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Housing and Macroeconomy: The Role of Credit Channel, Risk -,
Demand - and Monetary Shocks

Dorofeenko, Victor, Lee, Gabriel, Salyer, Kevin and Strobel, Johannes (2016) Housing and Macroeconomy: The Role of Credit Channel, Risk -,
Demand - and Monetary Shocks.
Working Paper.

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Date of publication of this fulltext: 28 Sep 2016 09:21

Abstract

This paper demonstrates that risk (uncertainty) along with the monetary (interest rates) shocks to the housing production sector are a quantitatively important impulse mechanism for the business and housing cycles. Our model framework is that of the housing supply/banking sector model as developed in Dorofeenko, Lee, and Salyer (2014) with the model of housing demand presented in Iacoviello and ...

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Item type:Monograph (Working Paper)
Date:29 July 2016
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Immobilienökonomie (Prof. Dr. Gabriel Lee)
Business, Economics and Information Systems > Institut für Immobilienenwirtschaft / IRE|BS > Lehrstuhl für Immobilienökonomie (Prof. Dr. Gabriel Lee)
Projects:DFG: LE 1545/1-1
Classification:
NotationType
E4, E5, E2, R2, R3Journal of Economics Literature Classification
Keywords:hetrogenous households, residential investment, housing prices, credit constraint, loan to value ratio, cash in advance constraint, monetary policy, uncertainty and demand shocks
Dewey Decimal Classification:300 Social sciences > 330 Economics
Status:Unknown
Refereed:No, this version has not been refereed yet (as with preprints)
Created at the University of Regensburg:Partially
Item ID:34639
Owner only: item control page

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