The Political Economy of the European Banking Union
The Political Economy of the European Banking Union ...
See page
Real Estate Transaction Taxes and Credit Supply
Michael Koetter, Philipp Marek, Antonios Mavropoulos
IWH Discussion Papers,
No. 26,
2022
Abstract
We exploit staggered real estate transaction tax (RETT) hikes across German states to identify the effect of house price changes on mortgage credit supply. Based on approximately 33 million real estate online listings, we construct a quarterly hedonic house price index (HPI) between 2008:q1 and 2017:q4, which we instrument with state-specific RETT changes to isolate the effect on mortgage credit supply by all local German banks. First, a RETT hike by one percentage point reduces HPI by 1.2%. This effect is driven by listings in rural regions. Second, a 1% contraction of HPI induced by an increase in the RETT leads to a 1.4% decline in mortgage lending. This transmission of fiscal policy to mortgage credit supply is effective across almost the entire bank capitalization distribution.
Read article
Postdoctoral Researcher in Financial Economics (f/m/x, 100%) [2023-06]
Vacancy Postdoctoral Researcher in Financial Economics (f/m/x,...
See page
Joint Economic Forecast
Joint Economic Forecast The joint economic forecast is an instrument for evaluating...
See page
Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one...
See page
PhD Courses
PhD Courses IWH-DPE Courses DPE courses website CGDE website Course materials: see Intranet, P:\Projekte\Doktoranden\Doktorandenkurse Courses at...
See page
Insights for Young Researchers in Finance
FYI – Insights for Young Researchers in Finance The Insights for Young Researchers...
See page
Mayer ref rec
Refereed Publications ...
See page
Bank Details
Bank Details Bank Details (PDF, 60 kB)
See page
