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

Staff Analytical Note 2024-1 (English)
Fares Bounajm, Austin McWhirter
January 2024
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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.
Content Type(s): Staff research, Staff analytical notes
Topic(s): Economic models, Monetary policy transmission
JEL Code(s): E, E2, E27, E4, E43, E47, G, G5, G51

DOI: https://doi.org/10.34989/san-2024-1