One Money, Many Markets : Monetary Transmission and Housing Financing in the Euro Area / Giancarlo Corsetti, Joao Duarte, Samuel Mann.

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Bibliographic Details
Online Access: Full Text (via IMF e-Library)
Main Author: Corsetti, Giancarlo
Other Authors: Duarte, Joao, Mann, Samuel
Format: eBook
Language:English
Published: Washington, D.C. : International Monetary Fund, 2020.
Series:IMF working paper ; WP/2020/108.

MARC

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245 1 0 |a One Money, Many Markets :   |b Monetary Transmission and Housing Financing in the Euro Area /  |c Giancarlo Corsetti, Joao Duarte, Samuel Mann. 
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520 3 |a We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption, consumer prices, and variables related to local housing and labor markets. Building a small open economy model featuring a housing sector and calibrating it to Spain, we show that varying the share of adjustable-rate mortgages and loan-to-value ratios explains up to one-third of the cross-country heterogeneity in the responses of output and private consumption. 
588 |a Description based on print version record. 
700 1 |a Duarte, Joao. 
700 1 |a Mann, Samuel. 
776 0 8 |i Print Version:  |a Corsetti, Giancarlo  |t One Money, Many Markets: Monetary Transmission and Housing Financing in the Euro Area  |d Washington, D.C. : International Monetary Fund, 2021.  |z 9781513548746. 
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