The Effect of Unconventional Monetary Policy of ECB on Housing Prices
| Autor: | Bc. Vojtěch Górecki |
|---|---|
| Rok: | 2018 - letní |
| Vedoucí: | prof. Roman Horváth Ph.D. |
| Konzultant: | |
| Typ práce: | Bakalářská |
| Jazyk: | Anglicky |
| Stránky: | 77 |
| Ocenění: | |
| Odkaz: | https://is.cuni.cz/webapps/zzp/detail/191636/ |
| Abstrakt: | 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. |
