Brian Peterson - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T18:49:26+00:00Unregulated Lending, Mortgage Regulations and Monetary Policy
https://www.bankofcanada.ca/2022/06/staff-working-paper-2022-28/
This paper evaluates the effectiveness of macroprudential policies when regulations are uneven across mortgage lender types. We look at credit tightening that results from macroprudential regulations and examine how much of it is counteracted by credit shifting to unregulated lenders. We also study the impact of monetary policy tightening when some lenders are unregulated.2022-06-27T10:05:32+00:00enUnregulated Lending, Mortgage Regulations and Monetary Policy2022-06-27Financial institutionsFinancial system regulation and policiesMonetary policy transmissionStaff Working Paper 2022-28https://www.bankofcanada.ca/wp-content/uploads/2022/06/swp2022-28.pdfStaff Working Paper 2022-28Ugochi EmenoguBrian PetersonJune 2022EE4E44E5E50E52E58GG2G21G23G28Home Equity Extraction and Household Spending in Canada
https://www.bankofcanada.ca/2019/09/staff-analytical-note-2019-27/
We use rich microdata to measure home equity extraction in Canada and track its evolution over time. We find home equity extraction has been rising in recent years and has likely contributed materially to dynamics in household spending.2019-09-20T06:00:07+00:00enHome Equity Extraction and Household Spending in Canada2019-09-20Interest Rate and Renewal Risk for Mortgages
https://www.bankofcanada.ca/2018/06/staff-analytical-note-2018-18/
In this note, we explore two types of risk faced by holders of mortgages and home equity lines of credit (HELOCs) in the context of rising interest rates: interest rate risk and renewal risk.2018-06-05T14:04:41+00:00enInterest Rate and Renewal Risk for Mortgages2018-06-05Household Risk Assessment Model
https://www.bankofcanada.ca/2016/09/technical-report-106/
Household debt can be an important source of vulnerability to the financial system. This technical report describes the Household Risk Assessment Model (HRAM) that has been developed at the Bank of Canada to stress test household balance sheets at the individual level.2016-09-12T14:12:27+00:00frHousehold Risk Assessment Model2016-09-12Financial stabilityHousingSectoral balance sheetTechnical Report 106https://www.bankofcanada.ca/wp-content/uploads/2016/09/tr106.pdfHousehold Risk Assessment ModelBrian PetersonTom RobertsSeptember 2016CC0C6C63C65DD0D1D14The Impact of Macroprudential Housing Finance Tools in Canada: 2005–10
https://www.bankofcanada.ca/2016/08/staff-working-paper-2016-41/
This paper combines loan-level administrative data with household-level survey data to analyze the impact of recent macroprudential policy changes in Canada using a microsimulation model of mortgage demand of first-time homebuyers.2016-08-25T14:25:34+00:00frThe Impact of Macroprudential Housing Finance Tools in Canada: 2005–102016-08-25Financial system regulation and policiesStaff Working Paper 2016-41https://www.bankofcanada.ca/wp-content/uploads/2016/08/swp2016-41.pdfThe Impact of Macroprudential Housing Finance Tools in Canada: 2005–10Jason AllenTimothy GriederBrian PetersonTom RobertsAugust 2016CC6C63DD1D14GG2G28Credit Cards: Disentangling the Dual Use of Borrowing and Spending
https://www.bankofcanada.ca/2015/12/staff-analytical-note-2015-3/
Over the past 15 years, aggregate credit card balances have been increasing, except for a brief spell in the aftermath of the 2007–09 financial crisis. Determining whether the growing balances are due to increased usage of credit cards as a method of payment or whether they reflect increased short-term borrowing is challenging because aggregate balances are snapshots of charges on credit cards before households make their monthly payments.2015-12-14T12:34:51+00:00enCredit Cards: Disentangling the Dual Use of Borrowing and Spending2015-12-14Medium-Term Fluctuations in Canadian House Prices
https://www.bankofcanada.ca/wp-content/uploads/2012/02/boc-review-winter11-12-peterson.pdf
This article draws on theory and empirical evidence to examine a number of factors behind movements in Canadian house prices. It begins with an overview of the movements in house prices in Canada, using regional data to highlight factors that influence prices over the long run. It then turns to the central theme, that there are medium-run movements in prices not accounted for by long-run factors. Drawing on recent Bank of Canada research, the article discusses several factors behind these medium-run movements, including interest rates, expected price appreciation and market liquidity. The article concludes by identifying areas for future research that would further our understanding of fluctuations in house prices.2012-02-23T10:05:48+00:00enMedium-Term Fluctuations in Canadian House Prices2012-02-23Fooled by Search: Housing Prices, Turnover and Bubbles
https://www.bankofcanada.ca/2012/02/working-paper-2012/
his paper develops and estimates a model to explain the behaviour of house prices in the United States. The main finding is that over 70% of the increase in house prices relative to trend during the increase of house prices in the United States from 1995 to 2006 can be explained by a pricing mechanism where market participants are ‘Fooled by Search.’2012-02-08T10:52:39+00:00enFooled by Search: Housing Prices, Turnover and Bubbles2012-02-08Asset pricingBusiness fluctuations and cyclesWorking Paper 2012-3https://www.bankofcanada.ca/wp-content/uploads/2012/02/wp2012-03.pdfFooled by Search: Housing Prices, Turnover and BubblesBrian PetersonFebruary 2012EE3RR2R21