We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption,...

Real estate markets are subject to dynamic, ever-changing influences from location, amenities and neighborhoods; regulation, zoning and population changes; but also - macroeconomic variables, such as interest rates, inflation and economic cycles. The decision to buy or rent a durable,...

This paper presents a complex, modular, 1:1 scale model of the Hungarian residential housing market. All the 4 million house‐ holds and their relevant characteristics are represented based on empirical micro‐level data coming from the Central Credit Information System, the Pension Payment...