Kilian, Lutz; Zhou, Xiaoqing - 2018
response of Canadian housing markets to oil price shocks. We document that, at the national level, real oil price shocks … account for 11% of the variability in real house price growth over time. At the regional level, we find that unexpected … increases in the real price of oil raise real house prices not only in oil-producing regions, but also in other regions. We …