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Financial Liberalization And The Sensitivity Of House Prices To Monetary Policy: Theory And Evidence
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- Ms. Silvia Sgherri & Bertrand Gruss, 2009.
"The Volatility Costs of Procyclical Lending Standards: An Assessment Using a Dsge Model,"
IMF Working Papers
2009/035, International Monetary Fund.
- Bertrand Gruss & Silvia Sgherri, 2009. "The Volatility Costs of Procyclical Lending Standards: An Assessment Using a DSGE Model," Economics Working Papers ECO2009/07, European University Institute.
- Andrea Ferrero, 2015.
"House Price Booms, Current Account Deficits, and Low Interest Rates,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 261-293, March.
- Andrea Ferrero, 2012. "House price booms, current account deficits, and low interest rates," Staff Reports 541, Federal Reserve Bank of New York.
- Juan S. Mora-Sanguinetti, 2011. "The Regulation of Residential Tenancy Markets in Post-War Western Europe: An Economic Analysis," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 8(1), pages 47-75, June.
- Yi Jin & Charles K.Y. Leung & Zhixiong Zeng, 2012.
"Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis,"
Real Estate Economics, American Real Estate and Urban Economics Association, vol. 40(1), pages 167-195, March.
- Jin, Yi & Leung, Charles Ka Yui & Zeng, Zhixiong, 2010. "Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis," MPRA Paper 26722, University Library of Munich, Germany.
- Boris Hofmann & Gert Peersman, 2017.
"Monetary Policy Transmission and Trade-offs in the United States: Old and New,"
CESifo Working Paper Series
6745, CESifo.
- Boris Hofmann & Gert Peersman, 2017. "Monetary Policy Transmission And Trade-Offs In The United States: Old And New," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 17/940, Ghent University, Faculty of Economics and Business Administration.
- Boris Hofmann & Gert Peersman, 2017. "Monetary policy transmission and trade-offs in the United States: Old and new," BIS Working Papers 649, Bank for International Settlements.
- Vasilios Plakandaras & Rangan Gupta & Constantinos Katrakilidis & Mark E. Wohar, 2020.
"Time-varying role of macroeconomic shocks on house prices in the US and UK: evidence from over 150 years of data,"
Empirical Economics, Springer, vol. 58(5), pages 2249-2285, May.
- Vasilios Plakandaras & Rangan Gupta & Constantinos Katrakilidis & Mark E. Wohar, 2017. "Time-Varying Role of Macroeconomic Shocks on House Prices in the US and UK: Evidence from Over 150 Years of Data," Working Papers 201765, University of Pretoria, Department of Economics.
- Manfred M. Fischer & Florian Huber & Michael Pfarrhofer & Petra Staufer‐Steinnocher, 2021.
"The Dynamic Impact of Monetary Policy on Regional Housing Prices in the United States,"
Real Estate Economics, American Real Estate and Urban Economics Association, vol. 49(4), pages 1039-1068, December.
- Fischer, Manfred M. & Huber, Florian & Pfarrhofer, Michael & Staufer-Steinnocher, Petra, 2018. "The dynamic impact of monetary policy on regional housing prices in the United States," Working Papers in Regional Science 2018/09, WU Vienna University of Economics and Business.
- Fischer, Manfred M. & Huber, Florian & Pfarrhofer, Michael & Staufer-Steinnocher, Petra, 2018. "The dynamic impact of monetary policy on regional housing prices in the United States," Working Papers in Economics 2018-7, University of Salzburg.
- Wieladek, Tomasz & Hjortsø, Ida & Weale, Martin, 2016.
"Monetary Policy and the Current Account: Theory and Evidence,"
CEPR Discussion Papers
11204, C.E.P.R. Discussion Papers.
- Hjortsoe, Ida & Weale, Martin & Wieladek, Tomasz, 2016. "Monetary policy and the current account; theory and evidence," Discussion Papers 45, Monetary Policy Committee Unit, Bank of England.
