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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
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
Persistent link: https://www.econbiz.de/10011772141
This paper develops and estimates a model to explain the behaviour of house prices in the United States. The main finding is that over 70% of the increase in house prices relative to trend during the increase of house prices in the United States from 1995 to 2006 can be explained by a pricing...
Persistent link: https://www.econbiz.de/10009487808
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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
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