IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2015-128.html
   My bibliography  Save this paper

Gauging Housing Supply in Canada: A Stock Approach

Author

Abstract

This paper estimates Canada’s housing stock to gauge the supply-side component of the recent exuberance in the Canadian housing sector. The paper adds to the current related literature by focusing on housing units and reconstructing housing stock and households series. An error correction model is estimated at the provincial level over the period 1980-2013 to estimate a measure of housing stock desequilibrium. The model predicts an excess supply in the order of ½ percent above the housing stock level consistent with fundamentals as of 2013.

Suggested Citation

  • Julien Reynaud, 2015. "Gauging Housing Supply in Canada: A Stock Approach," IMF Working Papers 2015/128, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2015/128
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=43016
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jason Allen & Robert Amano & David P. Byrne & Allan W. Gregory, 2009. "Canadian city housing prices and urban market segmentation," Canadian Journal of Economics, Canadian Economics Association, vol. 42(3), pages 1132-1149, August.
    2. International Monetary Fund, 2012. "United States: Selected Issues," IMF Staff Country Reports 2012/214, International Monetary Fund.
    3. Ball, Michael & Meen, Geoffrey & Nygaard, Christian, 2010. "Housing supply price elasticities revisited: Evidence from international, national, local and company data," Journal of Housing Economics, Elsevier, vol. 19(4), pages 255-268, December.
    4. International Monetary Fund, 2013. "Canada: Selected Issues," IMF Staff Country Reports 2013/041, International Monetary Fund.
    5. David Dupuis & Yi Zheng, 2010. "A Model of Housing Stock for Canada," Staff Working Papers 10-19, Bank of Canada.
    6. Frédérick Demers, 2005. "Modelling and Forecasting Housing Investment: The Case of Canada," Staff Working Papers 05-41, Bank of Canada.
    7. Hajime Tomura, 2008. "A Model of Housing Boom and Bust in a Small Open Economy," Staff Working Papers 08-9, Bank of Canada.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ms. Evridiki Tsounta, 2009. "Is the Canadian Housing Market Overvalued? A Post-crisis Assessment," IMF Working Papers 2009/235, International Monetary Fund.
    2. Karimova, Amira, 2020. "Forecast of Ontario’s housing stock 2020-2046," MPRA Paper 103298, University Library of Munich, Germany.
    3. Goodness C. Aye & Stephen M. Miller & Rangan Gupta & Mehmet Balcilar, 2016. "Forecasting US real private residential fixed investment using a large number of predictors," Empirical Economics, Springer, vol. 51(4), pages 1557-1580, December.
    4. Oliver W. Lerbs, 2014. "House prices, housing development costs, and the supply of new single-family housing in German counties and cities," Journal of Property Research, Taylor & Francis Journals, vol. 31(3), pages 183-210, September.
    5. Murray, Cameron, 2020. "A housing supply absorption rate equation," OSF Preprints 7n8rj, Center for Open Science.
    6. Oliver Lerbs, "undated". "House Prices, Housing Development Costs, and the Supply of New Single-Family Housing in German Counties and Cities," Working Papers 201283, Institute of Spatial and Housing Economics, Munster Universitary.
    7. Mr. Luis M. Cubeddu & Mr. Camilo E Tovar Mora & Ms. Evridiki Tsounta, 2012. "Latin America: Vulnerabilities Under Construction?," IMF Working Papers 2012/193, International Monetary Fund.
    8. Michael Klien & Andrea Kunnert, 2016. "Baubewilligungen für neue Wohneinheiten in Österreich. Prognose Herbst 2016," WIFO Studies, WIFO, number 65638, March.
    9. Nicholas Apergis & Ghassen El Montasser & Emmanuel Owusu-Sekyere & Ahdi N. Ajmi & Rangan Gupta, 2014. "Dutch Disease Effect of Oil Rents on Agriculture Value Added in MENA Countries," Working Papers 201408, University of Pretoria, Department of Economics.
    10. Ting Zhang & Dan Gerlowski & Deborah Ford, 2014. "Housing price variability: national and local impacts," Applied Economics, Taylor & Francis Journals, vol. 46(28), pages 3494-3502, October.
    11. Eric Smith & Zoe Xie & Lei Fang, 2022. "The Short and the Long of It: Stock-Flow Matching in the US Housing Market," CESifo Working Paper Series 10035, CESifo.
    12. Allen Head & Huw Lloyd-Ellis & Hongfei Sun, 2014. "Search, Liquidity, and the Dynamics of House Prices and Construction," American Economic Review, American Economic Association, vol. 104(4), pages 1172-1210, April.
    13. Michael Klien & Andrea Kunnert, 2016. "Baubewilligungen für neue Wohneinheiten in Österreich. Prognose Winter 2016," WIFO Studies, WIFO, number 65637, March.
    14. Andrea Kunnert, 2013. "Baubewilligungen für Wohneinheiten in Österreich: Prognose 2012/13 und regionale Entwicklung 2006/2011. Teilbericht 2," WIFO Studies, WIFO, number 67110, March.
    15. Rose Cunningham & Ilan Kolet, 2007. "Housing Market Cycles and Duration Dependence in the United States and Canada," Staff Working Papers 07-2, Bank of Canada.
    16. Geoffrey Meen & Alexander Mihailov & Yehui Wang, 2022. "On the long-run solution to aggregate housing systems," Urban Studies, Urban Studies Journal Limited, vol. 59(1), pages 178-196, January.
    17. Bricongne, Jean-Charles & Meunier, Baptiste & Pouget, Sylvain, 2023. "Web-scraping housing prices in real-time: The Covid-19 crisis in the UK," Journal of Housing Economics, Elsevier, vol. 59(PB).
    18. Oikarinen, Elias & Peltola, Risto & Valtonen, Eero, 2015. "Regional variation in the elasticity of supply of housing, and its determinants: The case of a small sparsely populated country," Regional Science and Urban Economics, Elsevier, vol. 50(C), pages 18-30.
    19. Glen Bramley & David Watkins, 2014. "‘Measure Twice, Cut Once’—Revisiting the Strength and Impact of Local Planning Regulation of Housing Development in England," Environment and Planning B, , vol. 41(5), pages 863-884, October.
    20. Xiangling Liu & Glenn Otto, 2014. "Housing Supply Elasticity in Sydney Local Government Areas," Discussion Papers 2014-13, School of Economics, The University of New South Wales.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2015/128. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.