Housing and Monetary Policy in Japan
نویسنده
چکیده
The first two methods seem appropriate for the measuring of the “cost of living,” as they cover the consumption of the service produced by housing. The payments method reflects the actual outlay for owning a dwelling for shelter purposes; it can be regarded as a simplified version of the user cost method. The user cost method, as adopted by Canada and Sweden, includes the opportunity cost of owning a dwelling (the interest rate) and expected changes in house prices, in addition to relative price of houses, depreciation, tax, repairs and maintenance. There is an issue as to whether we should include the price of the land in the calculation of user cost, an issue which has important policy implications for the transmission mechanism of monetary policy in the case of Japan. Housing and Monetary Policy in Japan
منابع مشابه
بررسی بازار مسکن در مکانیسم انتقال پولی
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