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This paper explores the importance of housing and mortgage market heterogeneity in 13 European countries for the …
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We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-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,...
Persistent link: https://www.econbiz.de/10012252067
lower labour income and more widespread homeownership. An expansionary monetary policy can thus be effective in mitigating …
Persistent link: https://www.econbiz.de/10013448726
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 …
Persistent link: https://www.econbiz.de/10012827196
This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the …
Persistent link: https://www.econbiz.de/10003872444
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-integrated money demand relationships can be established for both...
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