Aoki, Kosuke; Proudman, James; Vlieghe, Gertjan - Bank of England <London>
, thebusiness cycle, and inflation, on account of the pronouncedprocyclical pattern of house prices. Are house prices asymptom of … transmissionmechanism by which changes in short-term interest rates affectconsumption, the output gap, and hence inflation. It isimportant …
