Kholodilin, Konstantin; Michelsen, Claus; Ulbricht, Dirk - 2015
approaches: panel data and principal components versions of Chow type explosive root tests. In addition, we use a more precise … definition of a speculative bubble: We define price movements as bubbles when explosive growth of prices is not supported by … explosive increases of rents. We find evidence for explosive price increases in many cities, especially for newly built housing …