Fig. 8

Residential housing—interest rate effect across Swiss monitoring. Notes: Displayed coefficients correspond to yields on governmental bonds with 10-year maturity for each monitoring region in Switzerland. The coefficients are the results of a fixed-effect panel regression capturing 106 Swiss MS-regions between 2005 Q1 and 2018 Q4 (56 quarters) analogous to the baseline regression model in Table 2 model 1. Signif. codes: “***” 0.001, “**” 0.01, “*” 0.05, “.” 0.1