This paper assesses the role of the housing market in the transmission of conventional and unconventional monetary … policy across euro area regions. By exploiting a novel regional dataset on housing-related variables, a structural panel VAR … fashion across regions. Although the housing channel plays a minor role in the transmission of monetary policy to the economy …

A lack of co-movement among the national housing markets in the euro monetary union makes the job of the ECB difficult … and tight monetary conditions tailored to each national situation. Co-movement across national housing markets has thus …-term fluctuations. We examine both business cycle and medium-term components of housing in eight euro nations. We find that the medium …

market analysis ─ to detect boom/bust in the housing market, with a focus on the euro area. In this context, an underlying …, disposable income (or disposable income per capita), the debt-to-income ratio and, finally, the housing stock are fundamental …

The Banking Euro Area Stress Test (BEAST) is a large scale semi-structural model developed to assess the resilience of …