Periodic Reporting for period 1 - HANK-w-HOUSING (MONETARY POLICY, HETEROGENEITY, AND THE HOUSING CHANNEL) Reporting period: 2020-06-01 to 2021-05-31 Summary of the context and overall objectives of the project Due to the travel restrictions imposed by the Covid-19 pandemic Serdar Ozkan was not be able to move from Canada to the European University Institute and to implement his MSCA project therefore the project never actually started and was terminated. Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far Due to the travel restrictions imposed by the Covid-19 pandemic Serdar Ozkan was not be able to move from Canada to the European University Institute and to implement his MSCA project therefore the project never actually started and was terminated. Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far) Due to the travel restrictions imposed by the Covid-19 pandemic Serdar Ozkan was not be able to move from Canada to the European University Institute and to implement his MSCA project therefore the project never actually started and was terminated.