- Matteo Iacoviello, 2002. "House Prices and Business Cycles in Europe: a VAR Analysis," Boston College Working Papers in Economics 540, Boston College Department of Economics.
- Zhang, Yanbing & Hua, Xiuping & Zhao, Liang, 2012. "Exploring determinants of housing prices: A case study of Chinese experience in 1999–2010," Economic Modelling, Elsevier, vol. 29(6), pages 2349-2361.
- Antonakakis, Nikolaos & Floros, Christos, 2016. "Dynamic interdependencies among the housing market, stock market, policy uncertainty and the macroeconomy in the United Kingdom," International Review of Financial Analysis, Elsevier, vol. 44(C), pages 111-122.
- Chatziantoniou, Ioannis & Filis, George & Floros, Christos, 2017.
"Asset prices regime-switching and the role of inflation targeting monetary policy,"
Global Finance Journal, Elsevier, vol. 32(C), pages 97-112.
- Chatziantoniou, Ioannis & Filis, George & Floros, Christos, 2015. "Asset prices regime-switching and the role of inflation targeting monetary policy," MPRA Paper 68666, University Library of Munich, Germany.
- Clemente De Lucia, 2007. "Did the FED Inflate a Housing Price Bubble? A Cointegration Analysis between the 1980s and the 1990s," ISAE Working Papers 82, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
- Zhang, Yanbing & Hua, Xiuping & Zhao, Liang, 2011. "Monetary policy and housing prices : a case study of Chinese experience in 1999-2010," BOFIT Discussion Papers 17/2011, Bank of Finland, Institute for Economies in Transition.
- Gupta, Rangan & Jurgilas, Marius & Kabundi, Alain, 2010.
"The effect of monetary policy on real house price growth in South Africa: A factor-augmented vector autoregression (FAVAR) approach,"
Economic Modelling, Elsevier, vol. 27(1), pages 315-323, January.
- Rangan Gupta & Marius Jurgilas & Alain Kabundi, 2009. "The Effect Of Monetary Policy On Real House Price Growth In South Africa: A Factor Augmented Vector Autoregression (Favar) Approach," Working Papers 200905, University of Pretoria, Department of Economics.
- Kai Carstensen & Oliver Hülsewig & Timo Wollmershäuser, 2009.
"Monetary Policy Transmission and House Prices: European Cross Country Evidence,"
Working Paper / FINESS
7.4, DIW Berlin, German Institute for Economic Research.
- Kai Carstensen & Oliver Hülsewig & Timo Wollmershäuser, 2009. "Monetary Policy Transmission and House Prices: European Cross-country Evidence," CESifo Working Paper Series 2750, CESifo.
- Zhang, Yanbing & Hua, Xiuping & Zhao, Liang, 2011. "Monetary policy and housing prices: a case study of Chinese experience in 1999-2010," BOFIT Discussion Papers 17/2011, Bank of Finland Institute for Emerging Economies (BOFIT).
- Gabriele Galati & Federica Teppa & Rob Alessie, 2013.
"Heterogeneity in house price dynamics,"
DNB Working Papers
371, Netherlands Central Bank, Research Department.
- Gabriele Galati & Federica Teppa, 2017. "Heterogeneity in house price dynamics," DNB Working Papers 564, Netherlands Central Bank, Research Department.
- Urban J. Jermann & Vincenzo Quadrini, 2006.
"Financial innovations and macroeconomic volatility,"
Proceedings, Federal Reserve Bank of San Francisco, issue Nov.
- Quadrini, Vincenzo & Jermann, Urban, 2006. "Financial Innovations and Macroeconomic Volatility," CEPR Discussion Papers 5727, C.E.P.R. Discussion Papers.
- Urban Jermann & Vincenzo Quadrini, 2006. "Financial Innovations and Macroeconomic Volatility," NBER Working Papers 12308, National Bureau of Economic Research, Inc.
- Urban Jermann & Vincenzo Quadrini, 2007. "Financial Innovations and Macroeconomic Volatility," 2007 Meeting Papers 50, Society for Economic Dynamics.
