00000cam 2200000zi 4500 9.958819 CaOODSP 20260109090600 m o d f cr cn||||||||| 260109e20251211oncd ob f000 0 eng d CaOODSP eng rda CaOODSP eng eng fre FB3-5/2025-36E-PDF Roschitsch, Ulrich, author. United in booms, divided in busts : regional house price cycles and monetary policy / Ulrich Roschitsch, Hannes Twieling. [Ottawa] : Bank of Canada = Banque du Canada, December 11, 2025. ©2025 1 online resource (iii, 90 pages) : graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2025-36 Cover title. Includes bibliographical references (pages 47-51). "This paper shows that regional disparities in house price growth are more pronounced during house price busts than during booms. To explain this observation, we construct a two-region currency union model incorporating a housing sector and extrapolative belief updating regarding house prices. To solve this model, we propose a new method that efficiently handles extrapolative belief updating in a wide class of structural models"--Abstract, page ii. Includes abstracts in English and French. Monetary policy Econometric models. Housing Prices Econometric models. Housing Regional disparities Econometric models. Politique monétaire Modèles économétriques. Logement Prix Modèles économétriques. Logement Disparités régionales Modèles économétriques. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 1701-9397 ; 2025-36. (CaOODSP)9.806221 PDF 2.14 MB https://publications.gc.ca/collections/collection_2026/banque-bank-canada/FB3-5-2025-36-eng.pdf