Ryczkowski, Maciej - In: Journal of business economics and management 20 (2019) 3, pp. 546-572
Japan and the European Central Bank either did not assign a separate role to house prices in their reaction functions or the … two central banks were not capable to significantly increase house prices by extending money/credit during the business … cycle. The significant co-movements of financial variables and house prices around booming episodes warn us that a new asset …