- Massimiliano Pisani, 2011. "Financial Openness and Macroeconomic Instability in Emerging Market Economies," Open Economies Review, Springer, vol. 22(3), pages 501-532, July.
- Isabel Ruiz & Carlos Vargas-Silva, 2016. "The impacts of fiscal policy shocks on the US housing market," Empirical Economics, Springer, vol. 50(3), pages 777-800, May.
- Josef Bajzik & Jan Janku & Simona Malovana & Klara Moravcova & Ngoc Anh Ngo, 2023. "Monetary Policy Has a Long-Lasting Impact on Credit: Evidence from 91 VAR Studies," Working Papers 2023/19, Czech National Bank.
- Leung, Charles, 2004.
"Macroeconomics and housing: a review of the literature,"
Journal of Housing Economics, Elsevier, vol. 13(4), pages 249-267, December.
- Charles Ka Yui Leung, 2004. "Macroeconomics and Housing: A Review of the Literature," Discussion Papers 00004, Chinese University of Hong Kong, Department of Economics.
- Charles Ka-Yui Leung, 2004. "Macroeconomics and Housing: A Review of the Literature," Departmental Working Papers _164, Chinese University of Hong Kong, Department of Economics.
- Rangan Gupta & Marius Jurgilas & Alan Kabundi & Stephen M. Miller, 2009.
"Monetary Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector Autoregressive Mode,"
Working Papers
0919, University of Nevada, Las Vegas , Department of Economics.
- Rangan Gupta & Marius Jurgilas & Alain Kabundi & Stephen M. Miller, 2009. "Monetary Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector Autoregressive Model," Working papers 2009-19, University of Connecticut, Department of Economics.
- Rangan Gupta & Marius Jurgilas & Alain Kabundi & Stephen M. Miller, 2009. "Monetary Policy and Housing Sector Dynamics in a Large-Scale Bayesian Vector Autoregressive Model," Working Papers 200913, University of Pretoria, Department of Economics.
- Alain KABUNDI & Rangan GUPTA, 2009.
"The Effect of Monetary Policy on House Price Inflation: A Factor Augmented Vector Autoregression (FAVAR) Approach,"
EcoMod2009
21500048, EcoMod.
- Rangan Gupta & Alain Kabundi, 2009. "The Effect Of Monetary Policy On House Price Inflation: A Factor Augmented Vector Autoregression (Favar) Approach," Working Papers 200903, University of Pretoria, Department of Economics.
- Dominika Ehrenbergerova & Josef Bajzik & Tomas Havranek, 2023.
"When Does Monetary Policy Sway House Prices? A Meta-Analysis,"
IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(2), pages 538-573, June.
- Havranek, Tomas & Kolcunova, Dominika & Bajzik, Josef, 2021. "When Does Monetary Policy Sway House Prices? A Meta-Analysis," CEPR Discussion Papers 16196, C.E.P.R. Discussion Papers.
- Josef Bajzik & Dominika Ehrenbergerova & Tomas Havranek, 2021. "When Does Monetary Policy Sway House Prices? A Meta-Analysis," Working Papers IES 2021/17, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised May 2021.
- Ehrenbergerova, Dominika & Bajzik, Josef & Havranek, Tomas, 2021. "When Does Monetary Policy Sway House Prices? A Meta-Analysis," EconStor Preprints 234126, ZBW - Leibniz Information Centre for Economics.
- Beatrice D. Simo-Kengne & Rangan Gupta & Manoel Bittencourt, 2013.
"The Impact of House Prices on Consumption in South Africa: Evidence from Provincial-Level Panel VARs,"
Housing Studies, Taylor & Francis Journals, vol. 28(8), pages 1133-1154, November.
- Beatrice D. Simo-Kengne & Rangan Gupta & Manoel Bittencourt, 2012. "THE IMPACT OF HOUSE PRICES ON CONSUMPTION IN SOUTH AFRICA: EVIDENCE FROM PROVINCIAL-LEVEL PANEL VARs," Working Papers 201211, University of Pretoria, Department of Economics.
