Matches in SemOpenAlex for { <https://semopenalex.org/work/W1575144619> ?p ?o ?g. }
- W1575144619 abstract "This paper examines asymmetries in the impact of monetary policy on the middle segment of the South African housing market from 1966:M2 to 2011:M12. We use Markov-switching vector autoregressive (MS-VAR) in which parameters change according to the phase of the housing cycle. The results suggest that monetary policy is not neutral as house price growth decreases substantially with a contractionary monetary policy. We find that the impact of monetary policy is larger in bear regime than in bull regime; indicating the role of information asymmetry in reinforcing the financial constraint of economic agents. As expected, monetary policy reaction to a positive house price shock is found to be stronger in the bull regime. This suggests that central banker reacts more in bull regime in order to prevent potential crisis related to the subsequent bust in house prices bubbles which are more prominent in bull markets. These results substantiate important asymmetries in the dynamics of house prices in relation to monetary policy, vindicating the advantages of generating regime dependent impulse response functions." @default.
- W1575144619 created "2016-06-24" @default.
- W1575144619 creator A5014189498 @default.
- W1575144619 creator A5015669404 @default.
- W1575144619 creator A5032457474 @default.
- W1575144619 creator A5037771597 @default.
- W1575144619 creator A5069490299 @default.
- W1575144619 date "2012-07-01" @default.
- W1575144619 modified "2023-09-27" @default.
- W1575144619 title "Is the relationship between monetary policy and house prices asymmetric in South Africa? Evidence from a Markov-Switching Vector Autoregressive mode" @default.
- W1575144619 cites W105643929 @default.
- W1575144619 cites W1535254333 @default.
- W1575144619 cites W1537881002 @default.
- W1575144619 cites W1567338440 @default.
- W1575144619 cites W1588163064 @default.
- W1575144619 cites W1589827207 @default.
- W1575144619 cites W1933529014 @default.
- W1575144619 cites W1965741431 @default.
- W1575144619 cites W1972939665 @default.
- W1575144619 cites W1996788319 @default.
- W1575144619 cites W2007624743 @default.
- W1575144619 cites W2019873895 @default.
- W1575144619 cites W2027447060 @default.
- W1575144619 cites W2035251216 @default.
- W1575144619 cites W203968506 @default.
- W1575144619 cites W2043717193 @default.
- W1575144619 cites W2054038204 @default.
- W1575144619 cites W2055301823 @default.
- W1575144619 cites W2057496756 @default.
- W1575144619 cites W2067998406 @default.
- W1575144619 cites W2074812030 @default.
- W1575144619 cites W2086259877 @default.
- W1575144619 cites W2090299656 @default.
- W1575144619 cites W2095364399 @default.
- W1575144619 cites W2097580026 @default.
- W1575144619 cites W2100123682 @default.
- W1575144619 cites W2102471448 @default.
- W1575144619 cites W2131688695 @default.
- W1575144619 cites W2135613228 @default.
- W1575144619 cites W2146171062 @default.
- W1575144619 cites W2169107902 @default.
- W1575144619 cites W2170228645 @default.
- W1575144619 cites W2238114898 @default.
- W1575144619 cites W2519258565 @default.
- W1575144619 cites W25288802 @default.
- W1575144619 cites W3121142277 @default.
- W1575144619 cites W3121635982 @default.
- W1575144619 cites W3122580054 @default.
- W1575144619 cites W3122589741 @default.
- W1575144619 cites W3122694897 @default.
- W1575144619 cites W3122798122 @default.
- W1575144619 cites W3123050539 @default.
- W1575144619 cites W3123185352 @default.
- W1575144619 cites W3123722835 @default.
- W1575144619 cites W3123903023 @default.
- W1575144619 cites W3123923631 @default.
- W1575144619 cites W3124011686 @default.
- W1575144619 cites W3124125690 @default.
- W1575144619 cites W3125270728 @default.
- W1575144619 cites W3125336426 @default.
- W1575144619 cites W349412832 @default.
- W1575144619 cites W561387135 @default.
- W1575144619 hasPublicationYear "2012" @default.
- W1575144619 type Work @default.
- W1575144619 sameAs 1575144619 @default.
- W1575144619 citedByCount "0" @default.
- W1575144619 crossrefType "posted-content" @default.
- W1575144619 hasAuthorship W1575144619A5014189498 @default.
- W1575144619 hasAuthorship W1575144619A5015669404 @default.
- W1575144619 hasAuthorship W1575144619A5032457474 @default.
- W1575144619 hasAuthorship W1575144619A5037771597 @default.
- W1575144619 hasAuthorship W1575144619A5069490299 @default.
- W1575144619 hasConcept C119857082 @default.
- W1575144619 hasConcept C126285488 @default.
- W1575144619 hasConcept C126322002 @default.
- W1575144619 hasConcept C133029050 @default.
- W1575144619 hasConcept C149782125 @default.
- W1575144619 hasConcept C159877910 @default.
- W1575144619 hasConcept C162324750 @default.
- W1575144619 hasConcept C2781300812 @default.
- W1575144619 hasConcept C41008148 @default.
- W1575144619 hasConcept C556758197 @default.
- W1575144619 hasConcept C71924100 @default.
- W1575144619 hasConcept C98763669 @default.
- W1575144619 hasConceptScore W1575144619C119857082 @default.
- W1575144619 hasConceptScore W1575144619C126285488 @default.
- W1575144619 hasConceptScore W1575144619C126322002 @default.
- W1575144619 hasConceptScore W1575144619C133029050 @default.
- W1575144619 hasConceptScore W1575144619C149782125 @default.
- W1575144619 hasConceptScore W1575144619C159877910 @default.
- W1575144619 hasConceptScore W1575144619C162324750 @default.
- W1575144619 hasConceptScore W1575144619C2781300812 @default.
- W1575144619 hasConceptScore W1575144619C41008148 @default.
- W1575144619 hasConceptScore W1575144619C556758197 @default.
- W1575144619 hasConceptScore W1575144619C71924100 @default.
- W1575144619 hasConceptScore W1575144619C98763669 @default.
- W1575144619 hasLocation W15751446191 @default.
- W1575144619 hasOpenAccess W1575144619 @default.
- W1575144619 hasPrimaryLocation W15751446191 @default.
- W1575144619 hasRelatedWork W1524654850 @default.