Housing wealth effects for private and subsidized homeowners
Purpose This paper aims to examine the effect of housing wealth on household
consumption when there are resale and refinancing constraints that prevent housing assets …
consumption when there are resale and refinancing constraints that prevent housing assets …
A new look at historical monetary policy (and the great inflation) through the lens of a persistence-dependent policy rule
The origins of the Great Inflation, a central 20th-century US macroeconomic event, remain
contested. Prominent explanations are poor inflation forecasts or inaccurate output gap …
contested. Prominent explanations are poor inflation forecasts or inaccurate output gap …
The asymmetric wealth effects of housing market and stock market on consumption in China
X Zhou, MS Chang, K Gibler - Journal of the Asia Pacific Economy, 2016 - Taylor & Francis
We analyze consumption movements as a function of income and wealth (stocks and
housing) with data from China from 1999 to 2010 using a panel vector autoregression …
housing) with data from China from 1999 to 2010 using a panel vector autoregression …
Finding a stable Phillips curve relationship: A persistence-dependent regression model
R Ashley, RJ Verbrugge - 2020 - clevelandfed.org
We establish that the Phillips curve is persistence-dependent: inflation responds differently
to persistent versus moderately persistent (or versus transient) fluctuations in the …
to persistent versus moderately persistent (or versus transient) fluctuations in the …
Frequency dependence in a real-time monetary policy rule
We estimate a monetary policy rule for the US allowing for possible frequency dependence-
ie, allowing the central bank to respond differently to more persistent innovations than to …
ie, allowing the central bank to respond differently to more persistent innovations than to …
What Can Fifty-Two Collateralizable Wealth Measures Tell Us About Future Housing Market Returns? Evidence from US State-Level Data
We use a novel US state-level database to evaluate the role of housing wealth as a provider
of collateral services. First, we estimate the cointegrating relationship between housing …
of collateral services. First, we estimate the cointegrating relationship between housing …
Housing and stock market nexus in the US
FL Lin, MC Wang, HH Kung - 2020 - um.edu.mt
Purpose: The research aims to study the causality between the US stock and housing
markets in the period from 1890 to 2014. Design/Methodology/Approach: The Granger …
markets in the period from 1890 to 2014. Design/Methodology/Approach: The Granger …
All fluctuations are not created equal: The differential roles of transitory versus persistent changes in driving historical monetary policy
The historical analysis of FOMC behavior using estimated simple policy rules requires the
specification of either an estimated natural rate of unemployment or an output gap. But in the …
specification of either an estimated natural rate of unemployment or an output gap. But in the …
[PDF][PDF] Finding a Stable Phillips Curve Relationship: A Persistence-Dependent (And Business-Cycle-Phase-Dependent) Regression Model
R Ashley, R Verbrugge - 2020 - ashleyrecon.s4.es.cloud.vt.edu
We establish that the Phillips curve is persistence-dependent: inflation responds differently
to persistent versus moderately persistent (or versus transient) fluctuations in the …
to persistent versus moderately persistent (or versus transient) fluctuations in the …
Cross-Regional Connectedness in the United States' Housing Market
W Yin - E3S Web of Conferences, 2021 - e3s-conferences.org
The interconnectedness of markets is a useful measure of risk and therefore an indicator of
economic stability. In this paper, the interconnectedness among housing markets in different …
economic stability. In this paper, the interconnectedness among housing markets in different …