This paper studies how the proportion of fixed‐and variable‐rate mortgages affects business
cycles and welfare. I develop and solve a New Keynesian dynamic stochastic general …

The recent global financial crisis has shaken the confidence of industrial and developing
countries alike in the very blueprint of the financial and macropolicies that underlie the …

This paper investigates the responses of house prices and household credit to monetary
policy shocks in Norway, using Bayesian structural VAR models. The analysis indicates that …

This paper provides new evidence on asymmetric interest rate pass-through in the US, the
UK and the Australian economies by using the Nonlinear Auto-Regressive Distributed Lag …

The recent boom in the housing markets of most developed economies has spurred criticism
that inflation targeting central banks may have neglected the build-up of financial …

This paper quantifies the importance of financial structure, labor market rigidities and
industry mix for the monetary transmission mechanism. To do so, I determine how closely …

The Chinese financial sector, despite having been developed at a much later stage
compared with other developed nations, has achieved substantial progresses over the past …

This article investigates the dynamic and long-run relationships between the monetary
policy and asset prices in China using monthly data from June 2005 to February 2012 …

The 2008 financial crisis demonstrates that studies on property price volatility are important
because it impacts domestic economic conditions. This study identifies the volatility of …

This paper explores the importance of housing and mortgage market heterogeneity in 12
European countries for the transmission of monetary policy. We use a panel VAR model …