Payne, James; Waters, George - In: The Journal of Real Estate Finance and Economics 34 (2007) 2, pp. 207-224
) test to examine the possibility of Evans’ (1991) periodically collapsing bubbles in the equity REIT market. The results are … of periodically collapsing bubbles. Adjustment in the standard cointegration tests of bubbles for skewness and excess …-sector in which both the MTAR and RADF results support periodically collapsing bubbles. Moreover, market fundamentals proxied by …