Housing markets vary across growing cities and declining cities, which creates heterogeneous responses of housing prices to monetary policy. We classify urban growth and urban decline based on the population growth rates at the MSA level. Using the local projections method, we find that housing...

Building on the literature on trust in institutions, the article looks at the state, evolution and sociodemographic breakdown of citizens' trust in the ECB and support for the euro. Drawing on a novel typology of attitudes towards Economic and Monetary Union (EMU) and using microdata from...

The euro and the European Central Bank (ECB) are inextricably linked at the institutional level, yet public opinion diverges: support for the euro remained high even at the height of the crisis while trust in the ECB saw a steep decline. How can we explain divergences between support for the...

Understanding the impact of changes in interest rates on house prices is important for managing house price bubbles and ensuring housing affordability. This paper investigates the effect of interest rates on regional house price to income measures based on a non-linear smooth transition VAR...

This paper examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 US metropolitan statistical areas, we estimate the medium- and long-run effects of increases in metropolitan statistical area-level employment and total labor income on...

This paper investigates whether the degree and the nature of economic and monetary policy interdependence between the United States and the euro area have changed with the advent of EMU. Using real-time data, it addresses this issue from the perspective of financial markets by analysing the...

The paper shows that US monetary policy has been an important determinant of global equity markets. Analysing 50 equity markets worldwide, we find that returns fall on average around 3.8% in response to a 100 basis point tightening of US monetary policy, ranging from a zero response in some to a...