{
  "title": "Gauging Housing Supply in Canada: A Stock Approach",
  "publication": "IMF Working Papers, June 22, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/gauging-housing-supply-in-canada-a-stock-approach-43016",
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  "summary": "This paper estimates Canada’s housing stock to gauge the supply-side component of the recent exuberance in the Canadian housing sector. The paper adds to the current related literature by focusing on housing units and reconstructing housing stock and households series.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Author: Julien Reynaud\n- Publication date: June 22, 2015\n- Series: Working Paper No. 2015/128\n- Volume: 2015; Issue: 128; Pages: 17\n- DOI: https://doi.org/10.5089/9781513577784.001\n- ISBN: 9781513577784\n- ISSN: 1018-5941\n- Stock No: WPIEA2015128\n- Core objective: Estimates Canada’s housing stock to gauge the supply-side component of the recent exuberance in the Canadian housing sector.\n- 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."
    },
    {
      "heading": "Data and Methodology",
      "content": "- Time span analyzed: 1980-2013\n- Geographic scope: Provincial level (Canada)\n- Primary focus: Housing units; reconstruction of housing stock and households series\n- Econometric approach: Error correction model estimated at the provincial level to measure housing stock disequilibrium"
    },
    {
      "heading": "Main Findings",
      "content": "- The error correction model indicates a measure of housing stock disequilibrium.\n- Quantified disequilibrium: an excess supply in the order of ½ percent above the housing stock level consistent with fundamentals as of 2013."
    },
    {
      "heading": "Subjects and Keywords",
      "content": "- Subject: Financial institutions, Housing, Housing prices, National accounts, Prices, Stocks\n- Keywords: Canada, excess supply, Housing, Housing prices, housing stock, housing unit, Real Estate, resale housing price movement, stock equilibrium, stock model, Stocks, WP\n\nSource: IMF Working Papers — \"Gauging Housing Supply in Canada: A Stock Approach\" by Julien Reynaud (Working Paper No. 2015/128, June 22, 2015).\n\n---\n\n Content in this bundle\n\n- 2. Estimation Results\n  - 2. Estimation Results (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 2. Estimation Results (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/gauging-housing-supply-in-canada-a-stock-approach-43016"
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    "Authors: Julien Reynaud",
    "Published: June 22, 2015",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513577784.001",
    "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.",
    "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",
    "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.",
    "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",
    "**2. Estimation Results**"
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