MacCarthy, Jonathan; Peach, Richard W. - Federal Reserve Bank <New York, NY>
, we present atwo-part econometric analysis of the transmission of changesin monetary policy to residential investment. The … “shock.”We then use a structural model of investment in single-familyhousing to examine the effect that the changes in the … conclusion is that the eventual magnitude of the responseof residential investment to a given change in monetary policyis similar …