Brian Peterson

Director

Brian Peterson is a Director in the Real Sector Stability Division in the Financial Stability Department. His primary interests include housing and household finance, macroprudential regulation and the assessment of risks to financial stability. Brian was previously an Assistant Professor at Indiana University. He obtained his PhD in Economics from the University of Pennsylvania.

Contact

Brian Peterson

Director
Financial Stability
Real Sector Stability

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

Interest Rate and Renewal Risk for Mortgages

Staff Analytical Note 2018-18 Olga Bilyk, Brian Peterson, Cameron MacDonald
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.

Household Risk Assessment Model

Technical Report No. 106 Brian Peterson, Tom Roberts
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.
Content Type(s): Technical Reports Topic(s): Financial stability, Housing, Sectoral balance sheet JEL Code(s): C, C0, C6, C63, C65, D, D0, D1, D14

The Impact of Macroprudential Housing Finance Tools in Canada: 2005–10

Staff Working Paper 2016-41 Jason Allen, Timothy Grieder, Brian Peterson, Tom Roberts
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.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Financial system regulation and policies JEL Code(s): C, C6, C63, D, D1, D14, G, G2, G28

Credit Cards: Disentangling the Dual Use of Borrowing and Spending

Staff Analytical Note 2015-3 Olga Bilyk, Brian Peterson
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.

February 23, 2012 Medium-Term Fluctuations in Canadian House Prices

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.

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Research Interests

  • Macroeconomics
  • Housing
  • Search markets

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