Carstensen, Kai; Hülsewig, Oliver; Wollmershäuser, Timo - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
This paper explores the importance of housing and mortgage market heterogeneity in 13 European countries for the transmission of monetary policy. We use a pooled VAR model which is estimated over the period 1995-2006 to generate impulse responses of key macroeconomic variables to a monetary...
