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This paper investigates the presence of housing bubbles in Australia at the national, capital city, and local … employ the recursive evolving method proposed by Phillips et al. (2015a,b) for the detection of explosive bubbles. While the … bubbles identified for Sydney and Melbourne during the recent rapid housing price expansions from 2013 to 2017. The LGA …
Persistent link: https://www.econbiz.de/10012863721
We study scar formation and persistence after a house price bubble has burst using data on 3,089 US counties and county equivalents over the period 1980q1-2019q4. We date house price booms and busts for each county, and identify periods with explosive house price developments. Applying a sharp...
Persistent link: https://www.econbiz.de/10015141915
This paper proposes a framework for analysing speculative bubbles in housing markets. The formation of bubbles is … autonomous bubbles, and the individual connectivity index identifying systematically important sub-markets. We illustrate our … Melbourne bubble network is an autonomous one, speculative bubbles in the Sydney market are highly interconnected, and show a …
Persistent link: https://www.econbiz.de/10012924880
This paper proposes a framework for analysing speculative bubbles in housing markets. The formation of bubbles is … autonomous bubbles, and the individual connectivity index identifying systematically important sub-markets. We illustrate our … Melbourne bubble network is an autonomous one, speculative bubbles in the Sydney market are highly interconnected, and show a …
Persistent link: https://www.econbiz.de/10012927111
Generalized supADF (GSADF) test procedure developed by Phillips et al. (Testing for multiple bubbles: Historical episodes of …
Persistent link: https://www.econbiz.de/10011812671
Generalized sup ADF (GSADF) test procedure developed by Phillips, Shi, and Yu (Testing for Multiple Bubbles: Historical Episodes …
Persistent link: https://www.econbiz.de/10011674010
This paper investigates the role of speculators in the housing market, specifically their contribution to price overreaction through positive feedback trading (or momentum trading). We exploit a unique dataset of condominium transactions in a residential real estate market where transaction...
Persistent link: https://www.econbiz.de/10013115047
their fundamentals were caused by the existence of two genres of bubbles: intrinsic bubbles and rational speculative bubbles … collapsing rational bubbles in the post-2000 market …
Persistent link: https://www.econbiz.de/10013093992
bubbles”. In this paper, we provide a model-free test of rational bubbles and we apply it to the U.S. housing market. Based on …
Persistent link: https://www.econbiz.de/10013404365
housing bubbles.Between 2000 and the bubble's peak, inflation- adjusted housing prices in California and Florida more than …,000 people per year.This suggests that local factors, not national policies, were a necessary condition for the housing bubbles …
Persistent link: https://www.econbiz.de/10013064329