This thesis investigates the contribution of productivity shocks at different aggregation levels to residential investment and relative house prices in ten local housing markets in Canada from 1986 to 2007. It has two major conclusions. First, while in BC, Ontario, and four Atlantic Provinces, residential investment is more likely to be affected by aggregate shocks, in Quebec and three Prairie Provinces, residential investment is less responsive to aggregate shocks, and more likely to be affected by region-specific shocks. Second, relative house prices are much more variable than residential investment, and largely depend on region-specific factors.
| Identifer | oai:union.ndltd.org:LACETR/oai:collectionscanada.gc.ca:NSHD.ca#10222/14171 |
| Date | 12 August 2011 |
| Creators | Zhu, Wenbo |
| Source Sets | Library and Archives Canada ETDs Repository / Centre d'archives des thèses électroniques de Bibliothèque et Archives Canada |
| Language | English |
| Detected Language | English |
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