COVID-19 Shocks, Monetary Policy, and Real Estate Price Volatility: Analysis Based on a Dynamic Stochastic General Equilibrium Perspective

Table 2

Bayes estimation results of the model.

Parameter	Prior distribution		Interest rule		Quantity rule
	Distr.	Mean	Posterior mean	Confidence interval	Posterior mean	Confidence interval
	Beta	0.8	0.7662	(0.7633, 0.7686)	0.8386	(0.7320, 0.9502)
	Beta	0.7	0.9193	(0.9158, 0.9226)	0.8313	(0.8151, 0.8439)
	Beta	0.8	0.7455	(0.7445, 0.7465)	0.8447	(0.8319, 0.8563)
	Beta	0.8	0.9973	(0.9951, 0.9993)	0.8972	(0.8809, 0.9180)
	Beta	0.8	0.8218	(0.8197, 0.8238)	0.4369	(0.4063, 0.4737)
	Beta	0.8	0.9152	(0.9117, 0.9181)	0.8700	(0.8295, 0.9208)
	Beta	0.8	0.9991	(0.9986, 0.9998)	0.8471	(0.8145, 0.8770)
	Inv.Gamma	0.1	0.0059	(0.0026, 0.0092)	0.0078	(0.0024, 0.0139)
	Inv.Gamma	0.1	0.0070	(0.0060, 0.0079)	0.2996	(0.2453, 0.3526)
	Inv.Gamma	0.1	0.0017	(0.0015, 0.0020)	0.2346	(0.1774, 0.3195)
	Inv.Gamma	0.1	0.0019	(0.0018, 0.0020)	0.0929	(0.0778, 0.1081)
	Inv.Gamma	0.1	0.2271	(0.2142, 0.2409)	0.1476	(0.0832, 0.1789)
	Inv.Gamma	0.1	0.1827	(0.1715, 0.1911)	0.0079	(0.0022, 0.0135)
	Inv.Gamma	0.1	0.0057	(0.0050, 0.0065)	0.0355	(0.0290, 0.0418)