Bremus, Franziska; Krause, Thomas; Noth, Felix - 2021
-specific mortgage supply shocks affect aggregate mortgage, house price, and employment dynamics at the regional level. The larger the … idiosyncratic shocks to newly issued mortgages, the stronger are mortgage, house price, and employment growth. While shocks at the … level of shadow banks significantly affect mortgage and house price dynamics, too, they do not matter much for employment. …