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- W3144074646 abstract "I estimate the dynamic responses of owner-occupied housing prices to money supply shocks, and compare these responses to those predicted by a dynamic equilibrium model of the housing market. The empirical responses are identified from general sets of restrictions that are consistent with a wide class of theoretical models. Using monthly data, I find that money shocks have real effects on the housing market: both relative housing prices and real sales rise in the short-run in response to positive shocks to the money supply. The estimated price responses closely match the predictions of the theoretical model for reasonable values of the theoretical parameters." @default.
- W3144074646 created "2021-04-13" @default.
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- W3144074646 date "2000-01-01" @default.
- W3144074646 modified "2023-09-25" @default.
- W3144074646 title "The Real Price of Housing and Money Supply Shocks: Time Series Evidence and Theoretical Simulations" @default.
- W3144074646 hasPublicationYear "2000" @default.
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