Download This PaperMoney and Housing: Evidence for the Euro Area and the Us
48 Pages Posted: 8 Jun 2016
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Money and Housing: Evidence for the Euro Area and the US
Deutsche Bundesbank Discussion Paper No. 12/2007
Number of pages: 48
Posted: 31 Mar 2008
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383
Date Written: 2007
Abstract
This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co-integrated money demand relationships can be established for both the euro area and the US. Furthermore, we find evidence for asset inflation channels, that is, liquidity fuels housing market developments.
Keywords: money demand, asset inflation, housing, wealth
JEL Classification: E52, E41
Suggested Citation: Suggested Citation
Greiber, Claus and Setzer, Ralph, Money and Housing: Evidence for the Euro Area and the Us (2007). Bundesbank Series 1 Discussion Paper No. 2007,12, Available at SSRN: https://ssrn.com/abstract=2785289 or http://dx.doi.org/10.2139/ssrn.2785289
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