Battistini, Niccolò; Falagiarda, Matteo; Hackmann, Angelina - 2022
analysis shows that monetary policy propagates effectively to economic activity and house prices, albeit in a heterogeneous … fashion across regions. Although the housing channel plays a minor role in the transmission of monetary policy to the economy … on average, its importance increases in the case of unconventional monetary policy. We also explore the determinants of …