Gauging Housing Supply in Canada: A Stock Approach
IMF Working Papers, June 22, 2015
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- Gauging Housing Supply in Canada: A Stock Approach
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Bibliographic details
- Authors: Julien Reynaud
- Published: June 22, 2015
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781513577784.001
Summary
- Author: Julien Reynaud
- Publication date: June 22, 2015
- Series: Working Paper No. 2015/128
- Volume: 2015; Issue: 128; Pages: 17
- DOI: https://doi.org/10.5089/9781513577784.001
- ISBN: 9781513577784
- ISSN: 1018-5941
- Stock No: WPIEA2015128
- Core objective: Estimates Canada’s housing stock to gauge the supply-side component of the recent exuberance in the Canadian housing sector.
- Key conclusion: The model predicts an excess supply in the order of ½ percent above the housing stock level consistent with fundamentals as of 2013.
Data and Methodology
- Time span analyzed: 1980-2013
- Geographic scope: Provincial level (Canada)
- Primary focus: Housing units; reconstruction of housing stock and households series
- Econometric approach: Error correction model estimated at the provincial level to measure housing stock disequilibrium
Main Findings
- The error correction model indicates a measure of housing stock disequilibrium.
- Quantified disequilibrium: an excess supply in the order of ½ percent above the housing stock level consistent with fundamentals as of 2013.
Subjects and Keywords
- Subject: Financial institutions, Housing, Housing prices, National accounts, Prices, Stocks
- Keywords: Canada, excess supply, Housing, Housing prices, housing stock, housing unit, Real Estate, resale housing price movement, stock equilibrium, stock model, Stocks, WP
Source: IMF Working Papers — "Gauging Housing Supply in Canada: A Stock Approach" by Julien Reynaud (Working Paper No. 2015/128, June 22, 2015).
Content in this bundle
- 2. Estimation Results