This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the … transmission of monetary policy. We use a panel VAR model which is estimated over the period 19952006 to generate impulse responses … of key macroeconomic variables to a monetary policy shock. We propose a datadriven approach that splits our panel of …

This paper explores the importance of housing and mortgage market heterogeneity in 13 European countries for the …

in 2007 and, in each case, was accompanied by a rapid expansion of financing — mortgage lending and mortgage …

This paper investigates how monetary policy stance and mortgage market structure affect non-fundamental house price …-time monetary-easing shock can significantly trigger house price booms in Euro area countries with liberal mortgage markets. Such … find that, in countries with more regulated mortgage markets, monetary policy stance does not significantly affect non …