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Until recently, the literature ignored the interactions between housing and macroeconomics. Thanks to many researchers …' contributions, the macro-housing field is in development. This review complements previous research and highlights a few areas that … have made significant progress lately. They are the rental market and related issues, housing affordability, people …
Persistent link: https://www.econbiz.de/10013461195
We analytically characterize optimal monetary policy for an augmented New Keynesian model with a housing sector. With … rational private sector expectations about housing prices and inflation, optimal monetary policy can be characterized by a … standard 'target criterion' that refers to inflation and the output gap, without making reference to housing prices. When the …
Persistent link: https://www.econbiz.de/10012171741
Persistent link: https://www.econbiz.de/10010345429
This paper provides some background for the book, Handbook of Real Estate and Macroeconomics. It gives an overview of different chapters and how various themes and ideas can be connected. Directions for future research are also discussed.
Persistent link: https://www.econbiz.de/10012595326
Persistent link: https://www.econbiz.de/10012622341
Persistent link: https://www.econbiz.de/10011879229
We analytically characterize optimal monetary policy for an augmented New Keynesian model with a housing sector. In a … setting where the private sector has rational expectations about future housing prices and inflation, optimal monetary policy … can be characterized without making reference to housing price developments: commitment to a "target criterion" that …
Persistent link: https://www.econbiz.de/10011859319
Persistent link: https://www.econbiz.de/10011917326
We analytically characterize optimal monetary policy for an augmented New Keynesian model with a housing sector. In a … setting where the private sector has rational expectations about future housing prices and inflation, optimal monetary policy … can be characterized without making reference to housing price developments: commitment to a "target criterion" that …
Persistent link: https://www.econbiz.de/10011918620
We analytically characterize optimal monetary policy for a New Keynesian model with a housing sector. If one supposes … that the private sector has rational expectations about future housing prices and inflation, optimal monetary policy can be … characterized without making reference to housing price developments: commitment to a "target criterion" that refers only to …
Persistent link: https://www.econbiz.de/10012453090