Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/148148
Authors: 
Allen, Jason
Grieder, Timothy
Peterson, Brian
Roberts, Tom
Year of Publication: 
2016
Series/Report no.: 
Bank of Canada Staff Working Paper 2016-41
Abstract: 
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. Policies targeting the loan-to-value ratio are found to have a larger impact than policies targeting the debtservice ratio, such as amortization. This is because there are more wealth-constrained borrowers than income-constrained borrowers entering the housing market.
Subjects: 
Financial system regulation and policies
JEL: 
D14
G28
C63
Document Type: 
Working Paper

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