کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
966221 | 930939 | 2008 | 28 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The credit channel of monetary policy: Evidence from the housing market
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
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چکیده انگلیسی
This paper tests a credit channel of monetary policy (especially a bank-lending channel) in the housing market. We argue that the relevance of the credit channel depends on the structural features of the housing finance system, in particular efficiency and institutional organisation. We employ a VAR approach to analyse this issue in four housing markets (Finland, Germany, Norway and the UK). Our findings show across countries a clear-cut relationship between presence of the credit channel, efficiency of housing finance and type of institutions active in mortgage provision.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Macroeconomics - Volume 30, Issue 1, March 2008, Pages 69-96
Journal: Journal of Macroeconomics - Volume 30, Issue 1, March 2008, Pages 69-96
نویسندگان
Matteo Iacoviello, Raoul Minetti,