The Effects Of Asset Price Changes On Economic Security In Canada, 2005-09
The purpose of this short paper is to explore some of the impacts on economic security of asset price changes since Statistics Canada's last Survey of Financial Security (SFS) was conducted in May-July 2005. This is a complex topic that could be approached in various ways. Here the authors will ask what impact observed asset price declines would have had on household wealth and security in the absence of any change in asset quantities. Although an interesting exercise, this is clearly also a partial one. Changes in asset prices induce changes in asset demands, and quantities also change in response to other factors, for example interest rates and employment.