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dc.contributor.authorTomura, Hajimeen_US
dc.date.accessioned2011-12-15T12:56:59Z-
dc.date.available2011-12-15T12:56:59Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/53861-
dc.description.abstractThis paper considers a dynamic stochastic general equilibrium model for a small open economy and finds that an improvement in the terms of trade causes a housing boom-bust cycle if the duration of the improvement is uncertain. It is shown that as the economy has better access to the international financial market, the extent of the housing boom and bust gets larger. Also, an increase in the loan-to-value ratio in the domestic mortgage market tends to enhance the extent of the housing boom and bust when the economy has good access to the international financial market.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Working Paper 2008,9en_US
dc.subject.jelE44en_US
dc.subject.jelF41en_US
dc.subject.ddc330en_US
dc.subject.keywordBusiness fluctuations and cyclesen_US
dc.subject.keywordCredit and credit aggregatesen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwImmobilienmarkten_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwTerms of Tradeen_US
dc.subject.stwKleines-offenes-Landen_US
dc.subject.stwKanadaen_US
dc.titleA model of housing boom and bust in a small open economyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn568419766en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Working Papers

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