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. …

in asset prices, especially as regards housing, though no systematic effects are identified on equity markets …

inception of the euro. We derive a money demand equation that incorporates housing wealth and collateral as well as substitution … and higher user costs of housing are both associated with larger money holdings. Country-specific money holdings are also … connected with structural features of the housing market. …

In this paper, we seek to quantify the importance of state-level housing price spillovers and interest rate shocks to … importance of interstate housing price spillovers. Beyond real house prices and real income per capita, each state … importance of housing price spillovers is state dependent, with shocks occurring in states with relatively lower land supply …

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock … market gains. We also found statistically and economically significant housing wealth effects with a marginal propensity to …

housing market features and examine the monetary policy implications of housing-related disturbances. In particular, we derive … reinforce the existing evidence on the role of housing and mortgage markets for the US and provide new evidence on the … with the main features of optimal monetary policy response to housing-related shocks. …

Over the last two decades, New Zealand experienced a threefold increase in housing prices. The largest surge in prices … in recent years occurred between 1998 and 2007, a period of housing price growth in many developed economies. Since 2007 …, housing price growth remained flat until 2011, and then prices once again embarked on an upward trend. However, recent housing …

Housing prices and household borrowing are expected to be tightly connected to each other. Better availability of … credit eases liquidity constraints of households, which is likely to lead to higher demand for housing. On the other hand …, housing prices may significantly influence household borrowing through various wealth effects. Employing time series …