Canada : Selected Issues Paper

Author/Editor:

International Monetary Fund

Publication Date:

December 22, 2011

Electronic Access:

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Summary:

Canadian housing prices are higher than levels consistent with current fundamentals in some provinces. The empirical estimates suggest that a 10 percent decline in housing prices would lead to a 1¼ percent decline in private consumption. The high level of household leverage and housing prices could prove to be a source of vulnerability. The rebound in debt and housing prices after the crisis largely reflects the resilience of the financial system and the stronger economic recovery in Canada, as well as historically low interest rates.

Series:

Country Report No. 11/365

Subject:

English

Publication Date:

December 22, 2011

ISBN/ISSN:

9781463929237/1934-7685

Stock No:

1CANEA2011002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

45

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