The inflation measure used by the European Central Bank excludes housing costs that are borne by home owners even though they make up more than a tenth of household final consumption expenditure in the euro area. Has the exclusion of owner-occupied housing costs driven a wedge between the...

The trend rise of house prices in many OECD countries suggests weakness in the adjustment of supply to demand. This paper estimates long-term elasticities of housing supply to prices in OECD countries before exploring their drivers with a focus on policies. It finds a significant association...

Housing markets are large and highly volatile: they can thus create large macroeconomic risks. The current paper provides a bird’s eye view of where the housing markets of major OECD economies currently stand. It then uses the results of recently developed models to provide indications of...

The COVID-19 pandemic has led to a significant shift in the way people work, with an increasing number of individuals opting to work from home. Fewer commutes allow people to live further away from the city centre, where jobs typically concentrate. Against this background, this paper tests the...

The housing sector is one of the main sources of CO2 emissions in OECD countries, accounting for over a quarter of the total. Robust and rapid action is required to reach the net zero emission target by 2050. Decarbonising housing involves halting the use of fossil fuels in homes, ensuring that...