D84 - Expectations; Speculations - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:24:14+00:00The Formation of House Price Expectations in Canada: Evidence from a Randomized Information Experiment
https://www.bankofcanada.ca/2019/08/staff-analytical-note-2019-24/
We conduct a randomized information experiment leveraging the Canadian Survey of Consumer Expectations. We provide causal evidence that respondents revise both their short- and medium-term expectations of future house price growth in a way that is consistent with observed short-term momentum in house prices. However, empirically, house price growth tends to revert to its mean in the medium term.2019-08-06T12:28:17+00:00enThe Formation of House Price Expectations in Canada: Evidence from a Randomized Information Experiment2019-08-06Are Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments
https://www.bankofcanada.ca/2019/08/staff-working-paper-2019-27/
Most models in finance assume that agents make trading plans over the infinite future. We consider instead that they are boundedly rational and may only form forecasts over a limited horizon.2019-08-01T10:19:48+00:00enAre Long-Horizon Expectations (De-)Stabilizing? Theory and Experiments2019-08-01Asset pricingCentral bank researchEconomic modelsFinancial marketsStaff Working Paper 2019-27https://www.bankofcanada.ca/wp-content/uploads/2019/08/swp2019-27.pdfAre Long-Horizon Expectations (De-)Stabilizing? Theory and ExperimentsGeorge EvansCars HommesIsabelle SalleBruce McGoughAugust 2019CC9C92DD8D84ECentral Bank Communication That Works: Lessons from Lab Experiments
https://www.bankofcanada.ca/2019/06/staff-working-paper-2019-21/
We use controlled laboratory experiments to test the causal effects of central bank communication on economic expectations and to distinguish the underlying mechanisms of those effects. In an experiment where subjects learn to forecast economic variables, we find that central bank communication has a stabilizing effect on individual and aggregate outcomes and that the size of the effect varies with the type of communication.2019-06-13T09:11:50+00:00enCentral Bank Communication That Works: Lessons from Lab Experiments2019-06-13Monetary policy implementationMonetary policy transmissionStaff Working Paper 2019-21https://www.bankofcanada.ca/wp-content/uploads/2019/06/swp2019-21.pdfCentral Bank Communication That Works: Lessons from Lab ExperimentsOleksiy KryvtsovLuba PetersenJune 2019CC9DD8D84EE3E5E52Non-Resident Taxes and the Role of House Price Expectations
https://www.bankofcanada.ca/2019/03/staff-analytical-note-2019-8/
In recent years, the governments of Ontario and British Columbia have imposed taxes on purchases by non-Canadian residents of residential properties in certain jurisdictions.2019-03-15T10:04:54+00:00enNon-Resident Taxes and the Role of House Price Expectations2019-03-15