Gorea, Denis; Kryvtsov, Oleksiy; Kudlyak, Marianna - 2022
Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking …-standard-deviation contractionary monetary policy surprise lowers housing list prices by 0.2–0.3 percent within two weeks—a magnitude on par with the … effect on stock prices. House prices respond stronger to the surprises to future rates as compared to the surprise changes in …