reduce systemic risks arising from “excessive” financial procyclicality (such as asset bubbles). RPPIs are also used by
CR as of 1995 and the counties are tracked over time. The CR measure has declined over time nationally, suggesting increasingly competitive local mortgage markets in the U.S. However, the relative ranking of CR across U.S. counties has remained the same over the years. B. Mortgage and Other Economic Data Loan-level mortgage data are based on the HMDA database, which records almost all mortgage loan applications between 2000 and 2005. For each loan application in a given year, the following information is recorded: the loan amount, the income of the
soundness, as well as to IMF surveillance . The BI compiles and disseminates a RPPI based on data collected from surveys of major developers. There is scope to build upon improvements to the survey that were introduced in 2016 by redeveloping the weighting of component indexes to the national total . In the short-term, the authorities should assess the potential for using mortgage data to compile weights, based on the aggregated value of mortgage drawdowns in different regions and for different property types. In the longer-term, it might be possible to use taxation
strategy proceeds as follows. Using comprehensive mortgage data from 2005 to 2008 that we match with bank balance sheet data, we examine whether wholesale funded banks decreased their supply of mortgage credit more than retail funded banks. Two sources of identifying variations allow us to answer this question: the time variation in overall market liquidity and the cross-sectional variation in the core deposit to assets ratio, a commonly used measure of the extent to which a bank is funded through retail deposits. We use the data on bank mortgage lending decisions
as countries compete to protect their tax bases and attract tangible investments by US multinationals. At the same time the territorial system makes it more attractive to invest in other countries offering lower tax rates. While the GILTI may in some respects mitigate the increased pressure for tax competition, the FDII is likely to further intensify it. This box was prepared by Suchanan Tambunlertchai. Reference Bilyk , Olga , Alexander Ueberfeldt , and Yang Xu . 2017 . “ Analysis of Household Vulnerabilities Using Loan-Level Mortgage