Housing-market heterogeneity in a monetary union
This paper studies the implications of cross-country housing-market heterogeneity in a monetary union for both shock transmission and welfare. I develop a two-country new Keynesian general equilibrium model with housing and collateral constraints to explore this issue. The conventional wisdom is tha...
| Main Author: | Rubio, Margarita |
|---|---|
| Format: | Article |
| Published: |
Elsevier
2014
|
| Subjects: | |
| Online Access: | https://eprints.nottingham.ac.uk/46405/ |
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