The paper presents a stylised framework to analyse conditions under which monetary policy contributes to amplified movements in the housing market. Extending work by Hyun Shin (2005), the paper analyses self enforcing feedback mechanisms resulting in amplifier effects in a credit constrained...

Digital technology has dramatically changed the structure of many industrial sectors. The rise of the Internet and increased broadband access have given rise to new business models and strategies for firms dealing with both electronic and physical goods. Industrial Organization and the Digital...

In the wake of the recent European debt crisis, the European Central Bank (ECB) has grown significantly in importance. As the crisis worsened, the ECB needed to take measures that went far beyond standard monetary policy operations - particularly with respect to its function as lender of last...