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This paper considers how monetary policy, a Federal funds rate shock, affects the dynamics of the US housing sector and whether the financial market liberalization of the early 1980s influenced those dynamics. The analysis uses impulse response functions obtained from a large-scale Bayesian...
Persistent link: https://www.econbiz.de/10008518277
Our paper considers this channel whereby monetary policy, a Federal funds rate shock, affects the dynamics of the US housing sector. The analysis uses impulse response functions obtained from a large-scale Bayesian Vector Autoregression (LBVAR) model that incorporates 143 monthly macroeconomic...
Persistent link: https://www.econbiz.de/10005049464
This paper provides a general strategy for analyzing monetary policy in real time which accounts for data uncertainty …
Persistent link: https://www.econbiz.de/10008854448