Aastveit, Knut Are; Anundsen, André K. - 2017
The responsiveness of house prices to monetary policy shocks depends both on the nature of the shock - expansionary … hypothesis that expansionary monetary policy shocks have a larger impact on house prices when supply elasticities are low on 263 … should have a greater impact on house prices than expansionary shocks, as long as supply is not perfectly inelastic. For …