In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative … weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental … housing, this variant of the imputation method may cause a bias in the German CPI. For assessing the appropriateness of the …

indices often fail. We apply hedonic methods to rental housing services, which display less quality progress. However, as … German households devote about 10 % of their total expenditure to rented housing services, even a small bias in this field …-Economic Panel, we perform a hedonic analysis of housing rents and compile different price indices. Overall, we conclude that there …

inflation channels, that is, liquidity fuels housing market developments. …This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical … model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co …

inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … and higher user costs of housing are both associated with larger money holdings. Country-specific money holdings are also … connected with structural features of the housing market. …

recourse to the LOLR facility (a) to derive banks' willingness-to-pay for liquidity through a one-week repo and (b) to show … results suggest (i) that banks' willingness-to-pay for liquidity indeed reflects refinancing conditions in the interbank …

financial crisis. Yet, we know little about the actual magnitudes and mechanisms for transmission of liquidity shocks through … studies conducted in 11 countries to explore liquidity risk transmission. Among the main results is, first, that explanatory … power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk …