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| 01901nam 2200313za 4500 |
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| 001 | 9.851307 |
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| 003 | CaOODSP |
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| 005 | 20221107154343 |
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| 007 | cr ||||||||||| |
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| 008 | 180206s2018 oncd obs f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2018-6E-PDF |
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| 100 | 1 |aZhou, Xiaoqing. |
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| 245 | 10|aHome equity extraction and the boom-bust cycle in consumption and residential investment |h[electronic resource] / |cby Xiaoqing Zhou. |
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| 260 | |a[Ottawa] : |bBank of Canada, |c2018. |
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| 300 | |aii, 54 p. : |bcharts (some col.) |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2018-6 |
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| 500 | |a"February 2018." |
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| 504 | |aIncludes bibliographical references (p. 33-35). |
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| 520 | 3 |a“The consumption boom-bust cycle in the 2000s coincided with large fluctuations in the volume of home equity borrowing. Contrary to conventional wisdom, I show that homeowners largely borrowed for residential investment and not consumption. I rationalize this empirical finding using a calibrated two-goods, multiple-assets, heterogeneous-agent life-cycle model with borrowing frictions. The model replicates key features of the household-level and aggregate data. The model offers an alternative explanation of the consumption boom-bust cycle. This cycle is caused by large fluctuations in the number of borrowers and hence in total home equity borrowing, even though the fraction of borrowed funds spent on consumption is small"--Abstract, p. ii. |
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| 546 | |aIncludes abstract in French. |
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| 692 | 07|2gccst|aHousing |
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| 692 | 07|2gccst|aCredit |
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| 693 | 4|aEconometric models |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2018-6|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s751 KB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-6-eng.pdf |
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