Calza, Alessandro; Stracca, Livio; Monacelli, Tommaso - Europäische Zentralbank - 2009
accordingto a wide range of indicators, the transmission of monetary policy shocks toresidential investment and house prices is … facts: first, the features of residentialmortgage markets differ markedly across industrialized countries; second, and … toconsumption is stronger only in those countries where mortgage equity release iscommon and mortgage contracts are predominantly of …