... The asymmetry in the linkage between housing credit and house prices highlights important policy implications, in that if central banks increase capital buffers during good times, they can release credit conditions during hard times to alleviate the negative spillover into house prices and the real economy...

...Nicholas Apergis; James E. Payne; James W. Saunoris Purpose The purpose of this paper is to examine the possibility of asymmetries in the budgetary adjustment process. Design/methodology/approach The paper uses the TAR and MTAR models, set forth by Enders and Siklos, for the period 1957...