Front Matter
Author:
Giancarlo Corsetti 0000000404811396 https://isni.org/isni/0000000404811396 International Monetary Fund

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Joao B. Duarte 0000000404811396 https://isni.org/isni/0000000404811396 International Monetary Fund

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Samuel Mann 0000000404811396 https://isni.org/isni/0000000404811396 International Monetary Fund

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Publication Date:
26 Jun 2020
eISBN:
9781513548746
Language:
English
Keywords:
WP; coefficient of variation; nominal exchange rate; Monetary Policy; High-Frequency Identification; Monetary Union; Housing Market; Loan-to-value Ratio; Adjustable Mortgage Rates; monetary policy shock; housing price; nominal interest rate; contractionary monetary policy; depreciation rate; fixed interest rate; exchange rate; Housing prices; Housing; Consumption; Mortgages; Private consumption; Europe; Global
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Front Matter Page

Statistics Department

Contents

  • Abstract

  • I. Introduction

  • II. A Dynamic Factor Model for the EA

  • A. Motivation

  • B. Empirical Framework

  • C. Identification

  • D. Data and Estimation

  • III. Empirical Results

  • A. Euro-wide Dynamic Effects of Monetary Policy

  • B. Cross-Country Dynamic Effects of Monetary Policy

  • IV. Quantifying How Mortgage Markets Shape Monetary Transmission

  • A. Model

  • B. Calibration

  • C. Quantitative Exercise: One Money, Many Housing Markets

  • V. Conclusion

  • References

  • Appendix

  • Collapse
  • Expand
Cover IMF Working Papers
One Money, Many Markets: Monetary Transmission and Housing Financing in the Euro Area
Author:
Giancarlo Corsetti
,
Joao B. Duarte
, and
Samuel Mann
Volume/Issue:
Volume 2020: Issue 108
Publisher:
International Monetary Fund
ISBN:
9781513548746
ISSN:
1018-5941
Pages:
63
DOI:
https://doi.org/10.5089/9781513548746.001