Aizenman, Joshua; Jinjarak, Yothin - In: Journal of International Money and Finance 48 (2014) PB, pp. 249-270
We explore the stability of the conditioning variables accounting for the real estate valuation before and after the crisis of 2008–9, in a panel of 36 countries, recognizing the crisis break. We validate the robustness of the association between the real estate valuation and lagged current...