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The COVID-19 pandemic crisis has severely shocked the commercial real estate (CRE) sector, which could have important implications for macro-financial stability going forward because of the large size of the sector and its strong interconnectedness with the real economy. Using a novel...
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This paper investigates how monetary policy stance and mortgage market structure affect non-fundamental house price … and tax policies in order to minimize the side effects of accommodative monetary policies on housing market stability for …
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