Monetary Policy and Housing Overvaluation
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This paper examines how housing market overvaluationmeasured by the price-to-rent ratio and its deviations from long-term trendsaffects the transmission of monetary policy. Using U.S. metropolitan-level data and three measures of monetary policy shocks, we find that house prices respond more
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美国国家经济研究局创建时间：
2025-10-01
