Replication data for: Housing Market Spillovers: Evidence from an Estimated DSGE Model

Principal Investigator(s): View help for Principal Investigator(s) Matteo Iacoviello; Stefano Neri

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aej_spillovers			10/12/2019 08:51:PM
LICENSE.txt	text/plain	14.6 KB	10/12/2019 04:51:PM

Project Citation:

Iacoviello, Matteo, and Neri, Stefano. Replication data for: Housing Market Spillovers: Evidence from an Estimated DSGE Model. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114168V1

Project Description

Summary: We study sources and consequences of fluctuations in the US housing market. Slow technological progress in the housing sector explains the upward trend in real housing prices of the last 40 years. Over the business cycle, housing demand and housing technology shocks explain one-quarter each of the volatility of housing investment and housing prices. Monetary factors explain less than 20 percent, but have played a bigger role in the housing cycle at the turn of the century. We show that the housing market spillovers are nonnegligible, concentrated on consumption rather than business investment, and have become more important over time. (JEL E23, E32, E44, O33, R31)

Scope of Project

JEL Classification:
      E23 Macroeconomics: Production
      E32 Business Fluctuations; Cycles
      E44 Financial Markets and the Macroeconomy
      O33 Technological Change: Choices and Consequences; Diffusion Processes
      R31 Housing Supply and Markets

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V1 [2019-10-12]

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