Xiaoqing Zhou - Latest

• The Propagation of Regional Shocks in Housing Markets: Evidence from Oil Price Shocks in Canada

  Staff Working Paper 2018-56 Lutz Kilian, Xiaoqing Zhou

  How do global oil price shocks spread through Canada’s economy? With Canada’s regionally diverse economy in mind, we explore the implications of oil price shocks for Canadian housing markets and regional economies. We show that the belief that oil price shocks only matter in oil-rich regions is false.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Housing, International topics, Labour markets, Regional economic developments JEL Code(s): F, F4, F43, Q, Q3, Q33, Q4, Q43, R, R1, R12, R3, R31

• Home Equity Extraction and the Boom-Bust Cycle in Consumption and Residential Investment

  Staff Working Paper 2018-6 Xiaoqing Zhou

  The consumption boom-bust cycle in the 2000s coincided with large fluctuations in the volume of home equity borrowing. Contrary to conventional wisdom, I show that homeowners largely borrowed for residential investment and not consumption.

  Content Type(s): Staff research, Staff working papers Topic(s): Credit and credit aggregates, Economic models, Housing JEL Code(s): D, D1, E, E2, E3

• Modeling Fluctuations in the Global Demand for Commodities

  Staff Working Paper 2018-4 Lutz Kilian, Xiaoqing Zhou

  It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic activity.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, International topics JEL Code(s): F, F4, F44, Q, Q1, Q11, Q3, Q31, Q4, Q41, Q43