Hofmann, Boris; Peersman, Gert - 2017 - First version: July 2017, this version: October 2017
This study shows that, in the United States, the effects of monetary policy on credit and housing markets have become …. Macroeconomic stabilization through monetary policy may therefore have become associated with greater fluctuations in credit and … housing markets, whereas stabilizing credit and house prices may have become less costly in terms of macroeconomic volatility …
