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Home ownership and monetary policy transmission
Koeniger, Winfried; Ramelet, Marc-Antoine - 2018
We present empirical evidence on the heterogeneity in monetary policy transmission across countries with different home ownership rates. We use household-level data together with shocks to the policy rate identified from high-frequency data. We find that housing tenure reacts more strongly to...
Persistent link: https://www.econbiz.de/10011933761
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Monetary policy transmission and house prices : European cross-country evidence
Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - 2009
This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the …
Persistent link: https://www.econbiz.de/10003872444
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Das House-Kapital : a theory of wealth-to-income ratios
Grossmann, Volker; Steger, Thomas - 2016 - April 11, 2016 (Version 1.1)
This paper provides a novel macroeconomic model that is specifically designed to investigate the evolution of housing wealth. To capture the importance of land as an input factor for housing production and for the evolution of wealth in a growing economy, the analysis builds on three premises:...
Persistent link: https://www.econbiz.de/10011451042
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The impact of foreclosure on housing prices
Siebert, Ralph - 2015
The aim of the study is to explain if the foreclosure effect on prices is explained by a lower quality of foreclosed houses, which is a crucial aspect in the intelligibility of foreclosures. Based on a novel and comprehensive dataset, we estimate the impact of foreclosure on home prices in...
Persistent link: https://www.econbiz.de/10010477084
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Homeownership : low household mobility, volatile housing prices, high income dispersion
Ortalo-Magné, François; Rady, Sven - 2002
joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …
Persistent link: https://www.econbiz.de/10011514075
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Home ownership and household portfolio choice
Michielsen, Thomas; Mocking, Remco; Veldhuizen, Sander van - 2016
mortgage amount influence the share of liquid assets held in stocks. We apply different econometric methods to take selection … and endogeneity into account. In our preferred specifications both home equity and the household's amount of mortgage debt …
Persistent link: https://www.econbiz.de/10011415276
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The role of the IFO business climate indicator and asset prices in German monetary policy : presented at CEFifo conference "Academic Use of ifo Survey Data", December 2003
Sterken, Elmer - 2004
We analyze the role of forward-looking indicators, like the IFO business climate indicator and asset prices, in German monetary transmission. We show that the use of both the IFO indicator and asset prices improves the performance and interpretation of a Vector AutoRegression (VAR) model of...
Persistent link: https://www.econbiz.de/10011449258
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Monetary policy transmission and trade-offs in the United States : old and new
Hofmann, Boris; Peersman, Gert - 2017 - First version: July 2017, this version: October 2017
monetary policy on credit is driven by a much higher responsiveness of mortgage credit and a larger share of mortgages in total …
Persistent link: https://www.econbiz.de/10011754207
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Early effects of the COVID-19 pandemic on housing market in the United States
Yörük, Barış K. - 2020
I use daily data from fifty major cities to investigate the early effects of the COVID-19 pandemic on housing market in the United States. I find that starting from the second half of March, 2020, new home listings and pending home sales started to decrease. By mid-April, certain markets...
Persistent link: https://www.econbiz.de/10012224225
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Why do buyers pay different prices for comparable products? : evidence from the housing market
Siebert, Ralph; Seiler, Michael J. - 2020
We focus on the housing market and examine why nonlocal home buyers (NLBs) pay 15 percent more for houses than local home buyers (LBs). We estimate a housing demand model that returns heterogeneous willingness to pay parameters for housing attributes. Our results show that NLBs are willing to...
Persistent link: https://www.econbiz.de/10012225430