the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …

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 …

The aim of this paper is to show how housing tenure (rented vs. owner-occupied) affects monetary policy. In order to do … that, I propose a dynamic stochastic general equilibrium model with housing, both owned and rented. First, I analyze how …

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. …

Since the mid-1980s, monetary policy has contributed to a great moderation of the housing cycle by responding more … simulation with a simple model of the housing market shows that this deviation may have been a cause of the boom and bust in … housing starts and inflation in the last two years. Moreover, a significant time series correlation between housing price …