
Khan, Hashmat and Abeer Reza (2016), "House Prices and Government Spending Shocks", Journal of Money, Credit and Banking
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This folder has two subfolders: 

1. "Empirical" contains data and codes to replicate Figure 1 of the paper. 
	- GOVSHK_KR.xls contains the data
	- Figure1.m estimates the VARs and structural impulse response functions and replicates Figure 1

2. "Model" contains Dynare files and matlab files to replicate Figures 4,5 and 6 of the paper. 
	- 
2a. Figure4_6.m replicates Figures 4 and 6. This file calls two dynare .mod files. 
	- Benchmark.mod contains a log-linearized version of the Benchmark model
	- Benchmark_Accom.mod contains a log-linearized version of the Benchmark model where monetary policy accommodates movements in government spending. 

2b. Figure5.m replicates Figure 5. This file, in turn calls 5 different dynare .mod files. 
	- FixedH.mod contains a version of the model where total housing stock is fixed. 
	- Struc.mod contains a version of the model with housing production where house prices are sticky. 
	- GHH.mod contains a version of the model with GHH preferences
	- Edgeworth.mod contains a version of the model with Edgeworth complementarity
	- Deep.mod contains a version of the model with deep habits


	