Arbeitspapier
A model of housing boom and bust in a small open economy
This paper considers a dynamic stochastic general equilibrium model for a small open economy and finds that an improvement in the terms of trade causes a housing boom-bust cycle if the duration of the improvement is uncertain. It is shown that as the economy has better access to the international financial market, the extent of the housing boom and bust gets larger. Also, an increase in the loan-to-value ratio in the domestic mortgage market tends to enhance the extent of the housing boom and bust when the economy has good access to the international financial market.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Working Paper ; No. 2008-9
Klassifikation
Wirtschaft
Financial Markets and the Macroeconomy
Open Economy Macroeconomics
Financial Markets and the Macroeconomy
Open Economy Macroeconomics
Thema
Business fluctuations and cycles
Credit and credit aggregates
Konjunktur
Immobilienmarkt
Immobilienpreis
Terms of Trade
Kleines-offenes-Land
Kanada
Credit and credit aggregates
Konjunktur
Immobilienmarkt
Immobilienpreis
Terms of Trade
Kleines-offenes-Land
Kanada
Ereignis
Geistige Schöpfung
(wer)
Tomura, Hajime
Ereignis
Veröffentlichung
(wer)
Bank of Canada
(wo)
Ottawa
(wann)
2008
- DOI
-
doi:10.34989/swp-2008-9
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:23 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Tomura, Hajime
- Bank of Canada
Entstanden
- 2008
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