The subprime crisis weathering the storm in the US., Canada and Australia

UBC Faculty Research and Publications

The subprime crisis weathering the storm in the US., Canada and Australia Clarke, Judith A.; Courchane, Marsha; Holmes, Cynthia; Somerville, Tsur

Abstract

The subprime crisis impacted not only the U.S. but other countries. However, the responses to the crisis and the outcomes observed varied enormously across, for example, the U.S., Canada and Australia. While we have discussed the institutional and regulatory differences across these countries in an earlier study, here we focus specifically on differences in securitization and in house price changes for the three countries. We provide a description of the residential mortgage backed securities market in Canada and Australia, as well as a description of the changes in house prices over the decade, culminating in causality tests for the movements. Presented at Annual Meeting of the American Real Estate and Urban Economics Association

Item Metadata

Title	The subprime crisis weathering the storm in the US., Canada and Australia
Creator	Clarke, Judith A.; Courchane, Marsha; Holmes, Cynthia; Somerville, Tsur
Contributor	University of British Columbia. Centre for Urban Economics and Real Estate
Publisher	University of British Columbia. Centre for Urban Economics and Real Estate
Date Issued	2010-01
Description	The subprime crisis impacted not only the U.S. but other countries. However, the responses to the crisis and the outcomes observed varied enormously across, for example, the U.S., Canada and Australia. While we have discussed the institutional and regulatory differences across these countries in an earlier study, here we focus specifically on differences in securitization and in house price changes for the three countries. We provide a description of the residential mortgage backed securities market in Canada and Australia, as well as a description of the changes in house prices over the decade, culminating in causality tests for the movements. Presented at Annual Meeting of the American Real Estate and Urban Economics Association
Genre	Working Paper
Type	Text
Language	eng
Date Available	2017-01-24
Provider	Vancouver : University of British Columbia Library
Rights	Attribution-NonCommercial-NoDerivs 2.5 Canada
DOI	10.14288/1.0052296
URI	http://hdl.handle.net/2429/50511
Affiliation	Non UBC; Business, Sauder School of
Peer Review Status	Unreviewed
Scholarly Level	Faculty
Rights URI	http://creativecommons.org/licenses/by-nc-nd/2.5/ca/
Aggregated Source Repository	DSpace

Open Collections

UBC Faculty Research and Publications