Pick adeveloped economy with an inflation-targeting central bank. Use their national statistical

office or other international (e.g. the OECD) sources to find a historical data series for real

house price growth, inflation and GDP growth. Did a house price boom precede the most

recent recession? Does the central bank in the country you have chosen include house prices

(or equivalent) in the measure of inflation which underpins their inflation-targeting regime? If

not, then what is theirjustification? Does the data you have collected suggest their choice (of

whether to include house prices or not) has impacted their ability to fulfil their mandate (i.e.

keep the economy at target)?