between 15.1% and 45.2% too much capital. These estimates suggest that, even before they burst, bubbles adversely affect …

that SPC in general might be a useful tool in constructing early warning systems for asset price bubbles …

What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 … countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while … others blow over. We demonstrate that what makes some bubbles more dangerous than others is credit. When fueled by credit …

We develop a model of rational bubbles based on leverage and the assumption of an imprecisely known maximum market size … lend to traders with limited liability in a bubble is endogenous. Bubbles reduce welfare of future investors. We provide … general conditions for the possibility of bubbles depending on uncertainty about market size, traders' degree of leverage and …

Bubbles are omnipresent in lab experiments with asset markets. Most of these experiments were conducted in environments … smaller bubbles if human traders expect algorithmic traders to be present …

, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …