aggregate homeownership rates. We investigate this empirical observation using a cash-in-advance model with housing markets and … argue that the rate of inflation is important in explaining the nexus between informality and homeownership rates …

We show that monetary policy affects homeownership decisions and argue that this effect is an important and overlooked … fluctuations in the U.S. homeownership rate and that monetary policy affects households’ housing tenure choices. We then develop … homeownership rates and housing rents. We find that the calibrated model provides an explanation to the “price puzzle” and delivers …

We show that monetary policy affects homeownership decisions and argue that this effect is an important and overlooked … fluctuations in the U.S. homeownership rate and that monetary policy affects households' housing tenure choices. We then develop … homeownership rates and housing rents. We find that the calibrated model provides an explanation to the "price puzzle" and delivers …

important results: (i) Spot and forward rates are explicit functions of the number of policy meetings during the time to … maturity rather than the time to maturity itself. Consequently, the forward rate curve is step-shaped. (ii) In addition, there … are calendar time effects, i.e. the position within the policy cycle is also of importance, especially for short term …