Blar i Arbeidsnotater / Working Papers på emneord "heterogeneity"
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Asymmetric effects of monetary policy in regional housing markets
(Working paper;25/2017, Working paper, 2017)The responsiveness of house prices to monetary policy shocks depends both on the nature of the shock – expansionary versus contractionary – and on city-specific housing supply elasticities. We test and find supporting ... -
Changing Supply Elasticities and Regional Housing Booms
(Working Paper;8/2019, Working paper, 2019)Recent developments in US house prices mirror those of the 1996-2006 boom, but the recovery in construction activity has been weak. Using data for 254 US metropolitan areas, we show hat housing supply elasticities have ...