This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the …

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

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 …

-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and … output, but significant in consumption, consumer prices, and variables related to local housing and labor markets. Building a … small open economy model featuring a housing sector and calibrating it to Spain, we show that varying the share of …

This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical … model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co … inflation channels, that is, liquidity fuels housing market developments. …