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The aim of this paper is twofold. First, I study how the proportion of fixed and variable-rate mortgages in an economy can affect the way shocks are propagated. Second, I analyze optimal implementable simple monetary policy rules and the welfare implications of this proportion. I develop and...
Persistent link: https://www.econbiz.de/10012530202
This paper studies the implications of cross-country housing market heterogeneity for a monetary union, also comparing the results with a flexible exchange rate and independent monetary policy setting. I develop a two-country new Keynesian general equilibrium model with housing and collateral...
Persistent link: https://www.econbiz.de/10012530257
Una de las características más particulares del mercado de la vivienda en España, en relación con otras economías europeas, es la proporción relativamente baja de viviendas en alquiler. Esto puede deberse en parte a la existencia de distorsiones fiscales que favorezcan la vivienda en...
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