I investigate how the structure of the mortgage market influences macroeconomic dynamics,
using a general equilibrium framework with prepayable debt and a limit on the ratio of …

To what extent did an expansion and contraction of credit drive the 2000s housing boom
and bust? The existing literature lacks consensus, with findings ranging from credit having …

Mortgages are long-term loans with nominal payments. Consequently, in incomplete asset
markets, monetary policy can affect housing investment and the economy through the cost of …

This article summarizes research on the macroeconomic aspects of the housing market. In
terms of the macroeconomic stylized facts, this article demonstrates that with respect to …

Using data on house sales and inventories, this paper shows that housing transactions are
driven mainly by listings and less so by transaction speed, thus the decision to move house …

This paper develops a business cycle model of the housing market with search frictions and
entry of both buyers and sellers. The housing market exhibits a well-established cyclical …

This article provides out-of-sample forecasts of linear and nonlinear models of US and four
Census subregions' housing prices. The forecasts include the traditional point forecasts, but …

This paper provides an empirical analysis of the role of house prices in determining the
dynamic behaviour of consumption in South Africa using a panel vector autoregression …

This paper analyzes the effectiveness of three different types of education policies: tuition
subsidies (broad based, merit based, and flat tuition), grant subsidies (broad based and …

This paper develops a model of the housing market with search and credit frictions. The
interaction between the two sources of friction gives rise to a novel channel through which …