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dc.contributor.authorTomura, Hajimeen
dc.date.accessioned2011-12-15T12:56:59Z-
dc.date.available2011-12-15T12:56:59Z-
dc.date.issued2008-
dc.identifier.pidoi:10.34989/swp-2008-9en
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
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Working Paper |x2008-9en
dc.subject.jelE44en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordBusiness fluctuations and cyclesen
dc.subject.keywordCredit and credit aggregatesen
dc.subject.stwKonjunkturen
dc.subject.stwImmobilienmarkten
dc.subject.stwImmobilienpreisen
dc.subject.stwTerms of Tradeen
dc.subject.stwKleines-offenes-Landen
dc.subject.stwKanadaen
dc.titleA model of housing boom and bust in a small open economy-
dc.typeWorking Paperen
dc.identifier.ppn568419766en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocawp:08-9en

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