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Bank of Canada RSS Feedsen2024-03-29T10:20:55+00:00Can the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect?
https://www.bankofcanada.ca/2016/12/staff-working-paper-2016-62/
The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing and non-housing demand are noisy and housing supply is not perfectly elastic.2016-12-30T09:39:12+00:00enCan the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect?2016-12-30Economic modelsHousingStaff Working Paper 2016-62https://www.bankofcanada.ca/wp-content/uploads/2016/12/swp2016-62.pdfCan the Common-Factor Hypothesis Explain the Observed Housing Wealth Effect?Narayan BulusuJefferson DuarteCarles Vergara-AlertDecember 2016EE2E21RR3R31