Arbeitspapier
Euro Area House Prices and Unconventional Monetary Policy Surprises
This paper examines the reaction of house prices in a panel of euro area countries to monetary policy surprises over the period 2010-2019. Using Jordà’s (2005) local projection method, we find that real house prices rise in response to expansionary monetary policy shocks that can be related to unconventional policy measures. In the core countries including Ireland, we also find that lending for house purchases increases relative to nominal output. Thus, household debt rises.
- Sprache
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Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 9045
- Klassifikation
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Business Fluctuations; Cycles
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
- Thema
-
Euro area house prices
unconventional monetary policy
local projection method
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hülsewig, Oliver
Rottmann, Horst
- Ereignis
-
Veröffentlichung
- (wer)
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Center for Economic Studies and Ifo Institute (CESifo)
- (wo)
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Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hülsewig, Oliver
- Rottmann, Horst
- Center for Economic Studies and Ifo Institute (CESifo)
Entstanden
- 2021
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