Monetary and Macroprudential Policy Transmission to Housing Prices in the Euro Area

19 euro area countries provide the basis for a panel VAR model analyzing real housing price dynamics. The dataset includes a real shadow rate to capture unconventional monetary policy and a self-constructed macroprudential policy index from the IMF database. Author Aleš Melecký uploaded the data to figshare under a CC-BY-4.0 license, with a last update timestamp of 2026-05-17.

Use Cases

• Modeling the state-dependent impact of monetary policy shocks on housing prices based on the zero lower bound condition.
• Assessing the marginal, lagged effect of macroprudential policy tightening on housing prices under unconventional monetary policy.
• Comparing the effectiveness of macroprudential policy in influencing housing prices between normal and zero lower bound periods.
• Replicating panel VAR model results using the real shadow rate and macroprudential policy index variables.

Strengths

• Analysis covers 19 euro area countries, providing a multi-country perspective.
• Dataset incorporates a self-constructed macroprudential policy index based on the IMF database.
• Results are robust to variable alterations and reordering within the Cholesky decomposition.
• The 259.7 KB size suggests a focused, manageable dataset for analysis.

Limitations

• Column-level documentation is absent; field semantics must be inferred after download.
• Row count is unknown, which may limit suitability assessment.
• Freshness should be verified as the last update is timestamped for a future date (2026-05-17).

Provenance

Source

figshare

Collection Method

Data likely compiled from IMF database and other sources for panel VAR modeling.

Freshness

Last updated 2026-05-17 07:20:43; freshness should be verified.

Geography

Euro Area (19 countries)