Lambertini, Luisa; Mendicino, Caterina; Punzi, Maria Teresa - Suomen Pankki - 2012
consumers' beliefs of favorable buying conditions in the housing market. This paper explores the transmission of "news shocks …" as a source of boom-bust cycles in the housing market. News on shocks originated in different sectors of the economy can … generate booms in the housing market in accordance with the average behavior in the data; expectations on monetary policy and …