- Torres-Tellez, Jonathan & Montero Soler, Alberto, 2021. "El precio de la vivienda en España tras el inicio de la crisis económica: un análisis empírico || Housing prices in Spain after the beginning of the financial crisis: An empirical analysis," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 32(1), pages 376-391, December.
- Rangan Gupta & Sonali Das, 2008.
"Spatial Bayesian Methods Of Forecasting House Prices In Six Metropolitan Areas Of South Africa,"
South African Journal of Economics, Economic Society of South Africa, vol. 76(2), pages 298-313, June.
- Rangan Gupta & Sonali Das, 2008. "Spatial Bayesian Methods of Forecasting House Prices in Six Metropolitan Areas of South Africa," Working Papers 200813, University of Pretoria, Department of Economics.
- Ashot Tsharakyan & Martin Janíčko, 2010. "The Binding Credit Constraints and the Welfare Effects of Housing Price Appreciation," Prague Economic Papers, Prague University of Economics and Business, vol. 2010(4), pages 359-382.
- Christos S. Savva, 2015. "House Price Dynamics and the Reaction to Macroeconomic Changes: The Case of Cyprus," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 9(2), pages 79-90, December.
- Rangan Gupta & Stephen M. Miller & Dylan van Wyk, 2010.
"Financial Market Liberalization, Monetary Policy, and Housing Price Dynamics,"
Working papers
2010-06, University of Connecticut, Department of Economics.
- Rangan Gupta & Marius Jurgilas & Stephen M. Miller & Dylan van Wyk, 2010. "Financial Market Liberalization, Monetary Policy, and Housing Price Dynamics," Working Papers 201009, University of Pretoria, Department of Economics.
- Agnello, Luca & Schuknecht, Ludger, 2011.
"Booms and busts in housing markets: Determinants and implications,"
Journal of Housing Economics, Elsevier, vol. 20(3), pages 171-190, September.
- Agnello, Luca & Schuknecht, Ludger, 2009. "Booms and busts in housing markets: determinants and implications," Working Paper Series 1071, European Central Bank.
- Filipa Sá & Pascal Towbin & Tomasz Wieladek, 2014. "Capital Inflows, Financial Structure And Housing Booms," Journal of the European Economic Association, European Economic Association, vol. 12(2), pages 522-546, April.
- Ester Faia, 2007. "Welfare Implications of Capital Account Liberalization," CEIS Research Paper 92, Tor Vergata University, CEIS.
- Wang, Shen & Mayes, David G., 2012. "Monetary policy announcements and stock reactions: An international comparison," The North American Journal of Economics and Finance, Elsevier, vol. 23(2), pages 145-164.
- Alex van de Minne & Federica Teppa, 2015. "Demand and supply of mortgage credit," DNB Working Papers 486, Netherlands Central Bank, Research Department.
- Wieladek, Tomasz, 2016. "The varying coefficient Bayesian panel VAR model," Bank of England working papers 578, Bank of England.
- Lichao Cheng & Yi Jin & Zhixiong Zeng, 2011. "Asset Prices, Monetary Policy, and Aggregate Fluctuations: An Empirical Investigation," Monash Economics Working Papers 13-11, Monash University, Department of Economics.
- Rosenberg, Signe, 2019.
"The effects of conventional and unconventional monetary policy on house prices in the Scandinavian countries,"
Journal of Housing Economics, Elsevier, vol. 46(C).
- Signe Rosenberg, 2018. "The Effects of Conventional and Unconventional Monetary Policy on House Prices in the Scandinavian Countries," TUT Economic Research Series 44, Department of Finance and Economics, Tallinn University of Technology.
- Thierry Bracke & Matthieu Bussière & Michael Fidora & Roland Straub, 2010.
"A Framework for Assessing Global Imbalances,"
The World Economy, Wiley Blackwell, vol. 33(9), pages 1140-1174, September.
