Estimating the Impacts of Contractionary Monetary Policy Shocks on Rental Prices in the Canadian Economy
| dc.contributor.author | Gaffney, Luca | |
| dc.date.accessioned | 2025-05-07T15:20:09Z | |
| dc.date.available | 2025-05-07T15:20:09Z | |
| dc.date.issued | 2025 | |
| dc.description.abstract | In this project, I study the relationship between contractionary monetary policy shocks and rental prices in the Canadian economy. While macro-housing research has become quite popular in the wake of the 2008 recession, most research focuses on aspects of owned accommodation. Given there is not much research done on the relationship between changes in rental prices and the macroeconomy, particularly in Canada, I choose to bridge a gap in this field. Though rental prices are largely determined by supply-side factors, there is still an important demand-side relationship to be examined. One claim is that contractionary monetary policy shocks result in rental price increases due to housing tenure decisions. This means in the face of high interest rates, people may choose to hold off on buying a home and continue renting. To examine this claim, I use Canadian data and create multiple SVAR models examining impulse response functions to see whether or not these effects occur in the Canadian economy. | |
| dc.description.reviewstatus | Reviewed | |
| dc.description.scholarlevel | Undergraduate | |
| dc.description.sponsorship | Jamie Cassels Undergraduate Research Awards (JCURA) | |
| dc.identifier.uri | https://hdl.handle.net/1828/22166 | |
| dc.publisher | University Of Victoria | |
| dc.subject | economics | |
| dc.subject | econometrics | |
| dc.subject | macroeconomics | |
| dc.subject | SVAR | |
| dc.subject | housing | |
| dc.subject | rental | |
| dc.title | Estimating the Impacts of Contractionary Monetary Policy Shocks on Rental Prices in the Canadian Economy | |
| dc.type | Poster |