Agnello, Luca; Schuknecht, Ludger - 2009
Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a … significant magnitude; 2) there appears to be a strong correlation between the persistence and magnitude of booms and subsequent … deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects …