The housing market becomes more essential in monetary policy. This paper attempts to analyse the role of the housing market in the monetary transmission mechanism with special focus on Hungary. The study first summarizes the experiences of developed countries, paying special attention to issues...

As part of the monetary transmission studies of the Magyar Nemzeti Bank, this paper attempts to analyse the role of the housing market in the monetary transmission mechanism of Hungary. The housing market can influence monetary transmission through three channels, namely, the nature of the...