the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …

In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit … expansion increases housing prices not only in neighborhoods where the expansion occurred, but also in those with access to pre …-existing segments of the network. We show how these network housing price effects depend on household commuting patterns, and discuss …

The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house … price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing … and non-housing demand are noisy and housing supply is not perfectly elastic. We simulate a model in which a common factor …

Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime …-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household …

-deviation contractionary monetary policy surprise lowers housing list prices by 0.2%- 0.3% within two weeks-a magnitude on par with the effect …