House Prices and the stance of Monetary Policy.
Jarociński, Marek; Smets, Frank;
- Publisher: Frankfurt a. M.: European Central Bank (ECB)
- Journal: issn: 0014-9187
- Subject: USA | Monetary policy ; Housing - Prices | monetary conditions index | monetary policy shock | Bayesian VAR, conditional forecast, House prices, monetary conditions index, monetary policy shock | Business and Economics | UNITED-STATES | Bayesian VAR | Zins | E3 | E4 | OUTPUT | Immobilienpreis | conditional forecast | Makroökonometrie | Nationaleinkommen | House prices | Geldpolitik
- ddc: ddc:330
This paper estimates a Bayesian VAR for the US economy which includes a housing sector and addresses the following questions. Can developments in the housing sector be explained on the basis of developments in real and nominal GDP and interest rates? What are the effect... View more