Money and housing: evidence for the euro area and the US

This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co-integrated money demand relationships can be established for both the euro area and the US. Furthermore, we find evidence for asset inflation channels, that is, liquidity fuels housing market developments.

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Year of publication:	2007
Authors:	Greiber, Claus ; Setzer, Ralph
Publisher:	Frankfurt a. M. : Deutsche Bundesbank
Subject:	Immobilienpreis \| Geldnachfrage \| Geldmenge \| Immobilienmarkt \| Schätzung \| EU-Staaten \| USA \| money demand \| asset inflation \| housing \| wealth

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Series:	Discussion Paper Series 1 ; 2007,12
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	543476936 [GVK] hdl:10419/19691 [Handle] RePEc:zbw:bubdp1:6135 [RePEc]
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E41 - Demand for Money
Source:	EconStor

Persistent link: https://www.econbiz.de/10010295851