Work detail

The Effect of Unconventional Monetary Policy of ECB on Housing Prices

Author: Bc. Vojtěch Górecki
Year: 2018 - summer
Leaders: prof. Roman Horváth Ph.D.
Consultants:
Work type: Bachelors
Language: English
Pages: 77
Awards and prizes:
Link: https://is.cuni.cz/webapps/zzp/detail/191636/
Abstract: Thethesisexaminestherelationshipbetweentheunconventional monetary
policyofECBandhousing markets. Weconducttheempiricalanalysison
quarterlypaneldataconsistingofvariablesfromselectedeuroareacountries
overtheperiod2007Q4-2017Q4. Theunconventional monetarypolicyis
measuredwiththe Wu-XiaShadowrate. ThepanelVAR modelestimation
providesonlyweakevidenceonthepositiveeffectoftheunconventionalmonetarypolicyonhousingprices.
Theevidenceonthe mortgageratesis more
convincinginestimatingsignificantresponsethatspansovertwoyearswith
peakatoneyearmark.Theresultsoftheindividualcountryanalysisindicate
theheterogeneityofresponses,whiletheeffectislesssignificantincountries
thatweremoreaffectedbythefinancialandsovereigndebtcrisis.
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