- Bracke, Thierry & Bussière, Matthieu & Fidora, Michael & Straub, Roland, 2008. "A framework for assessing global imbalances," Occasional Paper Series 78, European Central Bank.
- Xinxin Zhao & Zongjun Wang & Min Deng, 2019. "Interest Rate Marketization, Financing Constraints and R&D Investments: Evidence from China," Sustainability, MDPI, vol. 11(8), pages 1-17, April.
- Zhu, Bing & Betzinger, Michael & Sebastian, Steffen, 2017. "Housing market stability, mortgage market structure, and monetary policy: Evidence from the euro area," Journal of Housing Economics, Elsevier, vol. 37(C), pages 1-21.
- Ioannis Ganoulis & Massimo Giuliodori, 2011. "Financial liberalization and house price dynamics in Europe," Applied Economics, Taylor & Francis Journals, vol. 43(21), pages 2671-2688.
- Juan Mora-Sanguinetti, 2012. "Is judicial inefficacy increasing the weight of the house property market in Spain? Evidence at the local level," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 3(3), pages 339-365, September.
- Kenneth Kuttner & Ilhyock Shim, 2012. "Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit," RBA Annual Conference Volume (Discontinued), in: Alexandra Heath & Frank Packer & Callan Windsor (ed.),Property Markets and Financial Stability, Reserve Bank of Australia.
- Suari-Andreu, Eduard, 2021. "Housing and household consumption: An investigation of the wealth and collateral effects," Journal of Housing Economics, Elsevier, vol. 54(C).
- Seema Narayan & Paresh Kumar Narayan, 2011.
"The Importance of Real and Nominal Shocks on the UK Housing Market,"
International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 10(3), pages 219-234, December.
- Narayan, Paresh Kumar & Narayan, Seema, 2011. "The importance of real and nominal shocks on the UK housing market," Working Papers fe_2011_05, Deakin University, Department of Economics.
- Patrick J. Wilson & Ralf Zurbruegg, 2008. "Big City Difference? Another Look at Factors Driving House Prices," Journal of Property Research, Taylor & Francis Journals, vol. 25(2), pages 157-177, November.
- Nneji, Ogonna & Brooks, Chris & Ward, Charles W.R., 2013. "House price dynamics and their reaction to macroeconomic changes," Economic Modelling, Elsevier, vol. 32(C), pages 172-178.
- Luci Ellis, 2005. "Disinflation and the dynamics of mortgage debt," BIS Papers chapters, in: Bank for International Settlements (ed.), Investigating the relationship between the financial and real economy, volume 22, pages 5-20, Bank for International Settlements.
- Christos S. Savva, 2018. "Factors Affecting Housing Prices: International Evidence," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 12(2), pages 87-96, December.
- Jane K. Dokko & Brian M. Doyle & Skander J. van den Heuvel & Michael T. Kiley & Jinill Kim & Shane M. Sherlund & Jae W. Sim, 2009. "Monetary policy and the housing bubble," Finance and Economics Discussion Series 2009-49, Board of Governors of the Federal Reserve System (U.S.).
- Hjortsoe, Ida & Weale, Martin & Wieladek, Tomasz, 2018. "How does financial liberalisation affect the influence of monetary policy on the current account?," Journal of International Money and Finance, Elsevier, vol. 85(C), pages 93-123.
- Cheng, Lichao & Jin, Yi, 2013. "Asset prices, monetary policy, and aggregate fluctuations: An empirical investigation," Economics Letters, Elsevier, vol. 119(1), pages 24-27.
- Shujie Yao & Dan Luo & Lixia Loh, 2011. "On China’s Monetary Policy and Asset Prices," Discussion Papers 11/04, University of Nottingham, GEP.
- Dominika Ehrenbergerova & Josef Bajzik, 2020. "The Effect of Monetary Policy on House Prices - How Strong is the Transmission?," Working Papers 2020/14, Czech National Bank.