Arshanapalli, Bala; Nelson, William - In: The International Journal of Business and Finance Research 2 (2008) 2, pp. 35-43
Housing prices in the US rose rapidly from 2000-2007Q3. Based on this evidence, the financial and general press concluded the US experienced a housing bubble. The efficient market theory denies the possibility of a bubble. This paper applies the statistical technique of cointegration to...