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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
Generalized supADF (GSADF) test procedure developed by Phillips et al. (Testing for multiple bubbles: Historical episodes of …
Persistent link: https://www.econbiz.de/10011812671
For most of the past decades, the Gulf Cooperation Council (GCC) region has experienced rapid expansion, driven largely by increasing energy revenues, and growth-focused government policies. As the region's population increases in size, and becomes wealthier and more urbanized, significant...
Persistent link: https://www.econbiz.de/10013102716
future house prices which, in turn, led to a collapse in lending standards. A common feature of all bubbles which complicates … economic fallout from the recent financial crisis, central bank views on the use of monetary policy to lean against bubbles …
Persistent link: https://www.econbiz.de/10013007703
Persistent link: https://www.econbiz.de/10011667418
Persistent link: https://www.econbiz.de/10011944985
In the U.S. real estate market, around 30 percent of listed properties remain unsold. We examine whether unsold property listings exert externalities in the housing market. Our study builds on a comprehensive dataset that encompasses residential property listings in Orange County (California)...
Persistent link: https://www.econbiz.de/10013440434
Persistent link: https://www.econbiz.de/10011772141
real estate markets are driven by the presence of speculative bubbles. The results show significant evidence of the … existence of periodically partially collapsing speculative bubbles in all three markets. We then develop and implement a … multivariate bubble model to evaluate whether the stock and real estate bubbles spill over into REITs. We find the underlying stock …
Persistent link: https://www.econbiz.de/10013092851
This paper provides an early warning indicator for bubbles in financial markets. The indicator is based on traditional … consensus bubbles and gives warning signals well ahead of the crash, in most cases as early as 12 months ahead. The indicator … also signals most of the 'negative bubbles' before their turning points …
Persistent link: https://www.econbiz.de/10013111338