This paper investigates the importance of including data on new housing supply in Dynamic Stochastic General … financial sector and real estate sector, they have largely overlooked housing supply. I develop an extended DSGE model that … includes both the financial sector and endogenous housing supply and show that forecasting accuracy significantly improves when …

expansionary regimes increase residential investment, housing prices, and mortgage debt, while they have the opposite effects in … (DSGE) model with a housing sector that allows for multiple structural uncertainty shocks. We show that uncertainty shocks … to housing preference and the inflation target are the main sources of house price uncertainty shocks. Uncertainty shocks …

In this paper we study the drivers of fluctuations in the Irish housing market by developing a dynamic stochastic … that housing preference (demand) and technology shocks are the main drivers of fluctuations in house prices and residential … investment. Moreover, we find that adding housing collateral does not improve the fit of our model to the data. A standard …

This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real … housing demand shock. Next we use our estimated model to evaluate a policy that reduces the principal of underwater mortgages …

importance. In the second part of the paper we employ a standard model of dynamic optimisation with housing demand and seasonal … housing consumption …

-deviation contractionary monetary policy surprise lowers housing list prices by 0.2%- 0.3% within two weeks-a magnitude on par with the effect …