Housing loans and domestic credit in the Baltic States and Poland: Structural breaks and macroeconomic determinants

Apostoaie, C.-M., Percic, S., Cocriş, S., & Chirleşan, D. (2014). Research on the credit cycle and business cycle with a focus on ten states from Central, Eastern, and Southeastern Europe. Emerging Markets Finance & Trade, 50(4), 63-77. https://doi.org/10.2753/REE1540-496X5004S40410.2753/REE1540-496X5004S404 Search in Google Scholar

Aus, V., Kolbre, E., & Kahre, K. (2015). Drivers of Estonian housing market cycles. Research in Economics and Business: Central and Eastern Europe, 7(2). Retrieved from http://rebcee.eu/index.php/REB/article/view/79 Search in Google Scholar

Bai, J. & Perron, P. (1998). Estimating and testing linear models with multiple structural changes. Econometrica, 66(1), 47-78. https://doi.org/10.2307/299854010.2307/2998540 Search in Google Scholar

Bank for International Settlements. (n.d.). Real and Nominal Broad Effective Exchange Rates, retrieved from FRED, Federal Reserve Bank of St. Louis. Retrieved from fred.stlouisfed.org Search in Google Scholar

Bank of Latvia Statistical Database. (n.d.). Retrieved from https://statdb.bank.lv/lb/ Search in Google Scholar

Bank of Lithuania Statistical Database. (n.d.). Retrieved from https://www.lb.lt/lt/statistikos-duomenu-baze-2 Search in Google Scholar

Eesti Pank Statistics. (n.d.). Retrieved from https://www.eestipank.ee/en/statistics Search in Google Scholar

Hegerty, S. W. (2020). Do capital flows drive credit growth and consumption in Central and Eastern Europe? Post-Communist Economies, 31(1), 36-51. https://doi.org/10.1080/14631377.2018.146151610.1080/14631377.2018.1461516 Search in Google Scholar

Henilane, I. (2016). Review of housing mortgage lending policy practices in Latvia. Journal of Business Management, 10, 59-69. Search in Google Scholar

Hoffmann, A. (2010). An overinvestment cycle in Central and Eastern Europe. Metroeconomica, 61(4), 711-734. https://doi.org/10.1111/j.1467-999X.2010.04103.x10.1111/j.1467-999X.2010.04103.x Search in Google Scholar

International Financial Statistics [IFS]. (n.d.). Country Tables [Data File]. Washington, D.C.: International Monetary Fund. Retrieved from data.imf.org Search in Google Scholar

Ivanauskas, F., Eidukevičius, R., Marčinskas, A. & Galiniene, B. (2008). Analysis of the housing market in Lithuania. International Journal of Strategic Property Management, 12(4), 271-280. https://10.3846/1648-715X.2008.12.271-28010.3846/1648-715X.2008.12.271-280 Search in Google Scholar

Korzeniowska, A. M. (2019). Sources of financing of household debt in Poland. Folia Oeconomica Stetinensia, 19(2), 56-67. https://doi.org/10.2478/foli-2019-001310.2478/foli-2019-0013 Search in Google Scholar

Krušinskas, R. (2012). Research on housing bubbles in the capitals of the Baltic and Central Europe. Economics and Management, 17(2), 480-485. https://doi.org/10.5755/j01.em.17.2.216910.5755/j01.em.17.2.2169 Search in Google Scholar

Kulikauskas, D. (2016). Fundamental housing prices in the Baltic States: Empirical approach. Baltic Journal of Economics, 16(2), 53-80. https://doi.org/10.1080/1406099X.2016.117344610.1080/1406099X.2016.1173446 Search in Google Scholar

Lane, P. R., & Milesi-Ferretti, G. M. (2011). The cross-country incidence of the global crisis. IMF Economic Review, 59, 77-110. https://doi.org/10.1057/imfer.2010.1210.1057/imfer.2010.12 Search in Google Scholar

National Bank of Poland [NBP]. (n.d.). Statistics and indicators. Retrieved from https://www.nbp.pl/home.aspx?f=/statystyka/statystyka.html Search in Google Scholar

Phillips, P. C. B., & Perron, P. (1988). Testing for a unit root in time series regression. Biometrika, 75(2), 335-346. https://doi.org/10.2307/233618210.2307/2336182 Search in Google Scholar

Posedel, P. & Vizek, M. (2009). House price determinants in transition and EU-15 countries. Post-Communist Economies, 21(3), 327-343. https://doi.org/10.1080/1463137090309064010.1080/14631370903090640 Search in Google Scholar

Poskart, R. (2012). Changes in Poland’s housing loan market in 2004-2010. Nauki o Finansach. Financial Sciences, 1(10), 97-115. Search in Google Scholar

Reichenbachas, T. (2017). Credit-related shocks in VAR models: The case of Lithuania. Ekonomika/Economics, 96(3), 7-19.10.15388/Ekon.2017.3.11547 Search in Google Scholar

Sax, C., & Eddelbuettel, D. (2018). Seasonal adjustment by X-13ARIMA-SEATS in R. Journal of Statistical Software, 87(11), 1-17. https://doi.org/10.18637/jss.v087.i1110.18637/jss.v087.i11 Search in Google Scholar

Sims, C. A. (1980). Macroeconomics and reality. Econometrica, 48, 1-48. https://doi.org/10.2307/191201710.2307/1912017 Search in Google Scholar

Škare, M., Sinković, D., & Porada-Rochoń, M. (2019). Measuring credit structure impact on economic growth in Croatia Using (VECM) 1990-2018. Journal of Business Economics and Management, 20(2), 294-310. https://doi.org/10.3846/JBEM.2019.834410.3846/jbem.2019.8344 Search in Google Scholar

Zeileis, A., Leisch, F., Hornik, K., & Kleiber, C. (2002). strucchange: An R package for testing for structural change in linear regression models. Journal of Statistical Software, 7(2), 1-38. https://doi.org/10.18637/jss.v007.i0210.18637/jss.v007.i02 Search in Google Scholar

Zeileis, C., Kleiber, W. & Hornik, K. (2003). Testing and dating of structural changes in practice. Computational Statistics & Data Analysis, 44, 109-123. https://doi.org/10.1016/S0167-9473(03)00030-610.1016/S0167-9473(03)00030-6 Search in Google Scholar