general equilibrium housing model and find that these three factors together account for over half of the increase in house … due to higher demand for mortgage loans. This increases households’ savings in financial assets and leaves their housing … their wealth from financial assets to housing assets, which dramatically drives up house prices. …

In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the … effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness …

case study based on the Canadian housing market is presented. …

Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … inference is confounded by house price levels, which are systematically correlated with housing risk in an intuitive way: in …

The author proposes and evaluates econometric models that try to explain and forecast real quarterly housing … expenditures in Canada. Structural and leading-indicator models of the Canadian housing sector are described. The long … changes have occurred in how the housing market is driven. The author finds that the response of housing investment to …

In this paper, we investigate the effects of housing-related tax policy measures on macroeconomic aggregates using a … frictions in the form of collateral constraints tied to house prices, and a rental housing market alongside owner …-occupied housing. Using our model, we analyze the effects of changes in housing-related tax policy measures on the level of output, tax …