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

Research English OPEN
Musso, Alberto; Neri, Stefano; Stracca, Livio;
(2010)
  • Publisher: Frankfurt a. M.: European Central Bank (ECB)
  • Subject: E22 | E44 | E52 | credit | House prices | monetary policy | Residential investment | Wohneigentum | Immobilienpreis | Hypothek | Geldpolitik | Schock | VAR-Modell | Eurozone | EU-Staaten | USA
    • ddc: ddc:330

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 i... View more
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