The Effect of Monetary Policy on House Prices during the Covid-19 Pandemic in Norway
Master thesis
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Date
2022Metadata
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- Master of Science [1703]
Abstract
This thesis investigates the impact of monetary policy on the housing
market in Norway over the past twenty years, paying particular attention to
changes in the transmission of the policy rate to house prices during the Covid-19
pandemic. We also consider the effect of mobility and consumption restrictions
associated with the pandemic on this transmission, as well as changes in
household consumption, credit, and saving during the pandemic to give context to
the decisions made by households regarding investment in housing. We employ
local projections with rolling sample windows to compensate for the short time
span of the pandemic. Our results indicate that the response of house prices to the
policy rate in Norway was stronger during the Covid-19 pandemic relative to
normal times and to o
Description
Masteroppgave(MSc) in Master of Science in Applied Economics - Handelshøyskolen BI, 2022