We examine one of the secondary effects of the granting of Permanent Normal Trade Relations (PNTR) to China in October 2000: lower than expected house price appreciation. We consider housing prices for 2,800 US counties in a panel data setting for the years 1990 to 2020. We find that the 2000...

This study examines why monetary policy at the national level can have vastly different effects on appreciation rates of single family houses across metropolitan statistical areas (MSAs). The study employs Case/Shiller monthly house price index data for 19 MSAs from 1992:06 to 2014:12 and FHFA...