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| 02360nam 2200325za 4500 |
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| 001 | 9.863291 |
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| 003 | CaOODSP |
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| 005 | 20221107161236 |
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| 007 | cr ||||||||||| |
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| 008 | 181016s2018 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 |aFB3-7/2018-32E-PDF |
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| 100 | 1 |aChernis, Tony. |
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| 245 | 10|aDisaggregating household sensitivity to monetary policy by expenditure category |h[electronic resource] / |cby Tony Chernis and Corinne Luu. |
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| 260 | |aOttawa : |bBank of Canada, |cc2018. |
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| 300 | |aiii, 20 p. : |bcol. charts. |
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| 490 | 1 |aStaff analytical note = Note analytique du personnel, |x2369-9639 ; |v2018-32 |
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| 500 | |aCover title. |
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| 504 | |aIncludes bibliographical references (p. 12). |
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| 520 | 3 |a"Because the Bank of Canada has started withdrawing monetary stimulus, monitoring the transmission of these changes to monetary policy will be important. Subcomponents of consumption and housing will likely respond differently to a monetary policy tightening, both in terms of the aggregate effect and timing. These differences may be informative for monitoring household responsiveness to, and tracking the transmission of , changes to monetary policy. The authors therefore estimate an empirical model to measure the effects of monetary policy shocks on household expenditures. We find that monetary policy shocks will have a greater, and generally quicker, effect on residential investment than they do on consumption. On average across interest-rate-sensitive subcomponents of real household expenditure, most of the impact is felt on the level after about seven quarters. For residential investment, new construction and ownership transfer costs are affected the most. For consumption, durables and items thought to be highly discretionary (e.g., food and beverages away from home and accomodation services), appear most sensitive to monetary policy shocks."--Abstract, p. ii. |
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| 546 | |aIncludes abstract in French. |
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| 693 | 4|aMonetary policy |
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| 693 | 4|aHousehold finance |
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| 693 | 4|aStatistics |
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| 700 | 1 |aLuu, Corinne. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff analytical note,|x2369-9639 ; |v2018-32|w(CaOODSP)9.807323 |
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| 856 | 40|qPDF|s1017 KB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-7-2018-32-eng.pdf |
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