Advanced Search
MyIDEAS: Login to save this article or follow this journal

The Role of the Housing Market in Monetary Transmission - Evidence from Hungary

Contents:

Author Info

  • Gergely Kiss
  • G�bor Vadas

Abstract

The housing market becomes more essential in monetary policy. This paper attempts to analyse the role of the housing market in the monetary transmission mechanism with special focus on Hungary. The study first summarizes the experiences of developed countries, paying special attention to issues arising from the monetary union. It then examines the developments in the Hungarian housing and mortgage markets in the last years, as well as the expected developments and changes attendant to the adoption of the euro. Using different econometric techniques such as time series, panel and pooled-mean-group (PMG) estimators, the study investigates the link between macro-economic variables and house prices in Hungary, and the effect of monetary policy on housing investment and consumption. Apart from the standard transmission channels, we identified two other effects, which influence the role of the Hungarian housing market in monetary transmission. Looking ahead, the expected effects of the single monetary policy of the eurozone on the Hungarian markets are also discussed.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/14616710701477938&magic=repec||8674ECAB8BB840C6AD35DC6213A474B5
Download Restriction: Access to full text is restricted to subscribers.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Taylor and Francis Journals in its journal European Journal of Housing Policy.

Volume (Year): 7 (2007)
Issue (Month): 3 ()
Pages: 299-317

as in new window
Handle: RePEc:taf:eurjhp:v:7:y:2007:i:3:p:299-317

Contact details of provider:
Web page: http://www.informaworld.com/smpp/title~content=t713700559

Order Information:
Web: http://www.tandf.co.uk/journals/subscription.asp

Related research

Keywords: Housing; monetary transmission; mortgage market; house price;

Other versions of this item:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Buncic, Daniel & Martin Melecky, 2013. "Equilibrium Credit: The Reference Point for Macroprudential Supervisors," Economics Working Paper Series 1301, University of St. Gallen, School of Economics and Political Science.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:taf:eurjhp:v:7:y:2007:i:3:p:299-317. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.