Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/203633
Authors: 
Hirsch, Patrick
Year of Publication: 
2019
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2019: 30 Jahre Mauerfall - Demokratie und Marktwirtschaft - Session: Macroeconomics - Business Cycles No. D22-V3
Abstract: 
The euro area economies are bound together by monetary policy while still inhibiting many heterogeneities. Amongst them the share of homeowners. This paper presents a medium scale New Keynesian DSGE model of the euro area with an extensive housing market which explicitly models endogenous tenure choice. Results from the calibrated model indicate that there are various parameters determining the ownership rate. Dependent on the drivers of the homeownership, shocks have substantial heterogeneous effects on real variables when rates differ across countries.
Subjects: 
DSGE
ownership-rates
housing
heterogeneities
monetary union
JEL: 
E32
Document Type: 
Conference Paper

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