In this paper, we seek to quantify the importance of state-level housing price spillovers and interest rate shocks to … importance of interstate housing price spillovers. Beyond real house prices and real income per capita, each state … importance of housing price spillovers is state dependent, with shocks occurring in states with relatively lower land supply …

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock … market gains. We also found statistically and economically significant housing wealth effects with a marginal propensity to …

housing market features and examine the monetary policy implications of housing-related disturbances. In particular, we derive … reinforce the existing evidence on the role of housing and mortgage markets for the US and provide new evidence on the … with the main features of optimal monetary policy response to housing-related shocks. …

Housing prices and household borrowing are expected to be tightly connected to each other. Better availability of … credit eases liquidity constraints of households, which is likely to lead to higher demand for housing. On the other hand …, housing prices may significantly influence household borrowing through various wealth effects. Employing time series …