Duca, John V.; Popoyan, Lilit; Wachter, Susan M. - 2016
busts in several advanced economies (e.g., Ireland, Spain, and the U.S.), and, more specifically in the U.S., an … underpricing of risk made possible by regulatory arbitrage and shadow financing fueled the credit and twin real estate bubbles of … the mid-2000s. Across countries and over time bubbles have been particularly acute in real estate markets reflecting not …
