The housing market structure displays remarkable differences across countries, especially in terms of the relative size and the effi ciency of the rental sector. This heterogeneity can be due to several factors, such as cultural or preference, fiscal, and the institutional. In this paper, I...

Artículo de revista

Una de las características más particulares del mercado de la vivienda en España, en relación con otras economías europeas, es la proporción relativamente baja de viviendas en alquiler. Esto puede deberse en parte a la existencia de distorsiones fiscales que favorezcan la vivienda en...

Artículo de revista

Artículo de revista

The aim of this paper is twofold. First, I study how the proportion of fixed and variable-rate mortgages in an economy can affect the way shocks are propagated. Second, I analyze optimal implementable simple monetary policy rules and the welfare implications of this proportion. I develop and...

This paper studies the implications of cross-country housing market heterogeneity for a monetary union, also comparing the results with a flexible exchange rate and independent monetary policy setting. I develop a two-country new Keynesian general equilibrium model with housing and collateral...

Artículo de revista

Latin America and the Caribbean is one of the regions in the world with the greatest ethnic, racial and cultural diversity. This diversity is a major asset that holds the key to achieving lasting economic and political stability and constructing a fair, cohesive and democratic society. However,...