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首页> 外文期刊>Journal of Housing Economics >The maple bubble: A history of migration among Canadian provinces
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The maple bubble: A history of migration among Canadian provinces

机译:枫叶泡沫:加拿大各省之间的迁徙历史

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摘要

We report evidence of the existence of house price bubbles in several Canadian provinces using a wealth of monthly data for over thirty years. We apply bubble detection tests to both the price-to-rent ratio and a measure of the non-fundamental component of housing prices and find several episodes of housing price exuberance in various Canadian provinces. Furthermore, we show evidence of bubble migration and show that migration intensities are time-varying. In all cases an inverted U-shape is encountered, with a maximum point around 2012. Our results have important implications for the design of housing market policies.
机译:我们使用三十多年来的大量月度数据报告了加拿大多个省份中存在房价泡沫的证据。我们对价格与租金比率以及房价的非基本组成部分均进行了泡沫检测测试,并发现了加拿大各个省份的房价繁荣时期。此外,我们显示了气泡迁移的证据,并表明迁移强度随时间变化。在所有情况下,都会遇到倒U形,最高点在2012年左右。我们的结果对房地产市场政策的设计具有重要意义。

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