R2 - Household Analysis - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T10:27:20+00:00Predicting Changes in Canadian Housing Markets with Machine Learning
https://www.bankofcanada.ca/2023/09/staff-discussion-paper-2023-21/
We apply two machine learning algorithms to forecast monthly growth of house prices and existing homes sales in Canada. Although the algorithms can sometimes outperform a linear model, the improvement in forecast accuracy is not always statistically significant.2023-09-29T13:04:48+00:00enPredicting Changes in Canadian Housing Markets with Machine Learning2023-09-29Econometric and statistical methodsFinancial marketsHousingStaff Discussion Paper 2023-21https://www.bankofcanada.ca/wp-content/uploads/2023/09/sdp2023-21.pdfStaff Discussion Paper 2023-21Johan BrannlundHelen LaoMaureen MacIsaacJing YangSeptember 2023ACC4C45C5C53DD2RR2R3Unpacking Moving: A Quantitative Spatial Equilibrium Model with Wealth
https://www.bankofcanada.ca/2023/06/staff-working-paper-2023-34/
We propose a model to understand low observed migration rates by considering the interaction between location and wealth decisions. We look at different policies and find that temporary moving vouchers only slightly increase welfare, while lower housing regulations can decrease the welfare gap by lowering house prices nationwide.2023-06-12T10:32:23+00:00enUnpacking Moving: A Quantitative Spatial Equilibrium Model with Wealth2023-06-12HousingRegional economic developmentsStaff Working Paper 2023-34https://www.bankofcanada.ca/wp-content/uploads/2023/06/swp2023-34.pdfStaff Working Paper 2023-34Elisa GiannoneQi LiNuno PaixaoXinle PangJune 2023GG5G51RR1R12R13R2R3R31R5R52Geographical and Cultural Proximity in Retail Banking
https://www.bankofcanada.ca/2023/01/staff-working-paper-2023-2/
This paper measures how both geographical and cultural proximity of bank branches affect household credit choice and pricing. For credit products that require high levels of ex-ante screening, we find that both proximities can complement each other in reducing the cost of providing soft information, thereby increasing credit access.2023-01-05T07:36:06+00:00enGeographical and Cultural Proximity in Retail Banking2023-01-05Credit and credit aggregatesFinancial institutionsFinancial servicesStaff Working Paper 2023-2https://www.bankofcanada.ca/wp-content/uploads/2023/01/swp2023-2.pdfGeographical and Cultural Proximity in Retail BankingSantiago Carbo-ValverdeHéctor Pérez SaizHongyu XiaoJanuary 2023DD8D82D83GG2G20G21RR2R22ZZ1Z10Z13Tracking the financial vulnerabilities of households and the housing market
https://www.bankofcanada.ca/2022/11/tracking-the-financial-vulnerabilities-of-households-and-the-housing-market/
The Bank of Canada is publishing a new set of indicators of financial vulnerabilities. This will allow households, the private sector, financial authorities and governments to better understand and monitor the evolution of two key vulnerabilities in the financial system: the elevated level of household indebtedness and high house prices.2022-11-22T11:45:37+00:00enTracking the financial vulnerabilities of households and the housing market2022-11-22House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data
https://www.bankofcanada.ca/2022/09/staff-working-paper-2022-39/
Existing literature documents that house prices respond to monetary policy surprises with a significant delay, taking years to reach their peak response. We present new evidence of a much faster response.2022-09-20T08:15:42+00:00enHouse Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data2022-09-20HousingInflation and pricesInterest ratesMonetary policy transmissionStaff Working Paper 2022-39https://www.bankofcanada.ca/wp-content/uploads/2022/09/swp2022-39.pdfHouse Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings DataDenis GoreaOleksiy KryvtsovMarianna KudlyakSeptember 2022EE5E52RR2R21R3R31Analyzing the house price boom in the suburbs of Canada’s major cities during the pandemic
https://www.bankofcanada.ca/2022/06/staff-analytical-note-2022-7/
We assess how location affects house prices in Canada. The gap in prices between suburbs and downtown was closing gradually before the pandemic. The gap has been closing faster since spring 2020. This finding reflects a shift in preferences toward more living space.2022-06-20T10:00:06+00:00enAnalyzing the house price boom in the suburbs of Canada’s major cities during the pandemic2022-06-20Housing demand in Canada: A novel approach to classifying mortgaged homebuyers
https://www.bankofcanada.ca/2022/01/staff-analytical-note-2022-1/
We introduce a novel approach to categorize mortgaged homebuyers into first-time homebuyers, repeat homebuyers and investors. We show how these groups contribute to activity in Canadian housing markets, and we analyze the differences in their demographic and financial characteristics.2022-01-13T10:00:50+00:00enHousing demand in Canada: A novel approach to classifying mortgaged homebuyers2022-01-13Can the characteristics of new mortgages predict borrowers’ financial stress? Insights from the 2014 oil price decline
https://www.bankofcanada.ca/2021/09/staff-analytical-note-2021-22/
We study the relationship between characteristics of new mortgages and borrowers’ financial stress in Canada’s energy-intensive regions following the 2014 collapse in oil prices. We find that borrowers with limited home equity were more likely to have difficulty repaying debt.2021-09-22T15:00:12+00:00enCan the characteristics of new mortgages predict borrowers’ financial stress? Insights from the 2014 oil price decline2021-09-22Consumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation
https://www.bankofcanada.ca/2021/06/staff-working-paper-2021-28/
The physical network of bank branches is important in how consumers manage their cash holdings. This paper estimates how consumer withdrawal behaviour responds to the distance they must travel to their branch.2021-06-17T15:48:36+00:00enConsumer Cash Withdrawal Behaviour: Branch Networks and Online Financial Innovation2021-06-17Bank notesDigital currencies and fintechStaff Working Paper 2021-28https://www.bankofcanada.ca/wp-content/uploads/2021/06/swp2021-28.pdfStaff Working Paper 2021-28Heng ChenMatthew StrathearnMarcel VoiaJune 2021GG2G21RR2R22Detecting exuberance in house prices across Canadian cities
https://www.bankofcanada.ca/2021/05/staff-analytical-note-2021-9/
We introduce a model to detect periods of extrapolative house price expectations across Canadian cities. The House Price Exuberance Indicator can be updated on a quarterly basis to support the Bank of Canada’s broader assessment of housing market imbalances.2021-05-20T10:00:32+00:00enDetecting exuberance in house prices across Canadian cities2021-05-20