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The dynamic impact of monetary policy on regional housing prices in the United States

Fischer, Manfred M.; Huber, Florian; Pfarrhofer, Michael; … - 2018

This paper uses a factor-augmented vector autoregressive model to examine the impact of monetary policy shocks on housing prices across metropolitan and micropolitan regions. To simultaneously estimate the model parameters and unobserved factors we rely on Bayesian estimation and inference....

Persistent link: https://www.econbiz.de/10011930297

Is there a national housing market bubble brewing in the United States?

Gupta, Rangan; Ma, Jun; Theodoridis, Konstantinos; … - 2020

monetary policy shocks playing virtually no role during this period. In the third-regime, unconventional monetary policy shock …

Persistent link: https://www.econbiz.de/10012229804

Conventional and unconventional monetary policies : effects on the Finnish housing market

Rosenberg, Signe - In: Baltic journal of economics 20 (2020) 2, pp. 170-186

sign restrictions. The results reveal that both a policy interest rate shock and a balance sheet shock have a positive and … temporary impact on house prices in Finland, with the response to a balance sheet shock being smaller and fading out faster. The … peak of the effect of a policy rate shock on house prices in Finland arrives faster than in the whole euro area but the …

Persistent link: https://www.econbiz.de/10012296184

House prices, disposable income, and permanent and temporary shocks

Fraser, Patricia; Hoesli, Martin; McAlevey, Lynn George - 2009

Using quarterly data over 1973:4-2008:2, two-variable systems of house prices and income are specified for three major house-owning economies: New Zealand (N.Z.), the U.K. and the U.S. After considering differences in price−income relationships over sub-periods, the analysis compares responses...

Persistent link: https://www.econbiz.de/10003971258

Housing, consumption and monetary policy : how different are the US and the euro area?

Musso, Alberto; Neri, Stefano; Stracca, Livio - 2010

The paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the US and in the euro area. First, it establishes some stylised facts concerning key variables in the housing market, such as the real house price, residential investment and mortgage...

Persistent link: https://www.econbiz.de/10003971203

Housing, Consumption and Monetary Policy : How Different are the US and the Euro Area?

Musso, Alberto - 2012

Persistent link: https://www.econbiz.de/10013116395

Housing, Consumption and Monetary Policy : How Different are the U.S. And the Euro Area?

Musso, Alberto - 2011

This paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the U.S. and the euro area. First, it establishes some stylised facts concerning key variables in the housing market on the two sides of the Atlantic, such as real house prices,...

Persistent link: https://www.econbiz.de/10013124765

The Time-Varying Effect of US Monetary Policy Shocks on Asset Prices and the Macroeconomy

Serbest, Özge - 2021

I explore the time-varying effects of the multi-dimensional aspect of monetary policy on asset prices and macroeconomic variables using a time-varying factor-augmented vector autoregressive model. I decompose monetary policy into three dimensions: current monetary policy stance, FOMC...

Persistent link: https://www.econbiz.de/10013313991

Time-Varying Role of Macroeconomic Shocks on House Prices in the US and UK : Evidence from over 150 Years of Data

Plakandaras, Vasilios - 2018

economic events happening at the imposition of the shock and uncover characteristics missed in the time-invariant approaches of …

Persistent link: https://www.econbiz.de/10012908615

Aggregate shocks and the Brazilian housing market dynamics

Silva, Marcelo Eduardo Alves da; Besarria, Cássio da … - In: Economia : revista da ANPEC 20 (2019) 2, pp. 121-137

shocks, while a contractionary monetary policy shock depress housing output, demand and prices. Additionally, we find …

Persistent link: https://www.econbiz.de/10012171072

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