This paper develops a two-agent, two-sector, open-economy DSGE model with a housing-market sector and a borrowing … constraint. Contrary to standard conventions, domestic households are allowed to invest in foreign housing and vice versa. Using … Bayesian methods, the model is applied to data for Hong Kong. We identify strong and robust housing wealth effects, and show …

housing price bubbles. Here, we ana-lyse the merits of this countercyclical macroprudential policy in a New Keynesian DSGE … limit transmission of housing price cycle effects to the real economy. …

This paper develops a two-agent, two-sector, open-economy DSGE model with a housing-market sector and a borrowing … constraint. Contrary to standard conventions, domestic households are allowed to invest in foreign housing and vice versa. Using … Bayesian methods, the model is applied to data for Hong Kong. We identify strong and robust housing wealth effects, and show …

This paper develops an open-economy DSGE model with a housing-market sector and a borrowing constraint. Contrary to … standard conventions, domestic households are allowed to invest in foreign housing and vice versa. Using Bayesian methods, the … model is applied to data for Hong Kong. The results show that Hong Kong’s housing market is quite open to foreign investment …

shocks specific to the housing sector. While our estimates show that monetary policy has large spillover effects on house …

household sector and the housing stock in a two-region DSGE model with out of sync subnational housing markets and compare four …

moderate house price differences in the UK. We disaggregate both the household sector and the housing stock in a two …-region DSGE model with out of sync subnational housing markets and compare four policy types: standard monetary policy, leaning …

shocks specific to the housing sector. While our estimates show that monetary policy has large spillover effects on house …