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Modelling Canadian mortgage debt and payments in a semi-structural model

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  • Fares Bounajm
  • Austin McWhirter

Abstract

We show how Canadian mortgage debt dynamics can be modelled in a semi-structural macroeconomic model, such as the Bank of Canada’s LENS. The model we propose accounts for Canada’s unique mortgage debt structure.

Suggested Citation

  • Fares Bounajm & Austin McWhirter, 2024. "Modelling Canadian mortgage debt and payments in a semi-structural model," Staff Analytical Notes 2024-1, Bank of Canada.
    • Handle: RePEc:bca:bocsan:24-1
    DOI: 10.34989/san-2024-1
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    References listed on IDEAS

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    1. Olivier Gervais & Marc-André Gosselin, 2014. "Analyzing and Forecasting the Canadian Economy through the LENS Model," Technical Reports 102, Bank of Canada.
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    Keywords

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    JEL classification:

    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth

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