Can a US-style housing bust happen in Canada? Recent swings in Canadian house prices have raised concerns about the … the sharp decline in underwriting standards seen in the US, worked well in reducing the possibility of a housing bust in …

This paper quantitatively evaluates the hypothesis that the housing bust in 2007 decreased geographical reallocation …: Our findings suggest that, absent the housing bust, aggregate unemployment would have been 0.5 percentage point lower. …

This paper provides evidence that the recent housing bust in the United States precipitated a “credit crunch” for small … businesses. Using detailed records of individual bank’s lending history, we develop a measure of their exposure to the housing … bust. This measure is then used to estimate the impact of a drop in house prices on the supply of loans. Specifically, we …