Recent work has shown that microeconomic shocks at the firm and sector level account for a substantial share of output volatility. We examine whether this relationship holds for house price growth volatility, which also declined during the Great Moderation and increased after 2001. Using a novel...

Using the United Kingdom as a case study, this well-researched account shows how, for more than 200 years, a remarkably regular 18-year cycle of boom and bust can be traced to the peaks and troughs in land prices. This exploration reveals how governments, during the upswing of the cycle, are...

Zehn Jahre bevor die Rezession in den 1990er Jahren stattfand, sagte Fred Harrison sie bereits voraus. 2010 rechnet er nun ausgehend von einer erneuten Immobilienkrise mit einer weltweiten Wirtschaftsrezession.