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78 Results

November 22, 2022

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.

House Price Responses to Monetary Policy Surprises: Evidence from the U.S. Listings Data

Staff Working Paper 2022-39 Denis Gorea, Oleksiy Kryvtsov, Marianna Kudlyak
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.
July 4, 2022

Household differences and why they matter

Differences in income, wealth and debt across households are important—for the economy, for the health of the financial system and for monetary policy.

Analyzing the house price boom in the suburbs of Canada’s major cities during the pandemic

Staff Analytical Note 2022-7 Louis Morel
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.
March 25, 2022

A world of difference: Households, the pandemic and monetary policy

Remarks (delivered virtually) Sharon Kozicki Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference San Francisco, California
Bank of Canada Deputy Governor Sharon Kozicki discusses how differences among households affect economic outcomes, how shocks can have important uneven effects across households, and why these things matter for monetary policy.
March 25, 2022

Household differences and why they matter

Speech summary Sharon Kozicki Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference San Francisco, California
Deputy Governor Sharon Kozicki talks about why differences in income, wealth and debt across households are important for the economy and what the Bank of Canada will be watching for as interest rates rise.

Housing demand in Canada: A novel approach to classifying mortgaged homebuyers

Staff Analytical Note 2022-1 Mikael Khan, Yang Xu
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.
Content Type(s): Staff research, Staff analytical notes Topic(s): Financial stability, Housing JEL Code(s): R, R2, R21, R3, R31
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